GCP Applied Technologies Inc (NYSE:GCP) Short Interest Update

GCP Applied Technologies Inc (NYSE:GCP) was the target of a large drop in short interest in the month of March. As of March 13th, there was short interest totalling 1,452,000 shares, a drop of 39.8% from the February 27th total of 2,410,000 shares. Based on an average trading volume of 289,900 shares, the short-interest ratio is currently 5.0 days. Currently, 2.0% of the company’s shares are sold short.

Shares of NYSE:GCP traded up $2.34 during mid-day trading on Thursday, reaching $18.20. The stock had a trading volume of 292,300 shares, compared to its average volume of 325,405. The firm has a market cap of $1.29 billion, a PE ratio of 28.44 and a beta of 0.96. The firm has a 50 day simple moving average of $20.57 and a two-hundred day simple moving average of $21.37. The company has a current ratio of 3.05, a quick ratio of 2.60 and a debt-to-equity ratio of 0.68. GCP Applied Technologies has a twelve month low of $15.26 and a twelve month high of $30.02.

GCP Applied Technologies (NYSE:GCP) last announced its earnings results on Wednesday, February 26th. The construction company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. The firm had revenue of $258.30 million for the quarter, compared to the consensus estimate of $265.84 million. GCP Applied Technologies had a net margin of 4.57% and a return on equity of 11.50%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. On average, equities analysts anticipate that GCP Applied Technologies will post 0.83 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. NumerixS Investment Technologies Inc acquired a new stake in GCP Applied Technologies during the 4th quarter worth approximately $57,000. Marshall Wace LLP acquired a new stake in GCP Applied Technologies during the 1st quarter worth approximately $88,000. Tower Research Capital LLC TRC acquired a new stake in GCP Applied Technologies during the 3rd quarter worth approximately $104,000. ProShare Advisors LLC acquired a new stake in GCP Applied Technologies during the 4th quarter worth approximately $200,000. Finally, Bank of Montreal Can raised its holdings in GCP Applied Technologies by 29.1% during the 4th quarter. Bank of Montreal Can now owns 8,846 shares of the construction company’s stock worth $201,000 after buying an additional 1,994 shares during the period. Hedge funds and other institutional investors own 73.91% of the company’s stock.

A number of analysts recently weighed in on the stock. Jefferies Financial Group downgraded shares of GCP Applied Technologies from a “buy” rating to a “hold” rating and cut their price target for the company from $28.00 to $19.00 in a research report on Monday. ValuEngine upgraded shares of GCP Applied Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, March 17th. Finally, Zacks Investment Research downgraded shares of GCP Applied Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, March 4th.

GCP Applied Technologies Company Profile

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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