CRH (NYSE:CRH) Cut to “Hold” at Zacks Investment Research


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CRH (NYSE:CRH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “CRH plc manufactures cement, concrete products, aggregates, roofing, instulation and other building materials. Through its subsidiaries, the Company operates in Ireland, the United States, the United Kingdom, Spain, Germany and the Netherlands. “

CRH has been the subject of a number of other reports. Berenberg Bank reissued a “hold” rating on shares of CRH in a research note on Monday, March 8th. Credit Suisse Group reaffirmed an “outperform” rating on shares of CRH in a research note on Friday, March 5th. Royal Bank of Canada lowered shares of CRH to a “sector perform” rating and set a $5.00 price target for the company. in a research note on Tuesday, February 9th. Barclays reaffirmed an “underweight” rating on shares of CRH in a research note on Monday, March 8th. Finally, Societe Generale reaffirmed a “buy” rating on shares of CRH in a research note on Tuesday, March 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. CRH currently has a consensus rating of “Hold” and a consensus target price of $21.03.

CRH stock traded up $0.42 during midday trading on Tuesday, reaching $48.16. 958,474 shares of the stock traded hands, compared to its average volume of 541,184. The company has a current ratio of 2.32, a quick ratio of 1.94 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average price of $47.18 and a two-hundred day moving average price of $43.37. The firm has a market cap of $37.75 billion, a price-to-earnings ratio of 18.81 and a beta of 1.07. CRH has a fifty-two week low of $26.56 and a fifty-two week high of $48.76.

Hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank lifted its stake in CRH by 4.5% during the fourth quarter. Comerica Bank now owns 44,592 shares of the construction company’s stock valued at $1,971,000 after purchasing an additional 1,935 shares during the last quarter. Aperio Group LLC lifted its stake in CRH by 4.0% during the fourth quarter. Aperio Group LLC now owns 393,708 shares of the construction company’s stock valued at $16,764,000 after purchasing an additional 15,144 shares during the last quarter. Personal CFO Solutions LLC lifted its stake in CRH by 9.5% during the first quarter. Personal CFO Solutions LLC now owns 5,242 shares of the construction company’s stock valued at $246,000 after purchasing an additional 454 shares during the last quarter. FDx Advisors Inc. raised its holdings in shares of CRH by 253.5% during the first quarter. FDx Advisors Inc. now owns 27,646 shares of the construction company’s stock valued at $1,299,000 after acquiring an additional 19,825 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of CRH by 121.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,870 shares of the construction company’s stock valued at $80,000 after acquiring an additional 1,024 shares during the period. 4.03% of the stock is owned by institutional investors and hedge funds.

CRH Company Profile

CRH Plc manufactures and distributes building materials and products for the construction industry. It operates business through the following segments: Europe Heavyside, Lightside, and Distribution; Americas Materials and Products and Asia. The Europe Heavyside and Americas Materials segments produce and sell primary materials, including cement, aggregates, ready mixed concrete, asphalt, agricultural and chemical lime.

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