Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) Given $6.50 Average Price Target by Brokerages

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) has received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a one year consensus price target of $6.50 for the company, according to Zacks. Zacks has also assigned Great Lakes Dredge & Dock Corporation an industry rank of 173 out of 265 based on the ratings given to related companies.

GLDD has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued a “buy” rating and set a $6.50 price target on shares of Great Lakes Dredge & Dock Corporation in a research note on Tuesday, July 11th. ValuEngine downgraded Great Lakes Dredge & Dock Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th.

In other news, Director Robert B. Uhler acquired 10,000 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was bought at an average cost of $4.55 per share, with a total value of $45,500.00. Following the transaction, the director now directly owns 92,311 shares in the company, valued at approximately $420,015.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.24% of the company’s stock.

Several institutional investors have recently modified their holdings of GLDD. California Public Employees Retirement System boosted its position in shares of Great Lakes Dredge & Dock Corporation by 0.4% in the first quarter. California Public Employees Retirement System now owns 305,100 shares of the construction company’s stock worth $1,220,000 after buying an additional 1,300 shares in the last quarter. OppenheimerFunds Inc. boosted its position in shares of Great Lakes Dredge & Dock Corporation by 4.8% in the first quarter. OppenheimerFunds Inc. now owns 39,677 shares of the construction company’s stock worth $159,000 after buying an additional 1,807 shares in the last quarter. American International Group Inc. boosted its position in shares of Great Lakes Dredge & Dock Corporation by 7.1% in the first quarter. American International Group Inc. now owns 36,391 shares of the construction company’s stock worth $146,000 after buying an additional 2,414 shares in the last quarter. Menta Capital LLC boosted its position in shares of Great Lakes Dredge & Dock Corporation by 28.7% in the first quarter. Menta Capital LLC now owns 38,266 shares of the construction company’s stock worth $153,000 after buying an additional 8,522 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Great Lakes Dredge & Dock Corporation by 6.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 219,902 shares of the construction company’s stock worth $880,000 after buying an additional 12,654 shares in the last quarter. 71.91% of the stock is currently owned by institutional investors and hedge funds.

Great Lakes Dredge & Dock Corporation (GLDD) traded down 1.724% during trading on Monday, hitting $4.275. The stock had a trading volume of 16,453 shares. Great Lakes Dredge & Dock Corporation has a 12-month low of $3.05 and a 12-month high of $5.45. The firm’s market cap is $261.94 million. The stock’s 50 day moving average price is $4.25 and its 200 day moving average price is $4.48.

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) last issued its quarterly earnings results on Wednesday, May 3rd. The construction company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.02. Great Lakes Dredge & Dock Corporation had a negative return on equity of 0.23% and a negative net margin of 2.70%. The business had revenue of $170.59 million for the quarter, compared to analysts’ expectations of $170.10 million. During the same period in the prior year, the company earned ($0.07) EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, analysts anticipate that Great Lakes Dredge & Dock Corporation will post $0.05 EPS for the current fiscal year.

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Great Lakes Dredge & Dock Corporation Company Profile

Great Lakes Dredge & Dock Corporation is a provider of dredging services. The Company provides dredging services in the East, West and Gulf Coasts of the United States and around the world. It operates in two segments: Dredging Operations, which involves enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock, and Environmental & Remediation Operations, which provides construction services on soil, water and sediment for clients in both the public and private sectors.

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