CRH Plc [NYSE: CRH] jumped around 0.95 points on Wednesday, while shares priced at $79.32 at the close of the session, up 1.21%. The company report on February 26, 2024 at 4:36 PM that CRH enters binding agreement to acquire Adbri in Australia.
On December 17, 2023, CRH plc, the leading provider of building materials solutions, together with the Barro Group (“Barro” and together with CRH the “Partners”), entered into an agreement with Adbri Ltd (“Adbri”) in relation to a potential transaction to acquire Adbri (the “Offer”) by way of a Scheme of Arrangement (“Scheme”).
Following due diligence over the past two months, we are pleased to announce CRH and Adbri have entered into a binding agreement under which CRH will acquire the remaining 57% of the ordinary shares of Adbri not owned by Barro for the previously agreed cash consideration of A$3.20 per share. The Offer values Adbri at an equity valuation of A$2.1 billion (US$1.4 billion) on a 100% basis and values the approximately 53% of issued share capital that the Partners do not currently have an interest in and which CRH has agreed to acquire at A$1.1 billion (US$0.7 billion).
Compared to the average trading volume of 3.62M shares, CRH reached a trading volume of 5521116 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about CRH Plc [CRH]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CRH shares is $80.63 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CRH stock is a recommendation set at 1.41. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
DA Davidson have made an estimate for CRH Plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 19, 2024. While these analysts kept the previous recommendation, Truist raised their target price to Buy. The new note on the price target was released on December 14, 2023, representing the official price target for CRH Plc stock. Previously, the target price had yet another raise to $58, while Goldman analysts kept a Neutral rating on CRH stock.
The Average True Range (ATR) for CRH Plc is set at 1.42, with the Price to Sales ratio for CRH stock in the period of the last 12 months amounting to 1.62. The Price to Book ratio for the last quarter was 2.79, with the Price to Cash per share for the same quarter was set at 6.18. Price to Free Cash Flow for CRH in the course of the last twelve months was 19.59 with Quick ratio for the last quarter at 0.96.
How has CRH stock performed recently?
CRH Plc [CRH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.11. With this latest performance, CRH shares gained by 12.16% in over the last four-week period, additionally plugging by 38.00% over the last 6 months – not to mention a rise of 70.16% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CRH stock in for the last two-week period is set at 71.76, with the RSI for the last a single of trading hit 72.92, and the three-weeks RSI is set at 70.44 for CRH Plc [CRH]. The present Moving Average for the last 50 days of trading for this stock 71.45, while it was recorded at 78.88 for the last single week of trading, and 59.98 for the last 200 days.
CRH Plc [CRH]: Deeper insight into the fundamentals
CRH Plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.96 and a Current Ratio set at 1.34.
Earnings analysis for CRH Plc [CRH]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CRH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CRH Plc go to 13.63%.
Insider trade positions for CRH Plc [CRH]
The top three institutional holders of CRH stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CRH stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CRH stock with ownership which is approximately 5.8325%.
