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

Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) have been given an average rating of “Hold” by the six brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $17.00.

GLDD has been the topic of several research reports. CJS Securities reaffirmed a “market perform” rating on shares of Great Lakes Dredge & Dock in a research report on Wednesday, March 11th. Noble Financial downgraded shares of Great Lakes Dredge & Dock from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 12th. JPMorgan Chase & Co. downgraded shares of 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. Wall Street Zen upgraded shares of Great Lakes Dredge & Dock to a “strong-buy” rating in a research note on Saturday, April 4th. Finally, Zacks Research upgraded shares of Great Lakes Dredge & Dock from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD stock opened at $8.63 on Wednesday. The firm has a market cap of $576.32 million, a price-to-earnings ratio of 8.07, a P/E/G ratio of 1.26 and a beta of 1.38. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.88 and a current ratio of 1.01. Great Lakes Dredge & Dock has a 52 week low of $8.80 and a 52 week high of $17.02. The firm’s 50-day simple moving average is $16.83 and its two-hundred day simple moving average is $15.61.

Hedge Funds Weigh In On Great Lakes Dredge & Dock

Several large investors have recently modified their holdings of GLDD. Royal Bank of Canada increased its stake 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 purchasing an additional 3,169 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Great Lakes Dredge & Dock during the first quarter valued at approximately $304,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Great Lakes Dredge & Dock by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,190 shares of the construction company’s stock valued at $341,000 after acquiring an additional 1,653 shares in the last quarter. Empowered Funds LLC purchased a new position in Great Lakes Dredge & Dock during the first quarter valued at approximately $1,726,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Great Lakes Dredge & Dock by 1.2% during 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 valued at $2,147,000 after acquiring an additional 3,042 shares in the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.

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.