StockNews.com Initiates Coverage on CRH (NYSE:CRH)

Research analysts at StockNews.com started coverage on shares of CRH (NYSE:CRH – Get Rating) in a note issued to investors on Thursday. The firm set a “strong-buy” rating on the construction company’s stock.

Several other equities research analysts also recently commented on CRH. Redburn Partners raised CRH from a “neutral” rating to a “buy” rating in a report on Tuesday, January 3rd. Credit Suisse Group dropped their target price on CRH from €50.00 ($53.76) to €48.00 ($51.61) and set an “outperform” rating on the stock in a report on Wednesday, November 23rd. Finally, JPMorgan Chase & Co. dropped their target price on CRH from €50.00 ($53.76) to €48.00 ($51.61) and set an “overweight” rating on the stock in a report on Thursday, December 8th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $48.00.

CRH Price Performance

CRH stock opened at $48.18 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.67 and a quick ratio of 1.19. The business’s fifty day simple moving average is $47.05 and its two-hundred day simple moving average is $40.52. CRH has a 12 month low of $31.22 and a 12 month high of $52.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Greenhaven Associates Inc. lifted its holdings in CRH by 138.5% in the third quarter. Greenhaven Associates Inc. now owns 1,794,955 shares of the construction company’s stock valued at $57,851,000 after acquiring an additional 1,042,510 shares during the period. Boston Partners lifted its holdings in CRH by 12.1% in the third quarter. Boston Partners now owns 7,474,936 shares of the construction company’s stock valued at $241,774,000 after acquiring an additional 803,876 shares during the period. FMR LLC lifted its holdings in CRH by 7.5% in the second quarter. FMR LLC now owns 10,312,132 shares of the construction company’s stock valued at $359,068,000 after acquiring an additional 718,228 shares during the period. Dimensional Fund Advisors LP lifted its holdings in CRH by 16.1% in the third quarter. Dimensional Fund Advisors LP now owns 4,265,151 shares of the construction company’s stock valued at $137,465,000 after acquiring an additional 590,914 shares during the period. Finally, Teachers Retirement System of The State of Kentucky bought a new position in CRH in the third quarter valued at about $12,212,000. 5.51% of the stock is owned by institutional investors.

About CRH

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CRH Plc manufactures and distributes building materials and products for the construction industry. It operates business through the following segments: Americas Materials, Europe Materials, and Building Products. The Americas Materials segment provides asphalt paving services and produces materials such as cement, aggregates, ready mixed concrete, and asphalt.