GCP Applied Technologies Inc. (NYSE:GCP) Receives Consensus Rating of “Buy” from Analysts
Shares of GCP Applied Technologies Inc. (NYSE:GCP) have earned a consensus rating of “Buy” from the seven analysts that are presently covering the firm. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $20.50.
Several research analysts have recently commented on GCP shares. Zacks Investment Research cut shares of GCP Applied Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Northcoast Research initiated coverage on shares of GCP Applied Technologies in a research report on Wednesday, June 29th. They set a “buy” rating on the stock. Finally, CL King initiated coverage on shares of GCP Applied Technologies in a research report on Wednesday, June 29th. They set a “buy” rating on the stock.
A number of hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. raised its stake in shares of GCP Applied Technologies by 0.5% in the second quarter. Macquarie Group Ltd. now owns 97,650 shares of the company’s stock worth $2,543,000 after buying an additional 450 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of GCP Applied Technologies by 99.4% in the third quarter. BNP Paribas Arbitrage SA now owns 5,955 shares of the company’s stock worth $169,000 after buying an additional 2,968 shares in the last quarter. Simplex Trading LLC bought a new stake in shares of GCP Applied Technologies during the third quarter worth $122,000. Amalgamated Bank bought a new stake in shares of GCP Applied Technologies during the second quarter worth $206,000. Finally, Legal & General Group Plc raised its stake in shares of GCP Applied Technologies by 181.0% in the second quarter. Legal & General Group Plc now owns 12,739 shares of the company’s stock worth $327,000 after buying an additional 8,205 shares in the last quarter. Hedge funds and other institutional investors own 84.92% of the company’s stock.
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Shares of GCP Applied Technologies (NYSE:GCP) traded up 0.65% during mid-day trading on Monday, hitting $26.15. 290,414 shares of the company’s stock traded hands. The company has a market cap of $1.85 billion and a PE ratio of 47.29. GCP Applied Technologies has a 52 week low of $14.47 and a 52 week high of $30.12. The firm has a 50-day moving average of $28.12 and a 200 day moving average of $25.40.
GCP Applied Technologies (NYSE:GCP) last announced its earnings results on Wednesday, August 10th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.04. Equities research analysts predict that GCP Applied Technologies will post $1.49 EPS for the current year.
GCP Applied Technologies Company Profile
GCP Applied Technologies Inc (GCP) is engaged in the production and sale of specialty construction chemicals, specialty building materials, and packaging sealants and coatings. The Company operates through three segments: Specialty Construction Chemicals (SCC), Specialty Building Materials (SBM) and Darex Packaging Technologies (Darex).
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