Jefferies Group Reiterates “Buy” Rating for GCP Applied Technologies Inc. (GCP)
GCP Applied Technologies Inc. (NYSE:GCP)‘s stock had its “buy” rating reaffirmed by Jefferies Group in a report released on Wednesday. They currently have a $33.00 price objective on the stock. Jefferies Group’s price target suggests a potential upside of 20.66% from the stock’s previous close.
Separately, Zacks Investment Research lowered shares of GCP Applied Technologies from a “hold” rating to a “sell” rating in a research note on Friday, August 12th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.67.
Shares of GCP Applied Technologies (NYSE:GCP) opened at 27.35 on Wednesday. The firm’s 50-day moving average is $26.50 and its 200 day moving average is $26.40. The stock has a market capitalization of $1.94 billion and a P/E ratio of 25.30. GCP Applied Technologies has a 1-year low of $14.47 and a 1-year high of $30.12.
GCP Applied Technologies (NYSE:GCP) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by $0.06. GCP Applied Technologies had a net margin of 5.61% and a return on equity of 1,424.27%. The firm had revenue of $342.50 million for the quarter, compared to analysts’ expectations of $362.50 million. On average, analysts expect that GCP Applied Technologies will post $1.41 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Tyrian Investments L.P. bought a new stake in GCP Applied Technologies during the second quarter worth about $3,332,000. Guggenheim Capital LLC raised its stake in GCP Applied Technologies by 350.8% in the second quarter. Guggenheim Capital LLC now owns 58,559 shares of the company’s stock worth $1,525,000 after buying an additional 45,570 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in GCP Applied Technologies by 14.6% in the second quarter. Adage Capital Partners GP L.L.C. now owns 3,804,896 shares of the company’s stock worth $99,079,000 after buying an additional 485,079 shares during the period. Panagora Asset Management Inc. raised its stake in GCP Applied Technologies by 359.3% in the second quarter. Panagora Asset Management Inc. now owns 232,351 shares of the company’s stock worth $6,050,000 after buying an additional 181,759 shares during the period. Finally, AQR Capital Management LLC raised its stake in GCP Applied Technologies by 815.1% in the second quarter. AQR Capital Management LLC now owns 151,932 shares of the company’s stock worth $3,956,000 after buying an additional 135,329 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.
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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