GCP Applied Technologies (GCP) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of GCP Applied Technologies (NYSE:GCP) from a hold rating to a strong sell rating in a research note released on Wednesday, January 3rd.

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 analysts have also commented on the stock. TheStreet raised shares of GCP Applied Technologies from a d+ rating to a c rating in a research report on Friday, November 24th. KeyCorp reissued a buy rating and issued a $34.00 price target on shares of GCP Applied Technologies in a research report on Friday, November 3rd. Finally, Cowen assumed coverage on shares of GCP Applied Technologies in a research report on Monday, October 30th. They issued a market perform rating and a $31.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. GCP Applied Technologies currently has an average rating of Buy and an average price target of $34.33.

GCP Applied Technologies (NYSE GCP) traded up $0.35 during mid-day trading on Wednesday, reaching $34.40. 364,500 shares of the company’s stock were exchanged, compared to its average volume of 463,700. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.52 and a quick ratio of 2.28. GCP Applied Technologies has a one year low of $25.25 and a one year high of $34.45. The company has a market capitalization of $2,440.00 and a PE ratio of -63.70.

GCP Applied Technologies (NYSE:GCP) last released its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. The company had revenue of $282.40 million during the quarter, compared to analysts’ expectations of $279.05 million. GCP Applied Technologies had a negative net margin of 6.37% and a negative return on equity of 33.49%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 earnings per share. equities analysts forecast that GCP Applied Technologies will post 0.63 earnings per share for the current fiscal year.

In other GCP Applied Technologies news, Director Phillip J. Mason acquired 3,000 shares of GCP Applied Technologies stock in a transaction on Monday, November 6th. The shares were purchased at an average cost of $29.96 per share, with a total value of $89,880.00. Following the completion of the purchase, the director now owns 7,428 shares in the company, valued at $222,542.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gregory E. Poling sold 26,233 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $32.91, for a total transaction of $863,328.03. Following the completion of the transaction, the insider now directly owns 81,151 shares in the company, valued at $2,670,679.41. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC bought a new position in shares of GCP Applied Technologies during the second quarter worth $219,000. Cubist Systematic Strategies LLC boosted its position in shares of GCP Applied Technologies by 211.4% during the third quarter. Cubist Systematic Strategies LLC now owns 7,163 shares of the construction company’s stock worth $220,000 after purchasing an additional 4,863 shares in the last quarter. Stifel Financial Corp bought a new position in shares of GCP Applied Technologies during the third quarter worth $221,000. Jane Street Group LLC bought a new position in shares of GCP Applied Technologies during the third quarter worth $249,000. Finally, AHL Partners LLP bought a new position in shares of GCP Applied Technologies during the second quarter worth $258,000. 83.98% of the stock is currently owned by hedge funds and other institutional investors.

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About GCP Applied Technologies

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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