Great Lakes Dredge & Dock (NASDAQ:GLDD) Shares Gap Up to $7.04

Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) gapped up prior to trading on Tuesday . The stock had previously closed at $7.04, but opened at $8.00. Great Lakes Dredge & Dock shares last traded at $9.29, with a volume of 421,079 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Great Lakes Dredge & Dock from a “sell” rating to a “hold” rating in a research report on Thursday, February 15th. TheStreet raised Great Lakes Dredge & Dock from a “d+” rating to a “c-” rating in a research report on Tuesday, February 20th.

Great Lakes Dredge & Dock Stock Down 0.1 %

The firm’s 50-day moving average is $8.17 and its two-hundred day moving average is $7.75. The stock has a market cap of $612.64 million, a P/E ratio of 43.71, a PEG ratio of 1.21 and a beta of 1.00. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.07 and a current ratio of 1.26.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last announced its earnings results on Wednesday, February 14th. The construction company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.09 by $0.16. Great Lakes Dredge & Dock had a net margin of 2.36% and a return on equity of 2.56%. The business had revenue of $181.73 million during the quarter, compared to analysts’ expectations of $190.05 million. On average, equities research analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Group One Trading L.P. bought a new stake in shares of Great Lakes Dredge & Dock during the 3rd quarter valued at about $30,000. Mackenzie Financial Corp purchased a new stake in shares of Great Lakes Dredge & Dock in the third quarter valued at about $83,000. AXQ Capital LP bought a new position in shares of Great Lakes Dredge & Dock in the third quarter valued at approximately $92,000. Quadrature Capital Ltd purchased a new stake in shares of Great Lakes Dredge & Dock during the 4th quarter valued at $113,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Great Lakes Dredge & Dock by 23.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock worth $123,000 after buying an additional 3,011 shares during the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.