GCP Applied Technologies Inc. (GCP) Upgraded to “Hold” by Zacks Investment Research
GCP Applied Technologies Inc. (NYSE:GCP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
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. “
A number of other research firms have also recently weighed in on GCP. Northcoast Research initiated coverage on GCP Applied Technologies in a report on Wednesday, June 29th. They issued a “buy” rating on the stock. CL King initiated coverage on GCP Applied Technologies in a report on Wednesday, June 29th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $22.00.
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Shares of GCP Applied Technologies (NYSE:GCP) traded down 0.88% during midday trading on Tuesday, hitting $25.86. The stock had a trading volume of 472,148 shares. The stock has a market cap of $1.83 billion and a P/E ratio of 46.76. The stock has a 50-day moving average price of $27.93 and a 200-day moving average price of $25.52. GCP Applied Technologies has a 12-month low of $14.47 and a 12-month high of $30.12.
GCP Applied Technologies (NYSE:GCP) last released its quarterly earnings results on Wednesday, August 10th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by $0.04. Equities analysts forecast that GCP Applied Technologies will post $1.49 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of GCP. BNP Paribas Arbitrage SA raised its position 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. Schwab Charles Investment Management Inc. raised its position in shares of GCP Applied Technologies by 88.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 242,795 shares of the company’s stock worth $6,323,000 after buying an additional 113,732 shares in the last quarter. Amalgamated Bank acquired a new position in shares of GCP Applied Technologies during the second quarter worth $206,000. Legal & General Group Plc raised its position 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. Finally, Kimelman & Baird LLC acquired a new position in shares of GCP Applied Technologies during the second quarter worth $226,000. 84.92% of the stock is currently owned by institutional investors.
About GCP Applied Technologies
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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