Zacks Investment Research cut shares of GCP Applied Technologies Inc. (NYSE:GCP) from a buy rating to a hold rating in a research note released on Monday.
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. “
Separately, KeyCorp upgraded GCP Applied Technologies from a sector weight rating to an overweight rating and set a $36.00 target price on the stock in a research note on Thursday, June 22nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. GCP Applied Technologies presently has an average rating of Buy and a consensus target price of $35.40.
Shares of GCP Applied Technologies (NYSE:GCP) traded up 0.085% during mid-day trading on Monday, reaching $29.325. The company had a trading volume of 114,836 shares. The company has a 50 day moving average price of $30.74 and a 200 day moving average price of $30.74. GCP Applied Technologies has a one year low of $25.10 and a one year high of $34.23. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 666.477 and a beta of 0.97.
GCP Applied Technologies (NYSE:GCP) last issued its earnings results on Thursday, August 3rd. The construction company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). GCP Applied Technologies had a net margin of 0.26% and a negative return on equity of 44.32%. The business had revenue of $287.20 million for the quarter, compared to analysts’ expectations of $309.70 million. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts anticipate that GCP Applied Technologies will post $0.61 EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of GCP. Bank of New York Mellon Corp boosted its stake in GCP Applied Technologies by 6.7% during the 1st quarter. Bank of New York Mellon Corp now owns 475,124 shares of the construction company’s stock valued at $15,513,000 after purchasing an additional 29,878 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in GCP Applied Technologies by 58.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 41,303 shares of the construction company’s stock valued at $1,349,000 after purchasing an additional 15,158 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in GCP Applied Technologies by 424.9% during the 1st quarter. Ameriprise Financial Inc. now owns 81,408 shares of the construction company’s stock valued at $2,657,000 after purchasing an additional 65,899 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in GCP Applied Technologies by 53.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 93,297 shares of the construction company’s stock valued at $3,046,000 after purchasing an additional 32,621 shares during the last quarter. Finally, KBC Group NV boosted its stake in GCP Applied Technologies by 4.0% during the 1st quarter. KBC Group NV now owns 12,064 shares of the construction company’s stock valued at $394,000 after purchasing an additional 464 shares during the last quarter. Institutional investors and hedge funds own 82.21% of the company’s stock.
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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