Zacks Investment Research cut shares of GCP Applied Technologies (NYSE:GCP) from a hold rating to a strong sell rating in a research note published on Wednesday.
According to Zacks, “GCP Applied Technologies Inc. offer specialty construction chemicals and building materials as well as packaging technologies. GCP Applied Technologies Inc. is headquatered Cambridge, Massachusetts. “
Several other analysts also recently issued reports on the stock. Cowen initiated coverage on shares of GCP Applied Technologies in a research note on Monday, October 30th. They issued a market perform rating and a $31.00 price objective for the company. TheStreet raised shares of GCP Applied Technologies from a d+ rating to a c rating in a research note on Friday, November 24th. Finally, KeyCorp reissued a buy rating and issued a $34.00 price objective on shares of GCP Applied Technologies in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $34.33.
Shares of GCP Applied Technologies (NYSE:GCP) traded up $0.05 during midday trading on Wednesday, reaching $32.95. 448,100 shares of the company’s stock traded hands, compared to its average volume of 548,367. The company has a current ratio of 2.52, a quick ratio of 2.28 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $2,356.83, a P/E ratio of 3.68 and a beta of 1.08. GCP Applied Technologies has a twelve month low of $25.25 and a twelve month high of $34.22.
GCP Applied Technologies (NYSE:GCP) last announced its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The business had revenue of $282.40 million during the quarter, compared to the consensus estimate of $279.05 million. GCP Applied Technologies had a net margin of 56.84% and a return on equity of 124.93%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. research analysts predict that GCP Applied Technologies will post 0.63 earnings per share for the current fiscal year.
In other news, insider Gregory E. Poling sold 26,233 shares of GCP Applied Technologies stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $32.91, for a total transaction of $863,328.03. Following the completion of the sale, the insider now owns 81,151 shares of the company’s stock, valued at $2,670,679.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Phillip J. Mason acquired 3,000 shares of GCP Applied Technologies stock in a transaction that occurred on Monday, November 6th. The stock was acquired at an average cost of $29.96 per share, with a total value of $89,880.00. Following the purchase, the director now directly owns 7,428 shares of the company’s stock, valued at $222,542.88. The disclosure for this purchase can be found here. Insiders own 0.65% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Iridian Asset Management LLC CT raised its stake in GCP Applied Technologies by 6.0% in the third quarter. Iridian Asset Management LLC CT now owns 4,329,358 shares of the construction company’s stock worth $132,911,000 after buying an additional 243,318 shares in the last quarter. JPMorgan Chase & Co. raised its stake in GCP Applied Technologies by 3.8% in the third quarter. JPMorgan Chase & Co. now owns 2,968,808 shares of the construction company’s stock worth $90,548,000 after buying an additional 107,557 shares in the last quarter. Victory Capital Management Inc. raised its stake in GCP Applied Technologies by 40.5% in the third quarter. Victory Capital Management Inc. now owns 1,938,292 shares of the construction company’s stock worth $59,506,000 after buying an additional 558,305 shares in the last quarter. Cramer Rosenthal Mcglynn LLC raised its stake in GCP Applied Technologies by 57.6% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,880,728 shares of the construction company’s stock worth $57,362,000 after buying an additional 687,513 shares in the last quarter. Finally, State Street Corp raised its stake in GCP Applied Technologies by 22.3% in the second quarter. State Street Corp now owns 1,626,130 shares of the construction company’s stock worth $49,599,000 after buying an additional 297,018 shares in the last quarter. 83.96% of the stock is owned by institutional investors.
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GCP Applied Technologies Company Profile
GCP Applied Technologies Inc produces and sells specialty construction chemicals, specialty building materials, and packaging sealants and coatings. The Company operates through two segments: Specialty Construction Chemicals and Specialty Building Materials. The Specialty Construction Chemicals segment manufactures and markets products to manage performance of Portland cement, and materials based on Portland cement, such as concrete admixtures and cement additives, as well as concrete production management systems.
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