CRH plc (CRH): New Buy Recommendation for This Basic Materials Giant

Citi analyst Anthony Pettinari maintained a Buy rating on CRH plc today and set a price target of $141.00. The company’s shares closed yesterday at p8,680.00.

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According to TipRanks, Pettinari is a 5-star analyst with an average return of 16.1% and a 64.49% success rate. Pettinari covers the Consumer Cyclical sector, focusing on stocks such as Avery Dennison, Crown Holdings, and Sealed Air.

CRH plc has an analyst consensus of Strong Buy, with a price target consensus of p9,954.58, which is a 14.68% upside from current levels. In a report released yesterday, Wells Fargo also initiated coverage with a Buy rating on the stock with a $135.00 price target.

Based on CRH plc’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of p8.71 billion and a net profit of p1.12 billion. In comparison, last year the company earned a revenue of p9 billion and had a net profit of p1.21 billion

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRH in relation to earlier this year.