CRH (NYSE:CRH) Downgraded by StockNews.com to “Hold”

CRH (NYSE:CRH) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Other equities analysts have also issued reports about the company. Truist Financial lifted their price objective on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note 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. HSBC began coverage on CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective on the stock. Morgan Stanley lifted their price objective on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Citigroup cut their price objective on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.75.

CRH Stock Performance

Shares of NYSE:CRH traded down $4.51 during midday trading on Wednesday, hitting $106.00. 6,098,595 shares of the stock were exchanged, compared to its average volume of 4,032,772. The business’s 50-day moving average price is $97.70 and its 200 day moving average price is $94.22. The stock has a market capitalization of $71.99 billion, a price-to-earnings ratio of 21.20, a P/E/G ratio of 1.21 and a beta of 1.30. CRH has a 12 month low of $71.18 and a 12 month high of $110.97.

Hedge Funds Weigh In On CRH

A number of institutional investors have recently modified their holdings of CRH. Deseret Mutual Benefit Administrators acquired a new position in shares of CRH during the third quarter worth approximately $25,000. Orion Capital Management LLC acquired a new position in shares of CRH during the fourth quarter worth approximately $28,000. Heck Capital Advisors LLC acquired a new position in shares of CRH during the fourth quarter worth approximately $32,000. Brown Brothers Harriman & Co. raised its position in shares of CRH by 214.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company’s stock worth $33,000 after purchasing an additional 240 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of CRH during the third quarter worth approximately $35,000. 62.50% of the stock is owned by institutional investors and hedge funds.

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.