Great Lakes Dredge & Dock (NASDAQ:GLDD) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Great Lakes Dredge & Dock Corporation's stock (NASDAQ: GLDD) recently crossed above its 200-day moving average of $10.92, reaching a trading high of $11.95.
• The company received mixed analyst ratings, with Zacks Research upgrading it to a "strong-buy" rating while Weiss Ratings maintained a "hold" rating.
• Great Lakes Dredge & Dock reported an earnings per share (EPS) of $0.14 for the last quarter, exceeding analysts' expectations of $0.08 and demonstrating a strong revenue performance of $193.76 million.

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.92 and traded as high as $11.95. Great Lakes Dredge & Dock shares last traded at $11.88, with a volume of 218,140 shares trading hands.

Analyst Ratings Changes

GLDD has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Great Lakes Dredge & Dock in a report on Wednesday. Zacks Research upgraded Great Lakes Dredge & Dock to a "strong-buy" rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy".

Great Lakes Dredge & Dock Price Performance

The business has a 50 day moving average of $11.72 and a 200 day moving average of $10.92. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.15 and a quick ratio of 1.02. The company has a market cap of $807.78 million, a PE ratio of 11.31, a price-to-earnings-growth ratio of 0.96 and a beta of 1.37.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last released its earnings results on Tuesday, August 5th. The construction company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.06. Great Lakes Dredge & Dock had a return on equity of 15.61% and a net margin of 8.63%.The firm had revenue of $193.76 million for the quarter, compared to analysts' expectations of $177.70 million. As a group, research analysts predict that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current year.

Institutional Trading of Great Lakes Dredge & Dock

A number of large investors have recently added to or reduced their stakes in the company. Jennison Associates LLC increased its position in shares of Great Lakes Dredge & Dock by 22.7% during the 1st quarter. Jennison Associates LLC now owns 5,310,894 shares of the construction company's stock valued at $46,205,000 after purchasing an additional 981,652 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Great Lakes Dredge & Dock by 680.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 841,140 shares of the construction company's stock worth $10,253,000 after buying an additional 733,312 shares during the period. CenterBook Partners LP lifted its holdings in shares of Great Lakes Dredge & Dock by 169.2% in the 1st quarter. CenterBook Partners LP now owns 1,121,974 shares of the construction company's stock worth $9,761,000 after buying an additional 705,159 shares during the period. Nuveen LLC purchased a new stake in shares of Great Lakes Dredge & Dock in the 1st quarter worth $3,960,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Great Lakes Dredge & Dock by 404.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 492,191 shares of the construction company's stock worth $6,000,000 after buying an additional 394,543 shares during the period. Institutional investors own 89.11% of the company's stock.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.

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