CRH (NYSE:CRH) Now Covered by Analysts at Bank of America

Bank of America assumed coverage on shares of CRH (NYSE:CRH) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $128.00 price objective on the construction company’s stock.

CRH has been the subject of a number of other research reports. Morgan Stanley reiterated an “overweight” rating on shares of CRH in a report on Tuesday, September 2nd. Sanford C. Bernstein increased their price objective on CRH from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, September 11th. Vertical Research upgraded CRH to a “strong-buy” rating in a report on Friday, August 1st. DA Davidson restated a “neutral” rating and set a $105.00 price target (down from $120.00) on shares of CRH in a report on Thursday, July 10th. Finally, Jefferies Financial Group upgraded CRH to a “strong-buy” rating in a report on Monday, September 22nd. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $117.00.

CRH Price Performance

Shares of CRH opened at $113.64 on Friday. The firm has a market cap of $76.44 billion, a P/E ratio of 23.77, a P/E/G ratio of 1.45 and a beta of 1.31. The stock has a 50 day simple moving average of $108.19 and a two-hundred day simple moving average of $97.65. CRH has a 1 year low of $76.75 and a 1 year high of $116.36.

CRH (NYSE:CRH) last issued its earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.12). CRH had a return on equity of 15.68% and a net margin of 9.09%.The firm had revenue of $10.21 billion during the quarter, compared to analysts’ expectations of $10.27 billion. During the same period in the prior year, the company earned $1.88 EPS. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities analysts anticipate that CRH will post 5.47 earnings per share for the current year.

CRH Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Friday, August 22nd were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. CRH’s payout ratio is currently 23.22%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CRH. Creekmur Asset Management LLC purchased a new position in CRH in the 2nd quarter worth approximately $27,000. Park Place Capital Corp lifted its holdings in CRH by 59.9% in the 2nd quarter. Park Place Capital Corp now owns 307 shares of the construction company’s stock worth $29,000 after purchasing an additional 115 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in CRH by 1,835.3% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company’s stock worth $30,000 after purchasing an additional 312 shares in the last quarter. Park Square Financial Group LLC bought a new stake in CRH in the 4th quarter worth approximately $32,000. Finally, GW&K Investment Management LLC increased its stake in CRH by 86.7% in the 1st quarter. GW&K Investment Management LLC now owns 448 shares of the construction company’s stock worth $39,000 after acquiring an additional 208 shares during the last quarter. 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.