W.R. Grace & Co. (GRA) Given a $82.00 Price Target by Credit Suisse Group AG Analysts
W.R. Grace & Co. (NYSE:GRA) received a $82.00 price objective from analysts at Credit Suisse Group AG in a research note issued on Monday. The firm currently has a “buy” rating on the stock. Credit Suisse Group AG’s price target points to a potential upside of 23.49% from the company’s current price.
GRA has been the subject of a number of other research reports. TheStreet lowered shares of W.R. Grace & Co. from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Zacks Investment Research lowered shares of W.R. Grace & Co. from a “hold” rating to a “strong sell” rating in a research note on Friday, October 28th. Robert W. Baird reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of W.R. Grace & Co. in a research note on Tuesday, August 2nd. Seaport Global Securities assumed coverage on shares of W.R. Grace & Co. in a research note on Tuesday, September 13th. They issued a “neutral” rating and a $81.00 price objective for the company. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $80.00 price objective (down previously from $89.00) on shares of W.R. Grace & Co. in a research note on Thursday, October 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. W.R. Grace & Co. has an average rating of “Hold” and an average target price of $84.27.
W.R. Grace & Co. (NYSE:GRA) traded up 0.44% during mid-day trading on Monday, hitting $66.69. The stock had a trading volume of 875,045 shares. The firm’s 50-day moving average is $68.51 and its 200 day moving average is $73.84. The stock has a market cap of $4.67 billion, a PE ratio of 47.43 and a beta of 1.25. W.R. Grace & Co. has a one year low of $63.84 and a one year high of $101.17.
W.R. Grace & Co. (NYSE:GRA) last issued its earnings results on Wednesday, October 26th. The company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.04. The firm earned $404.50 million during the quarter, compared to analysts’ expectations of $414.13 million. W.R. Grace & Co. had a net margin of 5.00% and a return on equity of 62.32%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. Equities research analysts expect that W.R. Grace & Co. will post $3.08 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be given a $0.17 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $0.68 dividend on an annualized basis and a yield of 1.02%. W.R. Grace & Co.’s payout ratio is 50.00%.
In other W.R. Grace & Co. news, Chairman Alfred E. Festa sold 80,561 shares of the stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $68.27, for a total value of $5,499,899.47. Following the completion of the sale, the chairman now owns 311,844 shares in the company, valued at approximately $21,289,589.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GRA. Price T Rowe Associates Inc. MD increased its position in W.R. Grace & Co. by 9.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 163,526 shares of the company’s stock worth $12,068,000 after buying an additional 13,863 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in W.R. Grace & Co. during the third quarter worth $344,000. Credit Suisse AG increased its position in W.R. Grace & Co. by 11.3% in the third quarter. Credit Suisse AG now owns 140,762 shares of the company’s stock worth $10,388,000 after buying an additional 14,276 shares in the last quarter. Verition Fund Management LLC increased its position in W.R. Grace & Co. by 51.1% in the third quarter. Verition Fund Management LLC now owns 9,076 shares of the company’s stock worth $670,000 after buying an additional 3,070 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in W.R. Grace & Co. during the third quarter worth $332,000. Institutional investors and hedge funds own 82.46% of the company’s stock.
W.R. Grace & Co. Company Profile
W.R. Grace & Co (Grace) is engaged in the production and sale of specialty chemicals and specialty materials. The Company operates in three segments: Grace Catalysts Technologies, Grace Materials Technologies and Grace Construction Products. Its Grace Catalysts Technologies segment produces and sells catalysts and related products and technologies used in refining, petrochemical and other chemical manufacturing applications, including Fluid catalytic cracking catalysts, Hydroprocessing catalysts, and Polyolefin catalysts and catalyst supports.
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