Wall Street Analyst Downgrade Great Lakes Dredge & Dock Corporation [GLDD]. What else is Wall St. saying

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Great Lakes Dredge & Dock Corporation [NASDAQ: GLDD] slipped around -0.01 points on Friday, while shares priced at $13.37 at the close of the session, down -0.07%. The company report on June 7, 2022 that Great Lakes Announces Exercise of Option to Build Second 6,500 cubic yard Trailing Suction Hopper Dredge.


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Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (NASDAQ:GLDD), the largest provider of dredging services in the United States announced today the exercise of the contract option to build a second 6,500-cubic-yard-capacity Trailing Suction Hopper Dredge with Conrad Shipyard (“Conrad”) in Amelia, Louisiana. With expected delivery in the first quarter of 2025, the new vessel will be a sister ship to the Galveston Island, presently under construction with delivery in early 2023.

Great Lakes’ hopper dredge fleet including the ATB Tug Douglas B. Mackie and 15,000-cubic-yard-capacity barge Ellis Island and the Galveston, Liberty, Terrapin, Dodge and Padre Islands, comprise the largest hopper fleet in the U.S. dredging industry.

Great Lakes Dredge & Dock Corporation stock is now -14.95% down from its year-to-date (YTD) trading value. GLDD Stock saw the intraday high of $13.57 and lowest of $13.275 per share. The company’s 52-week high price is 16.27, which means current price is +0.98% above from all time high which was touched on 01/04/22.

Compared to the average trading volume of 220.94K shares, GLDD reached a trading volume of 389742 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Great Lakes Dredge & Dock Corporation [GLDD]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GLDD shares is $18.35 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GLDD stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Imperial Capital have made an estimate for Great Lakes Dredge & Dock Corporation shares, keeping their opinion on the stock as In-line, with their previous recommendation back on August 08, 2016. While these analysts kept the previous recommendation, DA Davidson dropped their target price from $5 to $4. The new note on the price target was released on August 05, 2016, representing the official price target for Great Lakes Dredge & Dock Corporation stock. Previously, the target price had yet another drop from $6.50 to $5.50, while Imperial Capital kept a Outperform rating on GLDD stock. On November 04, 2015, analysts decreased their price target for GLDD shares from 8.50 to 6.50.

The Average True Range (ATR) for Great Lakes Dredge & Dock Corporation is set at 0.45, with the Price to Sales ratio for GLDD stock in the period of the last 12 months amounting to 1.19. The Price to Book ratio for the last quarter was 2.12, with the Price to Cash per share for the same quarter was set at 2.16.

How has GLDD stock performed recently?

Great Lakes Dredge & Dock Corporation [GLDD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.21. With this latest performance, GLDD shares dropped by -6.76% in over the last four-week period, additionally sinking by -13.35% over the last 6 months – not to mention a drop of -3.54% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GLDD stock in for the last two-week period is set at 31.02, with the RSI for the last a single of trading hit 23.73, and the three-weeks RSI is set at 36.12 for Great Lakes Dredge & Dock Corporation [GLDD]. The present Moving Average for the last 50 days of trading for this stock 14.33, while it was recorded at 14.04 for the last single week of trading, and 14.72 for the last 200 days.

Great Lakes Dredge & Dock Corporation [GLDD]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Great Lakes Dredge & Dock Corporation [GLDD] shares currently have an operating margin of +12.64 and a Gross Margin at +21.20. Great Lakes Dredge & Dock Corporation’s Net Margin is presently recorded at +6.81.

Return on Equity for this stock inclined to 13.26, with Return on Assets sitting at 4.82.

Great Lakes Dredge & Dock Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.20.

Earnings analysis for Great Lakes Dredge & Dock Corporation [GLDD]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GLDD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Great Lakes Dredge & Dock Corporation go to -13.00%.

Insider trade positions for Great Lakes Dredge & Dock Corporation [GLDD]

There are presently around $807 million, or 93.30% of GLDD stock, in the hands of institutional investors. The top three institutional holders of GLDD stocks are: FRANKLIN RESOURCES INC with ownership of 5,783,695, which is approximately -0.754% of the company’s market cap and around 2.40% of the total institutional ownership; JENNISON ASSOCIATES LLC, holding 5,264,455 shares of the stock with an approximate value of $70.39 million in GLDD stocks shares; and BLACKROCK INC., currently with $68.25 million in GLDD stock with ownership of nearly -0.876% of the company’s market capitalization.

Positions in Great Lakes Dredge & Dock Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 58 institutional holders increased their position in Great Lakes Dredge & Dock Corporation [NASDAQ:GLDD] by around 3,587,010 shares. Additionally, 68 investors decreased positions by around 2,587,022 shares, while 21 investors held positions by with 54,203,728 shares. The mentioned changes placed institutional holdings at 60,377,760 shares, according to the latest SEC report filing. GLDD stock had 16 new institutional investments in for a total of 360,898 shares, while 7 institutional investors sold positions of 524,694 shares during the same period.

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