JPMorgan Chase & Co. Has Lowered Expectations for CRH (NYSE:CRH) Stock Price

CRH (NYSE:CRH) had its price target dropped by analysts at JPMorgan Chase & Co. from $118.00 to $114.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 23.25% from the stock’s current price.

A number of other brokerages have also commented on CRH. Berenberg Bank set a $120.00 price objective on CRH in a report on Friday, February 28th. DA Davidson lifted their target price on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, November 11th. HSBC began coverage on CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 price target for the company. Hsbc Global Res raised shares of CRH to a “strong-buy” rating in a report on Monday, November 11th. Finally, Morgan Stanley increased their target price on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $109.25.

CRH Stock Down 1.4 %

CRH traded down $1.27 during trading on Tuesday, hitting $92.50. 2,204,531 shares of the company’s stock were exchanged, compared to its average volume of 5,079,410. CRH has a fifty-two week low of $71.18 and a fifty-two week high of $110.97. The stock has a market cap of $62.61 billion, a P/E ratio of 18.50, a PEG ratio of 1.15 and a beta of 1.30. The business’s 50 day moving average is $99.09 and its two-hundred day moving average is $95.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its position in CRH by 13.0% during the fourth quarter. FMR LLC now owns 40,843,362 shares of the construction company’s stock worth $3,781,004,000 after purchasing an additional 4,687,345 shares during the period. Vanguard Group Inc. grew its stake in CRH by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 39,163,930 shares of the construction company’s stock valued at $3,624,719,000 after buying an additional 145,101 shares in the last quarter. Franklin Resources Inc. raised its holdings in CRH by 17.0% during the 4th quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company’s stock valued at $1,553,194,000 after acquiring an additional 2,437,868 shares during the period. Norges Bank purchased a new stake in shares of CRH during the fourth quarter worth $1,391,245,000. Finally, State Street Corp boosted its holdings in shares of CRH by 4.9% in the third quarter. State Street Corp now owns 13,139,233 shares of the construction company’s stock worth $1,218,532,000 after acquiring an additional 618,786 shares during the period. 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.