CRH (NYSE:CRH) Sets New 1-Year High - Here's Why

CRH plc (NYSE:CRH - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $104.37 and last traded at $104.25, with a volume of 2135756 shares. The stock had previously closed at $101.16.

Analysts Set New Price Targets

CRH has been the subject of a number of analyst reports. Truist Financial increased their price target on CRH from $110.00 to $120.00 and gave the company a "buy" rating in a report on Friday, November 8th. Hsbc Global Res raised CRH to a "strong-buy" rating in a report on Monday, November 11th. StockNews.com upgraded CRH from a "hold" rating to a "buy" rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised their price objective on CRH from $114.00 to $116.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 20th. Finally, Morgan Stanley boosted their target price on shares of CRH from $95.00 to $104.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $107.75.

CRH Stock Performance

The company has a market cap of $69.31 billion, a P/E ratio of 20.41, a P/E/G ratio of 1.18 and a beta of 1.30. The stock has a 50 day moving average price of $97.10 and a 200 day moving average price of $93.03.

Hedge Funds Weigh In On CRH

Several hedge funds have recently made changes to their positions in the business. Deseret Mutual Benefit Administrators bought a new stake in CRH during the third quarter worth approximately $25,000. UMB Bank n.a. lifted its holdings in shares of CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company's stock valued at $28,000 after purchasing an additional 125 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in CRH in the 4th quarter worth about $32,000. Meeder Asset Management Inc. acquired a new stake in CRH during the 3rd quarter worth about $35,000. Finally, Baillie Gifford & Co. lifted its position in shares of CRH by 70.7% in the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company's stock valued at $36,000 after acquiring an additional 162 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

CRH Company Profile

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.