Noble Financial Believes Great Lakes Dredge & Dock (GLDD) Won’t Stop Here
Noble Financial analyst Poe Fratt maintained a Buy rating on Great Lakes Dredge & Dock (GLDD) today and set a price target of $17.05. The company’s shares closed last Wednesday at $14.78, close to its 52-week high of $16.12.
According to TipRanks.com, Fratt is a 5-star analyst with an average return of 41.1% and a 57.6% success rate. Fratt covers the Industrial Goods sector, focusing on stocks such as Grindrod Shipping Holdings, Energy Services of America, and Orion Group Holdings.
Great Lakes Dredge & Dock has an analyst consensus of Moderate Buy, with a price target consensus of $17.05.
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Based on Great Lakes Dredge & Dock’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $172 million and net profit of $10.61 million. In comparison, last year the company earned revenue of $164 million and had a net profit of $15.97 million.
Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GLDD in relation to earlier this year.
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Great Lakes Dredge & Dock Corp. provides dredging services. It operates through the following segments: Dredging and Environmental and Infrastructure. The Dredging segment engages in the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. The environmental and infrastructure segment provides construction services on soil, water and sediment for clients in both the public and private sectors. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Oak Brook, IL.