Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Receives $17.00 Average Price Target from Analysts

Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) have received an average recommendation of “Hold” from the six research firms that are covering the firm, MarketBeat Ratings 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 brokers that have covered the stock in the last year is $17.00.

A number of equities analysts recently commented on the company. CJS Securities reiterated a “market perform” rating on shares of Great Lakes Dredge & Dock in a report on Wednesday, March 11th. Wall Street Zen raised Great Lakes Dredge & Dock to a “strong-buy” rating in a research report on Saturday, April 4th. Finally, JPMorgan Chase & Co. downgraded Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 target price for the company. in a research note on Thursday, March 26th.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of Great Lakes Dredge & Dock by 12.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 888,739 shares of the construction company’s stock worth $10,656,000 after buying an additional 99,463 shares during the last quarter. American Century Companies Inc. lifted its holdings in Great Lakes Dredge & Dock by 10.6% during the 3rd quarter. American Century Companies Inc. now owns 2,412,467 shares of the construction company’s stock worth $28,925,000 after purchasing an additional 231,558 shares during the last quarter. Nwam LLC acquired a new position in shares of Great Lakes Dredge & Dock in the fourth quarter valued at about $2,853,000. Simcoe Capital LLC bought a new position in shares of Great Lakes Dredge & Dock during the fourth quarter worth approximately $4,955,000. Finally, Vanguard Group Inc. raised its holdings in Great Lakes Dredge & Dock by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 3,987,334 shares of the construction company’s stock valued at $52,314,000 after acquiring an additional 108,033 shares in the last quarter. 89.11% of the stock is owned by institutional investors.

Great Lakes Dredge & Dock Price Performance

NASDAQ:GLDD opened at $17.00 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.88 and a current ratio of 1.01. The stock’s 50-day simple moving average is $15.47 and its 200 day simple moving average is $15.64. The company 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 52-week low of $8.80 and a 52-week high of $17.02.

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.