GCP Applied Technologies Inc. (GCP) Cut to Strong Sell at Zacks Investment Research

GCP Applied Technologies Inc. (NYSE:GCP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday, August 2nd.

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 price target on the stock in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $35.50.

GCP Applied Technologies (NYSE:GCP) traded down 0.52% on Wednesday, reaching $28.60. The company had a trading volume of 489,729 shares. The stock’s 50 day moving average is $30.52 and its 200-day moving average is $30.63. The stock has a market capitalization of $2.05 billion, a P/E ratio of 650.00 and a beta of 0.76. GCP Applied Technologies has a 1-year low of $25.10 and a 1-year high of $34.22.

GCP Applied Technologies (NYSE:GCP) last issued its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $287.20 million for the quarter, compared to analysts’ expectations of $309.70 million. GCP Applied Technologies had a negative return on equity of 44.32% and a net margin of 0.26%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities analysts predict that GCP Applied Technologies will post $0.78 EPS for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in GCP. OxFORD Asset Management LLP purchased a new position in GCP Applied Technologies during the second quarter valued at $1,210,000. Dimensional Fund Advisors LP increased its position in GCP Applied Technologies by 29.0% in the second quarter. Dimensional Fund Advisors LP now owns 944,947 shares of the construction company’s stock valued at $28,820,000 after buying an additional 212,349 shares during the period. Parametric Portfolio Associates LLC increased its position in GCP Applied Technologies by 8.2% in the second quarter. Parametric Portfolio Associates LLC now owns 100,923 shares of the construction company’s stock valued at $3,078,000 after buying an additional 7,626 shares during the period. Suntrust Banks Inc. increased its position in GCP Applied Technologies by 0.3% in the second quarter. Suntrust Banks Inc. now owns 160,086 shares of the construction company’s stock valued at $4,882,000 after buying an additional 441 shares during the period. Finally, California Public Employees Retirement System increased its position in GCP Applied Technologies by 6.7% in the second quarter. California Public Employees Retirement System now owns 152,100 shares of the construction company’s stock valued at $4,639,000 after buying an additional 9,600 shares during the period. Institutional investors and hedge funds own 81.64% 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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