CRH Plc, a leading global supplier of building materials, has received an average recommendation of “Moderate Buy” from nineteen equity research firms currently covering the stock, according to MarketBeat.com. This consensus reflects a combination of three hold ratings, fourteen buy ratings, and two strong buy ratings, indicating a generally positive outlook among analysts.
Price Target and Analyst Insights
The average twelve-month price target for CRH shares stands at approximately $135.87. Various research reports have contributed to this assessment. Longbow Research initiated coverage on December 16, 2023, assigning a “buy” rating with a price target of $160.00. Barclays recently upgraded its price objective from $110.00 to $131.00, classifying the stock as “overweight.” Additionally, on January 23, 2023, BNP Paribas Exane elevated CRH to a “strong-buy” rating.
In a report dated January 29, 2023, Wells Fargo & Company adjusted its price target downward from $138.00 to $133.00, maintaining an “equal weight” rating. Conversely, Morgan Stanley raised its price target from $131.00 to $140.00, also giving the stock an “overweight” rating.
Quarterly Earnings Performance
CRH posted its latest quarterly earnings on November 5, 2023, reporting earnings per share of $2.21, surpassing the consensus estimate of $1.94 by $0.27. The company achieved a net margin of 9.30% and a return on equity of 16.25%. CRH’s revenue for the quarter reached $11.07 billion, significantly exceeding the expected $10.15 billion. This represents a year-over-year revenue increase of 5.3%, compared to $1.97 earnings per share during the same quarter last year.
Research analysts forecast that CRH will post earnings per share of $5.47 for the current year, reflecting confidence in the company’s financial trajectory.
Institutional Investor Activity
Institutional investors have actively adjusted their holdings in CRH. JFS Wealth Advisors LLC increased its stake by 12.1% in the fourth quarter, now owning 794 shares, valued at approximately $99,000. L2 Asset Management LLC raised its position by 3.0% in the second quarter, acquiring an additional 89 shares to reach a total of 3,028 shares worth $278,000.
PDS Planning Inc also boosted its holdings by 2.3% in the fourth quarter, increasing its total to 4,000 shares valued at about $499,000. UMB Bank n.a. saw a substantial increase of 34.8% in its stake during the third quarter, now holding 356 shares worth $43,000. Crossmark Global Holdings Inc added 2.4% to its stake, bringing its total to 4,126 shares valued at approximately $495,000.
Currently, institutional investors own 62.50% of CRH’s stock, reflecting significant confidence in the company’s future prospects.
CRH Plc, headquartered in Dublin, Ireland, has developed from its origins as Cement Roadstone Holdings in 1970 into one of the largest international suppliers of construction materials. The company operates an integrated network of manufacturing and distribution businesses, serving both public and private construction markets globally. Its core activities encompass the production of aggregates, cement, asphalt, and ready-mixed concrete, along with a diverse range of value-added building products.
As CRH continues to evolve in the competitive construction materials sector, analysts and investors alike will be closely monitoring its performance and market strategies.
