CRH Plc (NYSE:CRH) has received an average recommendation of “Moderate Buy” from analysts, according to a report by MarketBeat.com. A total of nineteen ratings firms currently cover the company, with three recommending a hold, fourteen advising a buy, and two issuing a strong buy rating. The consensus 12-month price target among brokerages is set at approximately $135.87.
Analysts have closely monitored CRH’s performance, providing a range of insights through various research reports. Notably, Longbow Research initiated coverage on December 16, 2023, with a “buy” rating and a price target of $160.00. On October 20, Barclays raised its price objective for CRH from $110.00 to $131.00 while assigning an “overweight” rating. Other firms have also adjusted their outlooks; for instance, BNP Paribas Exane upgraded the stock to a “strong-buy” on January 23, 2024, and Wells Fargo & Company reduced its price target from $138.00 to $133.00 on January 29, 2024.
CRH’s financial performance has also attracted attention. The company reported quarterly earnings on November 5, 2023, revealing earnings per share of $2.21, surpassing the consensus estimate of $1.94 by $0.27. CRH achieved a net margin of 9.30% and a return on equity of 16.25%. The firm’s revenue for the quarter reached $11.07 billion, exceeding expectations of $10.15 billion. This reflects a 5.3% increase compared to the same period last year, when the company recorded earnings per share of $1.97.
Institutional Investment Trends
Recent changes in institutional holdings indicate growing confidence in CRH. Notably, JFS Wealth Advisors LLC increased its stake in CRH by 12.1% during the fourth quarter, acquiring an additional 86 shares and bringing its total to 794 shares, valued at approximately $99,000. Similarly, L2 Asset Management LLC raised its position by 3.0% in the second quarter, now owning 3,028 shares worth $278,000.
Other institutional investors have also adjusted their holdings. PDS Planning Inc expanded its stake by 2.3%, now holding 4,000 shares valued at $499,000. Furthermore, UMB Bank n.a. increased its position by 34.8% during the third quarter, owning 356 shares worth $43,000. Overall, institutional investors hold approximately 62.50% of CRH’s stock.
Overview of CRH Plc
Based in Dublin, Ireland, CRH Plc was established in 1970 as Cement Roadstone Holdings. It has evolved into one of the largest global suppliers of building materials, primarily through acquisitions and regional business development. The company operates an integrated network of manufacturing and distribution businesses serving both public and private construction markets.
CRH’s core activities encompass the production and distribution of aggregates, cement, asphalt, ready-mixed concrete, and other bulk materials. Additionally, the company offers a broad range of value-added building products, including precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.
As analysts continue to monitor CRH’s performance and institutional investors show increased interest, the company’s future looks promising within the competitive building materials sector.
