KeyCorp Reiterates “Buy” Rating for GCP Applied Technologies Inc. (GCP)
GCP Applied Technologies Inc. (NYSE:GCP)‘s stock had its “buy” rating reissued by stock analysts at KeyCorp in a report issued on Friday. They presently have a $34.00 target price on the construction company’s stock. KeyCorp’s target price indicates a potential upside of 15.06% from the stock’s current price. KeyCorp also issued estimates for GCP Applied Technologies’ Q4 2017 earnings at $0.26 EPS and FY2018 earnings at $0.85 EPS.
A number of other equities analysts also recently weighed in on the stock. Cowen and Company assumed coverage on shares of GCP Applied Technologies in a research note on Monday, October 30th. They set a “market perform” rating and a $31.00 price target on the stock. Zacks Investment Research lowered shares of GCP Applied Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $34.33.
GCP Applied Technologies (NYSE:GCP) traded up $0.30 during mid-day trading on Friday, reaching $29.55. The company had a trading volume of 488,511 shares, compared to its average volume of 525,699. The company has a market cap of $2.05 billion, a P/E ratio of 42.13 and a beta of 0.88. The company has a debt-to-equity ratio of -5.83, a quick ratio of 1.16 and a current ratio of 1.39.
GCP Applied Technologies (NYSE:GCP) last posted its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. The company had revenue of $282.40 million for the quarter, compared to the consensus estimate of $279.05 million. GCP Applied Technologies had a net margin of 56.84% and a negative return on equity of 36.75%. GCP Applied Technologies’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share. research analysts predict that GCP Applied Technologies will post 0.61 EPS for the current year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Paloma Partners Management Co acquired a new stake in GCP Applied Technologies during the 1st quarter valued at $213,000. Janus Henderson Group PLC acquired a new stake in GCP Applied Technologies during the 2nd quarter valued at $219,000. AHL Partners LLP acquired a new stake in GCP Applied Technologies during the 2nd quarter valued at $258,000. Amalgamated Bank grew its holdings in GCP Applied Technologies by 3.4% during the 2nd quarter. Amalgamated Bank now owns 9,027 shares of the construction company’s stock valued at $275,000 after purchasing an additional 301 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in GCP Applied Technologies during the 2nd quarter valued at $317,000. 81.28% of the stock is owned by institutional investors and hedge funds.
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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