Great Lakes Dredge & Dock (GLDD) Gets a Buy Rating from Noble Financial

In a report released today, Poe Fratt from Noble Financial maintained a Buy rating on Great Lakes Dredge & Dock (GLDDResearch Report), with a price target of $17.05. The company’s shares closed last Monday at $14.25, close to its 52-week high of $14.84.

According to TipRanks.com, Fratt is a 5-star analyst with an average return of 21.7% and a 55.5% success rate. Fratt covers the Industrial Goods sector, focusing on stocks such as Energy Services of America, Orion Group Holdings, and Eagle Bulk Shipping.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Great Lakes Dredge & Dock with a $17.05 average price target.

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Great Lakes Dredge & Dock’s market cap is currently $925.8M and has a P/E ratio of 13.00. The company has a Price to Book ratio of 3.62.

Based on the recent corporate insider activity of 57 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.