GCP Applied Technologies Inc (NYSE:GCP) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $34.20.
A number of research analysts have commented on the company. Zacks Investment Research cut GCP Applied Technologies from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Cowen initiated coverage on GCP Applied Technologies in a research note on Monday, October 30th. They issued a “market perform” rating and a $31.00 price objective on the stock. TheStreet upgraded GCP Applied Technologies from a “d+” rating to a “c” rating in a research note on Friday, November 24th. Finally, KeyCorp reiterated a “buy” rating and issued a $34.00 price objective on shares of GCP Applied Technologies in a research note on Friday, November 3rd.
GCP Applied Technologies (GCP) opened at $34.00 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.28 and a current ratio of 2.52. GCP Applied Technologies has a 52 week low of $25.35 and a 52 week high of $34.55. The company has a market capitalization of $2,440.00 and a price-to-earnings ratio of -62.96.
GCP Applied Technologies (NYSE:GCP) last released its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. GCP Applied Technologies had a negative return on equity of 33.49% and a negative net margin of 6.37%. The company had revenue of $282.40 million for the quarter, compared to analysts’ expectations of $279.05 million. During the same period in the prior year, the firm earned $0.21 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. sell-side analysts predict that GCP Applied Technologies will post 0.63 EPS for the current fiscal year.
In related news, Director Phillip J. Mason acquired 3,000 shares of GCP Applied Technologies stock in a transaction dated Monday, November 6th. The shares were acquired at an average cost of $29.96 per share, for a total transaction of $89,880.00. Following the completion of the purchase, the director now owns 7,428 shares in the company, valued at $222,542.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gregory E. Poling sold 26,233 shares of the stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $32.91, for a total value of $863,328.03. Following the completion of the sale, the insider now owns 81,151 shares in the company, valued at $2,670,679.41. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in GCP. Schwab Charles Investment Management Inc. increased its holdings in GCP Applied Technologies by 13.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 331,914 shares of the construction company’s stock valued at $10,124,000 after buying an additional 39,192 shares during the last quarter. First Trust Advisors LP purchased a new position in GCP Applied Technologies in the second quarter valued at $1,439,000. SG Americas Securities LLC purchased a new position in GCP Applied Technologies in the second quarter valued at $317,000. Legal & General Group Plc increased its holdings in GCP Applied Technologies by 1.2% in the second quarter. Legal & General Group Plc now owns 25,493 shares of the construction company’s stock valued at $776,000 after buying an additional 309 shares during the last quarter. Finally, Swiss National Bank increased its holdings in GCP Applied Technologies by 2.3% in the second quarter. Swiss National Bank now owns 119,300 shares of the construction company’s stock valued at $3,639,000 after buying an additional 2,700 shares during the last quarter. Institutional investors and hedge funds own 83.98% of the company’s stock.
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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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