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W. R. Grace & Co (NYSE:GRA) Raised to "Hold" at Zacks Investment Research

Last updated on Wednesday, July 8th, 2020 by MarketBeat

W. R. Grace & Co (NYSE:GRA) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, "W. R. Grace & Co. produces specialty chemicals. They primarily operate through the following two business segments: Davison Chemicals and Performance Chemicals. Davison Chemicals manufactures catalysts (fluid cracking, hydroprocessing and polyolein) and silica and zeolite absorbents. Performance Chemicals produces specialty construction and building materials, along with container and closure sealants. "

Several other brokerages have also recently weighed in on GRA. ValuEngine upgraded shares of W. R. Grace & Co from a "sell" rating to a "hold" rating in a research report on Monday, May 4th. Loop Capital reduced their price target on shares of W. R. Grace & Co from $69.00 to $47.00 and set a "hold" rating on the stock in a research report on Thursday, April 2nd. They noted that the move was a valuation call. Jefferies Financial Group cut shares of W. R. Grace & Co from a "buy" rating to a "hold" rating in a research report on Monday, March 23rd. UBS Group boosted their price target on shares of W. R. Grace & Co from $58.00 to $68.00 and gave the stock a "buy" rating in a research report on Friday, June 19th. Finally, BMO Capital Markets reduced their price target on shares of W. R. Grace & Co from $84.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. The company presently has a consensus rating of "Buy" and an average target price of $65.50.

GRA stock opened at $50.07 on Wednesday. W. R. Grace & Co has a one year low of $26.75 and a one year high of $79.08. The company's fifty day moving average price is $51.99 and its 200-day moving average price is $53.82. The company has a debt-to-equity ratio of 5.09, a quick ratio of 1.00 and a current ratio of 1.49. The company has a market capitalization of $3.41 billion, a PE ratio of 23.29 and a beta of 1.53.

W. R. Grace & Co (NYSE:GRA) last released its earnings results on Thursday, April 30th. The specialty chemicals company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.68 by $0.03. W. R. Grace & Co had a net margin of 7.52% and a return on equity of 68.38%. The firm had revenue of $421.50 million for the quarter, compared to the consensus estimate of $424.77 million. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The company's quarterly revenue was down 10.2% compared to the same quarter last year. On average, research analysts predict that W. R. Grace & Co will post 2.79 EPS for the current fiscal year.

In related news, CEO Force Andrew Hudson La III bought 5,000 shares of the stock in a transaction dated Monday, May 4th. The stock was purchased at an average cost of $46.37 per share, with a total value of $231,850.00. Following the completion of the purchase, the chief executive officer now owns 108,814 shares of the company's stock, valued at $5,045,705.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Elizabeth C. Brown bought 2,000 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average cost of $51.21 per share, with a total value of $102,420.00. Following the completion of the purchase, the vice president now directly owns 20,378 shares of the company's stock, valued at approximately $1,043,557.38. The disclosure for this purchase can be found here. Insiders own 0.90% of the company's stock.

Several institutional investors and hedge funds have recently modified their holdings of GRA. Chevy Chase Trust Holdings Inc. purchased a new stake in shares of W. R. Grace & Co during the fourth quarter valued at $43,000. Partners Capital Investment Group LLP boosted its stake in shares of W. R. Grace & Co by 3.7% during the fourth quarter. Partners Capital Investment Group LLP now owns 100,311 shares of the specialty chemicals company's stock valued at $7,007,000 after purchasing an additional 3,567 shares during the period. Toronto Dominion Bank boosted its stake in shares of W. R. Grace & Co by 75.8% during the fourth quarter. Toronto Dominion Bank now owns 2,900 shares of the specialty chemicals company's stock valued at $202,000 after purchasing an additional 1,250 shares during the period. Amalgamated Bank boosted its stake in shares of W. R. Grace & Co by 5.7% during the fourth quarter. Amalgamated Bank now owns 15,362 shares of the specialty chemicals company's stock valued at $1,073,000 after purchasing an additional 829 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of W. R. Grace & Co by 231.3% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,300 shares of the specialty chemicals company's stock valued at $370,000 after purchasing an additional 3,700 shares during the period. 85.16% of the stock is owned by hedge funds and other institutional investors.

W. R. Grace & Co Company Profile

W. R. Grace & Co produces and sells specialty chemicals and materials worldwide. It operates through two segments, Grace Catalysts Technologies and Grace Materials Technologies. The Grace Catalysts Technologies segment offers fluid catalytic cracking (FCC) catalysts for the production of transportation fuels, such as gasoline and diesel fuels, and petrochemicals; FCC additives; and methanol-to-olefins catalysts for the conversion of methanol into petrochemical feeds, including ethylene and propylene.

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