GCP Applied Technologies Inc. (NYSE:GCP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday, July 12th.
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 objective for the company in a report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $35.50.
Shares of GCP Applied Technologies (GCP) traded down 1.80% on Wednesday, reaching $29.95. The company had a trading volume of 490,939 shares. The firm has a market cap of $2.14 billion, a P/E ratio of 55.77 and a beta of 0.76. GCP Applied Technologies has a one year low of $25.10 and a one year high of $34.22. The company has a 50-day moving average price of $30.64 and a 200-day moving average price of $30.50.
GCP Applied Technologies (NYSE:GCP) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $287.20 million during the quarter, compared to the consensus estimate of $309.70 million. GCP Applied Technologies had a net margin of 0.26% and a negative return on equity of 44.32%. The company’s revenue was up 1.1% compared to the same quarter last year. On average, analysts expect that GCP Applied Technologies will post $0.78 earnings per share for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in GCP Applied Technologies by 53,633.5% in the first quarter. BlackRock Inc. now owns 4,539,941 shares of the construction company’s stock worth $148,228,000 after buying an additional 4,531,492 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in GCP Applied Technologies during the first quarter worth about $54,104,000. Norges Bank acquired a new position in GCP Applied Technologies during the fourth quarter worth about $39,193,000. Iridian Asset Management LLC CT boosted its position in GCP Applied Technologies by 24.1% in the second quarter. Iridian Asset Management LLC CT now owns 4,086,040 shares of the construction company’s stock worth $124,624,000 after buying an additional 794,000 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in GCP Applied Technologies by 25.4% in the first quarter. JPMorgan Chase & Co. now owns 2,748,310 shares of the construction company’s stock worth $89,732,000 after buying an additional 557,518 shares during the last quarter. Institutional investors and hedge funds own 81.64% of the company’s stock.
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.
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