Sanford C. Bernstein Begins Coverage on CRH (NYSE:CRH)

Research analysts at Sanford C. Bernstein assumed coverage on shares of CRH (NYSE:CRH) in a report released on Tuesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $115.00 price target on the construction company’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 17.84% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of CRH in a research note on Tuesday, May 6th. Royal Bank of Canada cut their price target on shares of CRH from $127.00 to $108.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their price objective on CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Loop Capital assumed coverage on CRH in a report on Wednesday, April 9th. They set a “buy” rating and a $114.00 target price for the company. Finally, Berenberg Bank set a $120.00 price target on CRH in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CRH has a consensus rating of “Buy” and a consensus price target of $112.58.

CRH Stock Down 0.6%

NYSE CRH opened at $97.59 on Tuesday. The stock’s 50-day simple moving average is $91.34 and its two-hundred day simple moving average is $96.27. CRH has a twelve month low of $71.18 and a twelve month high of $110.97. The company has a market capitalization of $65.94 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 1.15 and a beta of 1.33.

CRH (NYSE:CRH) last announced its quarterly earnings data on Monday, May 5th. The construction company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The firm had revenue of $6.76 billion for the quarter, compared to analysts’ expectations of $6.77 billion. CRH had a net margin of 9.86% and a return on equity of 16.35%. On average, equities analysts expect that CRH will post 5.47 earnings per share for the current fiscal year.

Institutional Trading of CRH

Large investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of CRH by 7.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,962 shares of the construction company’s stock valued at $144,605,000 after purchasing an additional 114,072 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in CRH by 22.1% in the fourth quarter. Park Avenue Securities LLC now owns 32,557 shares of the construction company’s stock worth $3,012,000 after buying an additional 5,889 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of CRH by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,450,632 shares of the construction company’s stock worth $226,732,000 after acquiring an additional 232,977 shares during the period. Merit Financial Group LLC raised its position in shares of CRH by 31.8% in the 4th quarter. Merit Financial Group LLC now owns 23,253 shares of the construction company’s stock worth $2,151,000 after acquiring an additional 5,610 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of CRH by 19.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 72,778 shares of the construction company’s stock worth $6,733,000 after acquiring an additional 12,076 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

About CRH

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.