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

CRH (NYSE:CRH) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $118.00 to $114.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 15.78% from the stock’s current price.

A number of other research firms have also issued reports on CRH. Berenberg Bank set a $120.00 target price on CRH in a report on Friday, February 28th. Citigroup lowered their target price on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 6th. DA Davidson raised their target price on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday, November 11th. Morgan Stanley raised their target price on CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, Hsbc Global Res raised CRH to a “strong-buy” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $109.25.

CRH Stock Performance

Shares of NYSE CRH opened at $98.46 on Tuesday. The firm has a market cap of $66.65 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 1.15 and a beta of 1.30. The business’s 50-day simple moving average is $99.25 and its 200-day simple moving average is $95.99. CRH has a 52 week low of $71.18 and a 52 week high of $110.97.

Hedge Funds Weigh In On CRH

Several hedge funds and other institutional investors have recently modified their holdings of CRH. Orion Capital Management LLC bought a new position in CRH in the 4th quarter valued at $28,000. Heck Capital Advisors LLC bought a new position in CRH in the 4th quarter valued at $32,000. Park Square Financial Group LLC bought a new position in CRH in the 4th quarter valued at $32,000. Brown Brothers Harriman & Co. raised its position in CRH by 214.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 352 shares of the construction company’s stock valued at $33,000 after purchasing an additional 240 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in CRH in the 3rd quarter valued at $35,000. 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.