CRH (CRH)

Sector:

Construction and Building Materials

Index:

FTSE 100

2,391.00p
   
  • Change Today:
    176.00p
  • 52 Week High: 3,100.00
  • 52 Week Low: 1,574.00
  • Currency: UK Pounds
  • Shares Issued: 784.81m
  • Volume: 1,696,006
  • Market Cap: £18,765m
  • RiskGrade: 376

UBS upgrades Ferguson, downgrades Travis Perkins

By Michele Maatouk

Date: Wednesday 22 Jan 2020

LONDON (ShareCast) - (Sharecast News) - UBS upgraded its stance on Ferguson on Wednesday but downgraded Travis Perkins, as it took a look at the European building materials sector.
"After a strong re-rating in 2019, we are somewhat more selective but we see some opportunities in the sector," UBS said.

The bank upgraded plumbing and heating company Ferguson - formerly Wolseley - to 'buy' from 'neutral' and boosted the price target to 8,075p from 6,600p on margin growth and some further multiple re-rating potential.

"We recognise a part of the re-rating story has played out, with the shares trading on 17x price-to-earnings versus a trough of 12x in Dec-18. The discount to US peers has narrowed to circa 15% from a peak of 35%. However, we think the probability of an eventual re-listing in the US is relatively high and we expect the board to recommend a dual listing as a first step."

It downgraded its rating on builders' merchant Travis Perkins to 'sell' from 'neutral' but lifted the price target to 1,400p from 1,380p after the recent re-rating. UBS said the shares look expensive and the market is getting "over-optimistic" about a UK recovery.

"Shares have re-rated from a trough of 10x to 14.5x P/E (long-term average around 11.5x and peak multiple around 16x) which we think exposes shareholder to downside, in particular ahead of potentially earning dilutive streamlining of the portfolio," UBS said.

Irish building materials company CRH remained its 'top pick', rated at 'buy' with a 3,300p price target.

At 1240 GMT, Ferguson shares were up 0.1% at 7,110p, while Travis Perkins was down 1.2% at 1,619.50p and CRH shares were 0.7% lower at 2,926p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

CRH Market Data

Currency UK Pounds
Share Price 2,391.00p
Change Today 176.00p
% Change 7.95 %
52 Week High 3,100.00
52 Week Low 1,574.00
Volume 1,696,006
Shares Issued 784.81m
Market Cap £18,765m
RiskGrade 376

CRH Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
64.46% below the market average64.46% below the market average64.46% below the market average64.46% below the market average64.46% below the market average
52.63% below the sector average52.63% below the sector average52.63% below the sector average52.63% below the sector average52.63% below the sector average
Price Trend
22.52% above the market average22.52% above the market average22.52% above the market average22.52% above the market average22.52% above the market average
23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average
Income
14.55% below the market average14.55% below the market average14.55% below the market average14.55% below the market average14.55% below the market average
53.33% below the sector average53.33% below the sector average53.33% below the sector average53.33% below the sector average53.33% below the sector average
Growth
7.39% below the market average7.39% below the market average7.39% below the market average7.39% below the market average7.39% below the market average
21.05% below the sector average21.05% below the sector average21.05% below the sector average21.05% below the sector average21.05% below the sector average

What The Brokers Say

Strong Buy 10
Buy 0
Neutral 3
Sell 0
Strong Sell 1
Total 14
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CRH Dividends

  Latest Previous
  Final Interim
Ex-Div 12-Mar-20 05-Sep-19
Paid 28-Apr-20 25-Sep-19
Amount 63.00¢ 20.00¢

Trades for 09-Apr-2020

Time Volume / Share Price
15:36 48 @ 2,391.00p
15:35 48 @ 2,390.00p
15:35 101 @ 2,390.00p
15:35 84 @ 2,390.00p
15:35 80 @ 2,390.00p

CRH Key Personnel

Chair Richard (Richie) Boucher

Top of Page