Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Given Average Rating of “Hold” by Brokerages

Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) have been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $17.00.

A number of analysts have weighed in on the company. Wall Street Zen upgraded Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Saturday, April 4th. Noble Financial lowered Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. downgraded Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 price target on the stock. in a research report on Thursday, March 26th. Weiss Ratings raised Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, January 21st. Finally, Texas Capital downgraded Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th.

Great Lakes Dredge & Dock Price Performance

Great Lakes Dredge & Dock stock opened at $17.00 on Tuesday. The business has a fifty day moving average of $16.94 and a two-hundred day moving average of $14.41. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.73. The firm has a market cap of $1.14 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.26 and a beta of 1.38. Great Lakes Dredge & Dock has a twelve month low of $7.51 and a twelve month high of $17.02.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last posted its earnings results on Monday, February 23rd. The construction company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.10. The company had revenue of $256.45 million during the quarter, compared to analyst estimates of $216.30 million. Great Lakes Dredge & Dock had a return on equity of 16.46% and a net margin of 8.27%. On average, analysts forecast that Great Lakes Dredge & Dock will post 0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

A number of large investors have recently made changes to their positions in GLDD. Financial Management Professionals Inc. acquired a new position in shares of Great Lakes Dredge & Dock during the fourth quarter worth $25,000. MAI Capital Management increased its position in shares of Great Lakes Dredge & Dock by 79.2% during the third quarter. MAI Capital Management now owns 2,161 shares of the construction company’s stock worth $26,000 after purchasing an additional 955 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Great Lakes Dredge & Dock by 231.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock worth $28,000 after purchasing an additional 1,474 shares in the last quarter. Strs Ohio acquired a new position in shares of Great Lakes Dredge & Dock during the first quarter worth $45,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Great Lakes Dredge & Dock during the third quarter worth $46,000. 89.11% of the stock is owned by institutional investors and hedge funds.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) is a leading provider of dredging and maritime construction services in the United States. The company specializes in the excavation and removal of sediment from waterways, harbors, ports and coastal areas to maintain navigability and support commercial shipping. Its operations encompass both maintenance dredging—removing accumulated material to restore channel depth—and new work projects such as land reclamation and harbor deepening.

In addition to traditional dredging, Great Lakes Dredge & Dock offers a range of complementary marine construction services.