GCP Applied Technologies Inc (NYSE:GCP) saw a large decrease in short interest in March. As of March 13th, there was short interest totalling 1,452,000 shares, a decrease of 39.8% from the February 27th total of 2,410,000 shares. Currently, 2.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 289,900 shares, the days-to-cover ratio is currently 5.0 days.
Shares of GCP stock traded up $2.34 during mid-day trading on Thursday, reaching $18.20. The company’s stock had a trading volume of 292,300 shares, compared to its average volume of 325,405. GCP Applied Technologies has a 1-year low of $15.26 and a 1-year high of $30.02. The company has a market cap of $1.29 billion, a P/E ratio of 28.44 and a beta of 0.96. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.60 and a current ratio of 3.05. The firm’s 50-day moving average is $20.57 and its two-hundred day moving average is $21.37.
GCP Applied Technologies (NYSE:GCP) last announced its quarterly earnings data on Wednesday, February 26th. The construction company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. GCP Applied Technologies had a net margin of 4.57% and a return on equity of 11.50%. The company had revenue of $258.30 million during the quarter, compared to analysts’ expectations of $265.84 million. During the same quarter in the prior year, the company posted $0.29 EPS. The business’s revenue was down 6.4% on a year-over-year basis. Sell-side analysts anticipate that GCP Applied Technologies will post 0.83 EPS for the current year.
GCP has been the subject of a number of recent research reports. ValuEngine upgraded shares of GCP Applied Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, March 17th. Zacks Investment Research cut shares of GCP Applied Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, March 4th. Finally, Jefferies Financial Group cut shares of GCP Applied Technologies from a “buy” rating to a “hold” rating and dropped their price objective for the company from $28.00 to $19.00 in a research note on Monday.
Several institutional investors and hedge funds have recently bought and sold shares of GCP. NumerixS Investment Technologies Inc bought a new stake in shares of GCP Applied Technologies in the 4th quarter worth about $57,000. Marshall Wace LLP bought a new stake in shares of GCP Applied Technologies in the 1st quarter worth about $88,000. Tower Research Capital LLC TRC bought a new stake in shares of GCP Applied Technologies in the 3rd quarter worth about $104,000. Point72 Asset Management L.P. bought a new stake in shares of GCP Applied Technologies in the 3rd quarter worth about $177,000. Finally, ProShare Advisors LLC bought a new stake in shares of GCP Applied Technologies in the 4th quarter worth about $200,000. 73.91% of the stock is currently owned by institutional investors and hedge funds.
About GCP Applied Technologies
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 and engineered systems 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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