GCP Applied Technologies Inc. (GCP) Receives “Buy” Rating from KeyCorp

GCP Applied Technologies Inc. (NYSE:GCP)‘s stock had its “buy” rating restated by stock analysts at KeyCorp in a research note issued on Friday, November 3rd. They currently have a $34.00 price target on the construction company’s stock. KeyCorp’s target price points to a potential upside of 13.71% from the stock’s previous close. KeyCorp also issued estimates for GCP Applied Technologies’ Q4 2017 earnings at $0.26 EPS and FY2018 earnings at $0.85 EPS.

Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of GCP Applied Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Cowen and Company initiated coverage on shares of GCP Applied Technologies in a report on Monday, October 30th. They set a “market perform” rating and a $31.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $34.33.

GCP Applied Technologies (NYSE:GCP) traded up $0.10 on Friday, reaching $29.90. 272,362 shares of the company’s stock traded hands, compared to its average volume of 467,315. The company has a quick ratio of 2.28, a current ratio of 2.52 and a debt-to-equity ratio of 0.91. The firm has a market cap of $2,140.00 and a PE ratio of 43.75. GCP Applied Technologies has a 52-week low of $25.25 and a 52-week high of $34.22.

GCP Applied Technologies (NYSE:GCP) last issued its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. GCP Applied Technologies had a net margin of 56.84% and a return on equity of 124.93%. The firm had revenue of $282.40 million during the quarter, compared to analysts’ expectations of $279.05 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. sell-side analysts expect that GCP Applied Technologies will post 0.63 EPS for the current fiscal year.

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In other GCP Applied Technologies news, Director Phillip J. Mason acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was acquired at an average price of $29.96 per share, for a total transaction of $89,880.00. Following the acquisition, the director now directly owns 7,428 shares in the company, valued at $222,542.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in GCP Applied Technologies by 53,633.5% in the 1st quarter. BlackRock Inc. now owns 4,539,941 shares of the construction company’s stock valued at $148,228,000 after purchasing an additional 4,531,492 shares during the period. Bamco Inc. NY acquired a new stake in GCP Applied Technologies in the 3rd quarter valued at $33,770,000. Iridian Asset Management LLC CT grew its position in GCP Applied Technologies by 24.1% in the 2nd quarter. Iridian Asset Management LLC CT now owns 4,086,040 shares of the construction company’s stock valued at $124,624,000 after purchasing an additional 794,000 shares during the period. Cramer Rosenthal Mcglynn LLC grew its position in GCP Applied Technologies by 57.6% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,880,728 shares of the construction company’s stock valued at $57,362,000 after purchasing an additional 687,513 shares during the period. Finally, York Capital Management Global Advisors LLC grew its position in GCP Applied Technologies by 79.2% in the 2nd quarter. York Capital Management Global Advisors LLC now owns 1,388,234 shares of the construction company’s stock valued at $42,341,000 after purchasing an additional 613,751 shares during the period. 81.58% of the stock is owned by institutional investors.

About GCP Applied Technologies

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.

Analyst Recommendations for GCP Applied Technologies (NYSE:GCP)

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