KeyCorp upgraded shares of GCP Applied Technologies Inc. (NYSE:GCP) from a sector weight rating to an overweight rating in a research report sent to investors on Thursday, MarketBeat Ratings reports. They currently have $36.00 price target on the construction company’s stock.
A number of other research analysts have also weighed in on GCP. Monness Crespi & Hardt raised GCP Applied Technologies from a neutral rating to a buy rating and set a $37.00 price objective for the company in a research report on Friday, March 3rd. Zacks Investment Research raised GCP Applied Technologies from a sell rating to a hold rating in a research report on Tuesday, May 9th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $37.00 price objective (up previously from $33.00) on shares of GCP Applied Technologies in a research report on Sunday, March 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. GCP Applied Technologies presently has a consensus rating of Buy and an average target price of $35.50.
Shares of GCP Applied Technologies (GCP) traded up 4.44% on Thursday, hitting $31.75. The company had a trading volume of 288,491 shares. GCP Applied Technologies has a 52 week low of $23.54 and a 52 week high of $34.22. The firm’s 50 day moving average price is $30.98 and its 200-day moving average price is $29.79. The stock has a market capitalization of $2.27 billion, a PE ratio of 59.12 and a beta of 0.76.
GCP Applied Technologies (NYSE:GCP) last posted its quarterly earnings data on Tuesday, May 9th. The construction company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.25. GCP Applied Technologies had a net margin of 2.99% and a negative return on equity of 53.77%. The company had revenue of $225.30 million for the quarter, compared to the consensus estimate of $314.30 million. Analysts forecast that GCP Applied Technologies will post $0.80 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio raised its position in GCP Applied Technologies by 450.0% in the first quarter. Strs Ohio now owns 4,400 shares of the construction company’s stock worth $143,000 after buying an additional 3,600 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in GCP Applied Technologies during the first quarter worth approximately $200,000. WealthTrust Axiom LLC acquired a new stake in GCP Applied Technologies during the first quarter worth approximately $210,000. Teza Capital Management LLC acquired a new stake in GCP Applied Technologies during the first quarter worth approximately $212,000. Finally, Paloma Partners Management Co acquired a new stake in GCP Applied Technologies during the first quarter worth approximately $213,000. 81.36% 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 three segments: Specialty Construction Chemicals, Specialty Building Materials and Darex Packaging Technologies. 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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