Brokerages Set Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Price Target at $17.00

Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) have been assigned an average recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $17.00.

Several equities analysts have recently commented on the company. CJS Securities restated a “market perform” rating on shares of Great Lakes Dredge & Dock in a research report on Wednesday, March 11th. Noble Financial downgraded Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research 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 target price on the stock. in a research report on Thursday, March 26th. Weiss Ratings upgraded 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.

Institutional Investors Weigh In On Great Lakes Dredge & Dock

A number of hedge funds have recently made changes to their positions in GLDD. Royal Bank of Canada lifted its position in shares of Great Lakes Dredge & Dock by 9.9% in the first quarter. Royal Bank of Canada now owns 35,035 shares of the construction company’s stock worth $305,000 after buying an additional 3,169 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Great Lakes Dredge & Dock in the first quarter worth about $304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Great Lakes Dredge & Dock by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,190 shares of the construction company’s stock worth $341,000 after buying an additional 1,653 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Great Lakes Dredge & Dock in the first quarter worth about $1,726,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Great Lakes Dredge & Dock by 1.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 246,766 shares of the construction company’s stock worth $2,147,000 after buying an additional 3,042 shares in the last quarter. 89.11% of the stock is currently owned by hedge funds and other institutional investors.

Great Lakes Dredge & Dock Price Performance

Shares of Great Lakes Dredge & Dock stock opened at $17.00 on Friday. The stock’s 50-day simple moving average is $16.98 and its 200-day simple moving average is $15.06. Great Lakes Dredge & Dock has a 52 week low of $8.80 and a 52 week high of $17.02. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.26 and a beta of 1.38. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.73.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its quarterly earnings data on Monday, February 23rd. The construction company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.20 by $0.10. Great Lakes Dredge & Dock had a return on equity of 16.46% and a net margin of 8.27%.The business had revenue of $256.45 million for the quarter, compared to the consensus estimate of $216.30 million. As a group, analysts expect that Great Lakes Dredge & Dock will post 0.69 earnings per share for the current fiscal year.

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.