Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Receives Average Recommendation of "Hold" from Brokerages

Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Get Free Report) have earned an average recommendation of "Hold" from the six research firms that are currently covering the stock, Marketbeat.com reports. One investment 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 1-year target price among analysts that have issued ratings on the stock in the last year is $17.00.

A number of research analysts recently commented on GLDD shares. Texas Capital downgraded Great Lakes Dredge & Dock from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 11th. CJS Securities restated a "market perform" rating on shares of Great Lakes Dredge & Dock in a research note on Wednesday, March 11th. Zacks Research raised Great Lakes Dredge & Dock from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 4th. Wall Street Zen raised Great Lakes Dredge & Dock to a "strong-buy" rating in a research note on Saturday, April 4th. Finally, JPMorgan Chase & Co. cut Great Lakes Dredge & Dock from a "neutral" rating to an "underweight" rating and set a $17.00 price target for the company. in a research note on Thursday, March 26th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GLDD. Financial Management Professionals Inc. bought a new position in shares of Great Lakes Dredge & Dock in the fourth quarter worth $25,000. MAI Capital Management grew its stake in shares of Great Lakes Dredge & Dock by 79.2% in 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 grew its stake in shares of Great Lakes Dredge & Dock by 231.4% in 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. Parallel Advisors LLC grew its stake in shares of Great Lakes Dredge & Dock by 39.0% in the first quarter. Parallel Advisors LLC now owns 2,304 shares of the construction company's stock worth $39,000 after purchasing an additional 647 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Great Lakes Dredge & Dock in the first quarter worth $45,000. Institutional investors own 89.11% of the company's stock.

Great Lakes Dredge & Dock Price Performance

Shares of GLDD opened at $17.00 on Friday. The company has a market cap of $1.14 billion, a P/E ratio of 15.89, a PEG ratio of 1.26 and a beta of 1.38. The stock has a fifty day moving average price of $16.97 and a 200 day moving average price of $14.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 0.88. Great Lakes Dredge & Dock has a 12 month low of $8.80 and a 12 month high of $17.02.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last issued its quarterly earnings data on Monday, February 23rd. The construction company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.10. The firm had revenue of $256.45 million during the quarter, compared to the consensus estimate 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, research analysts forecast that Great Lakes Dredge & Dock will post 0.69 earnings per share for the current year.

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.

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