Citigroup Cuts CRH (NYSE:CRH) Price Target to $115.00

CRH (NYSE:CRH) had its price target cut by Citigroup from $120.00 to $115.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other equities analysts also recently commented on CRH. Barclays began coverage on CRH in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 target price for the company. DA Davidson increased their price objective on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, November 11th. Truist Financial upped their price target on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Finally, HSBC started coverage on shares of CRH in a research report on Monday, November 11th. They set a “buy” rating and a $116.00 target price for the company. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CRH currently has an average rating of “Buy” and an average target price of $107.75.

CRH Stock Performance

Shares of CRH opened at $92.37 on Monday. The business’s fifty day moving average is $97.90 and its 200-day moving average is $89.65. The firm has a market cap of $62.74 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 1.25 and a beta of 1.31. CRH has a 52-week low of $66.42 and a 52-week high of $104.23.

CRH Cuts Dividend

The business also recently declared a Variable dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, November 22nd were issued a $0.262 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s dividend payout ratio (DPR) is presently 21.00%.

Institutional Trading of CRH

A number of large investors have recently bought and sold shares of CRH. GHP Investment Advisors Inc. increased its stake in shares of CRH by 336.4% in the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock worth $25,000 after purchasing an additional 259 shares in the last quarter. Deseret Mutual Benefit Administrators purchased a new stake in CRH during the 3rd quarter worth about $25,000. UMB Bank n.a. boosted its stake in CRH by 72.7% in the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after purchasing an additional 125 shares during the period. Meeder Asset Management Inc. purchased a new position in CRH during the 3rd quarter valued at about $35,000. Finally, Baillie Gifford & Co. boosted its position in shares of CRH by 70.7% in the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after acquiring an additional 162 shares during the period. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Company Profile

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.