Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Receives $20.00 Consensus Target Price from Analysts

Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) have been assigned a consensus rating of “Buy” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $20.00.

A number of research firms have recently commented on GLDD. JPMorgan Chase & Co. began coverage on Great Lakes Dredge & Dock in a research report on Thursday, January 22nd. They set an “overweight” rating and a $20.00 target price on the stock. Noble Financial reissued an “outperform” rating on shares of Great Lakes Dredge & Dock in a research note on Thursday. Wall Street Zen downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Saturday, January 24th. CJS Securities upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Weiss Ratings raised Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, January 21st.

Great Lakes Dredge & Dock Trading Down 1.9%

Shares of NASDAQ:GLDD opened at $14.98 on Thursday. Great Lakes Dredge & Dock has a 52 week low of $7.51 and a 52 week high of $16.72. The company’s 50 day moving average is $13.71 and its two-hundred day moving average is $12.37. The company has a market cap of $1.02 billion, a PE ratio of 12.70, a P/E/G ratio of 1.11 and a beta of 1.40. The company has a current ratio of 1.20, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.09. The business had revenue of $195.21 million during the quarter, compared to analysts’ expectations of $201.30 million. Great Lakes Dredge & Dock had a net margin of 9.65% and a return on equity of 16.84%. Equities analysts predict that Great Lakes Dredge & Dock will post 0.69 earnings per share for the current fiscal year.

Insider Activity at Great Lakes Dredge & Dock

In other news, SVP David Johanson sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $13.96, for a total transaction of $29,316.00. Following the completion of the transaction, the senior vice president directly owned 91,963 shares of the company’s stock, valued at $1,283,803.48. This trade represents a 2.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

Several hedge funds have recently bought and sold shares of the stock. Financial Management Professionals Inc. purchased a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter valued at $25,000. MAI Capital Management increased its position in Great Lakes Dredge & Dock by 79.2% during the 3rd 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 raised its stake in Great Lakes Dredge & Dock by 231.4% in the 4th quarter. Farther Finance Advisors LLC now owns 2,111 shares of the construction company’s stock valued at $28,000 after purchasing an additional 1,474 shares during the last quarter. Strs Ohio purchased a new position in Great Lakes Dredge & Dock in the 1st quarter valued at about $45,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Great Lakes Dredge & Dock during the 3rd quarter worth about $46,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.

Great Lakes Dredge & Dock Company Profile

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.