Monness Crespi & Hardt Lowers GCP Applied Technologies (GCP) to Neutral

GCP Applied Technologies (NYSE:GCP) was downgraded by Monness Crespi & Hardt from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday.

A number of other brokerages also recently weighed in on GCP. ValuEngine raised GCP Applied Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, May 12th. Zacks Investment Research raised GCP Applied Technologies from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Wednesday, July 11th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Shares of GCP stock opened at $27.85 on Wednesday. GCP Applied Technologies has a 1-year low of $27.25 and a 1-year high of $34.79. The stock has a market cap of $2.02 billion, a P/E ratio of 43.52, a P/E/G ratio of 1.48 and a beta of 1.37. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.38 and a current ratio of 2.71.

GCP Applied Technologies (NYSE:GCP) last issued its quarterly earnings data on Tuesday, August 7th. The construction company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.12). GCP Applied Technologies had a net margin of 50.82% and a return on equity of 14.19%. The company had revenue of $302.80 million for the quarter, compared to the consensus estimate of $321.80 million. equities analysts anticipate that GCP Applied Technologies will post 1.05 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its stake in GCP Applied Technologies by 246.5% in the first quarter. Envestnet Asset Management Inc. now owns 3,631 shares of the construction company’s stock valued at $102,000 after buying an additional 2,583 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new stake in GCP Applied Technologies in the first quarter valued at about $103,000. Simplex Trading LLC purchased a new stake in GCP Applied Technologies in the third quarter valued at about $122,000. Strs Ohio raised its stake in GCP Applied Technologies by 450.0% in the first quarter. Strs Ohio now owns 4,400 shares of the construction company’s stock valued at $143,000 after buying an additional 3,600 shares during the last quarter. Finally, FNY Partners Fund LP purchased a new stake in GCP Applied Technologies in the fourth quarter valued at about $159,000. 83.88% of the stock is currently owned by institutional investors.

GCP Applied Technologies Company Profile

GCP Applied Technologies Inc produces and sells specialty construction chemicals and specialty building materials worldwide. Its Specialty Construction Chemicals segment offers concrete admixtures under the CONCERA, CLARENA, ADVA, STRUX, MIRA, TYTRO, POLARSET, ECLIPSE, DARACEM, DARASET, DCI, RECOVER, WRDA, and ZYLA brands; admixtures for decorative concrete under the PIERI brand; concrete production management system under the VERIFI and DUCTILCRETE brands; and cement additives under the OPTEVA HE, TAVERO VM, CBA, SYNCHRO, HEA2, TDA, and ESE brands.

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