Zacks Investment Research Downgrades GCP Applied Technologies (GCP) to Strong Sell

GCP Applied Technologies (NYSE:GCP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.

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. “

GCP has been the subject of several other research reports. Cowen assumed coverage on shares of GCP Applied Technologies in a research note on Monday, October 30th. They set a “market perform” rating and a $31.00 price target for the company. TheStreet raised shares of GCP Applied Technologies from a “d+” rating to a “c” rating in a research note on Friday, November 24th. Finally, KeyCorp reaffirmed a “buy” rating and set a $34.00 price target on shares of GCP Applied Technologies in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. GCP Applied Technologies has an average rating of “Buy” and a consensus price target of $34.33.

GCP Applied Technologies (GCP) traded up $0.05 during mid-day trading on Wednesday, hitting $32.95. 448,100 shares of the stock traded hands, compared to its average volume of 548,367. The company has a market capitalization of $2,356.83, a P/E ratio of 3.68 and a beta of 1.08. GCP Applied Technologies has a 12-month low of $25.25 and a 12-month high of $34.22. 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 (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 Thomson Reuters’ consensus estimate of $0.19 by $0.03. The firm had revenue of $282.40 million during the quarter, compared to the consensus estimate of $279.05 million. GCP Applied Technologies had a net margin of 56.84% and a return on equity of 124.93%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 earnings per share. sell-side analysts expect that GCP Applied Technologies will post 0.63 earnings per share for the current year.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in GCP. Schwab Charles Investment Management Inc. raised its stake in GCP Applied Technologies by 13.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 331,914 shares of the construction company’s stock worth $10,124,000 after buying an additional 39,192 shares during the last quarter. First Trust Advisors LP bought a new position in GCP Applied Technologies during the second quarter worth $1,439,000. Rhumbline Advisers raised its stake in GCP Applied Technologies by 6.2% during the second quarter. Rhumbline Advisers now owns 89,614 shares of the construction company’s stock worth $2,733,000 after buying an additional 5,205 shares during the last quarter. SG Americas Securities LLC bought a new position in GCP Applied Technologies during the second quarter worth $317,000. Finally, Legal & General Group Plc raised its stake in GCP Applied Technologies by 1.2% during the second quarter. Legal & General Group Plc now owns 25,493 shares of the construction company’s stock worth $776,000 after buying an additional 309 shares during the last quarter. 83.96% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for GCP Applied Technologies (NYSE:GCP)

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