Great Lakes Dredge & Dock (NASDAQ:GLDD) Raised to “Strong-Buy” at Wall Street Zen
by Doug Wharley · The Cerbat GemGreat Lakes Dredge & Dock (NASDAQ:GLDD – Get Free Report) was upgraded by stock analysts at Wall Street Zen to a “strong-buy” rating in a note issued to investors on Saturday.
Several other research analysts have also issued reports on GLDD. Texas Capital lowered shares of Great Lakes Dredge & Dock from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 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. Weiss Ratings upgraded Great Lakes Dredge & Dock from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, January 21st. CJS Securities reiterated a “market perform” rating on shares of Great Lakes Dredge & Dock in a research report on Wednesday, March 11th. Finally, JPMorgan Chase & Co. cut Great Lakes Dredge & Dock from a “neutral” rating to an “underweight” rating and set a $17.00 price objective on the stock. in a report on Thursday, March 26th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Great Lakes Dredge & Dock currently has an average rating of “Hold” and an average target price of $17.00.
View Our Latest Stock Report on GLDD
Great Lakes Dredge & Dock Stock Performance
Shares of Great Lakes Dredge & Dock stock opened at $17.00 on Friday. Great Lakes Dredge & Dock has a 1 year low of $7.51 and a 1 year high of $17.02. The firm has a market cap of $1.14 billion, a PE ratio of 15.89, a PEG ratio of 1.26 and a beta of 1.38. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.01 and a quick ratio of 0.88. The company has a 50 day simple moving average of $16.55 and a two-hundred day simple moving average of $14.02.
Great Lakes Dredge & Dock (NASDAQ:GLDD – Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $216.30 million. Great Lakes Dredge & Dock had a net margin of 8.27% and a return on equity of 16.46%. Analysts expect that Great Lakes Dredge & Dock will post 0.69 earnings per share for the current fiscal year.
Institutional Trading of Great Lakes Dredge & Dock
Several hedge funds have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. purchased a new stake in Great Lakes Dredge & Dock during the fourth quarter valued at about $25,000. MAI Capital Management increased its holdings 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 buying an additional 955 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of 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 acquiring an additional 1,474 shares during the last quarter. Strs Ohio bought a new stake in shares of Great Lakes Dredge & Dock in the 1st quarter valued at about $45,000. Finally, State of Alaska Department of Revenue purchased a new stake in Great Lakes Dredge & Dock during the 3rd quarter valued at about $46,000. 89.11% of the stock is owned by institutional investors.
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.