U.S. markets closed
  • S&P 500

    4,455.48
    +6.50 (+0.15%)
     
  • Dow 30

    34,798.00
    +33.18 (+0.10%)
     
  • Nasdaq

    15,047.70
    -4.54 (-0.03%)
     
  • Russell 2000

    2,248.07
    -10.97 (-0.49%)
     
  • Crude Oil

    73.95
    +0.65 (+0.89%)
     
  • Gold

    1,750.60
    +0.80 (+0.05%)
     
  • Silver

    22.42
    -0.26 (-1.16%)
     
  • EUR/USD

    1.1718
    -0.0029 (-0.25%)
     
  • 10-Yr Bond

    1.4600
    +0.0500 (+3.55%)
     
  • GBP/USD

    1.3681
    -0.0040 (-0.29%)
     
  • USD/JPY

    110.6850
    +0.3840 (+0.35%)
     
  • BTC-USD

    42,288.57
    -330.71 (-0.78%)
     
  • CMC Crypto 200

    1,067.20
    -35.86 (-3.25%)
     
  • FTSE 100

    7,051.48
    -26.87 (-0.38%)
     
  • Nikkei 225

    30,248.81
    +609.41 (+2.06%)
     

W.R. Grace (GRA) Moves 6.4% Higher: Will This Strength Last?

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

W.R. Grace (GRA) shares rallied 6.4% in the last trading session to close at $68.38. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.1% gain over the past four weeks.

GRA’s shares gained after it agreed to be acquired by privately-held Standard Industries Holdings in an all-cash transaction valued at roughly $7 billion. Under the deal terms, Standard Industries Holdings will purchase all of the outstanding shares of W. R. Grace common stock for $70.00 per share in cash. The transaction, which is subject to customary closing conditions, including approval by W. R. Grace shareholders and certain regulatory approvals, is expected to close in the fourth quarter of 2021. After the completion of the deal, W. R. Grace will operate as a standalone company within the portfolio of Standard Industries Holdings.

Price and Consensus

Price Consensus Chart for GRA
Price Consensus Chart for GRA

This chemical and materials manufacturing company is expected to post quarterly earnings of $0.73 per share in its upcoming report, which represents a year-over-year change of +2.8%. Revenues are expected to be $454.55 million, up 7.8% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For W.R. Grace, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GRA going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

W.R. Grace & Co. (GRA) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research