Exponent, Inc. (EXPO) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Exponent, Inc. (NASDAQ:EXPO) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning.
According to Zacks, “Exponent, Inc., is a multidisciplinary organization of scientists, physicians, engineers and business consultants performing in-depth scientific research and analysis in over 90 technical disciplines. The company is an engineering and scientific consulting firm providing solutions to complex problems. The firm has been best known for analyzing accidents and failures to determine their causes, but in recent years it has become more active in assisting clients with human health, environmental and engineering issues associated with new products to help prevent problems in the future. The Company serves clients in the automotive, aviation, chemical, construction, consumer products, energy, government, health, insurance, manufacturing, technology and other sectors. “
A number of other research analysts have also recently commented on the company. Cantor Fitzgerald reiterated a buy rating and issued a $75.00 price target (up from $69.00) on shares of Exponent in a research note on Wednesday, July 19th. BidaskClub cut Exponent from a sell rating to a strong sell rating in a research note on Tuesday, June 27th. Finally, ValuEngine upgraded Exponent from a sell rating to a hold rating in a research note on Thursday, July 20th.
Exponent (NASDAQ EXPO) traded up 1.04% during midday trading on Tuesday, hitting $72.95. The stock had a trading volume of 8,552 shares. The company has a 50-day moving average of $67.02 and a 200-day moving average of $61.69. Exponent has a 1-year low of $48.42 and a 1-year high of $73.10. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 37.82 and a beta of 0.62.
Exponent (NASDAQ:EXPO) last announced its quarterly earnings results on Tuesday, July 18th. The business services provider reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.10. Exponent had a return on equity of 16.52% and a net margin of 15.94%. The company had revenue of $84.10 million during the quarter, compared to analysts’ expectations of $79.30 million. During the same period in the prior year, the company earned $0.38 EPS. Exponent’s revenue was up 14.7% compared to the same quarter last year. Equities research analysts forecast that Exponent will post $1.97 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Wednesday, August 30th. Exponent’s payout ratio is 43.52%.
In other news, insider Sally Shepard sold 1,255 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $65.37, for a total value of $82,039.35. Following the completion of the transaction, the insider now directly owns 1,560 shares in the company, valued at approximately $101,977.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul R. Johnston sold 3,696 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $70.86, for a total value of $261,898.56. Following the completion of the transaction, the chief executive officer now owns 42,394 shares of the company’s stock, valued at $3,004,038.84. The disclosure for this sale can be found here. Insiders sold a total of 70,796 shares of company stock valued at $4,690,635 over the last quarter. 2.80% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Riverhead Capital Management LLC increased its holdings in Exponent by 89.7% in the second quarter. Riverhead Capital Management LLC now owns 1,897 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 897 shares during the period. Advisor Group Inc. increased its holdings in Exponent by 15.4% in the second quarter. Advisor Group Inc. now owns 2,131 shares of the business services provider’s stock valued at $124,000 after purchasing an additional 284 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Exponent in the first quarter valued at $132,000. Victory Capital Management Inc. increased its holdings in Exponent by 9.2% in the first quarter. Victory Capital Management Inc. now owns 2,683 shares of the business services provider’s stock valued at $160,000 after purchasing an additional 226 shares during the period. Finally, Bank of Montreal Can increased its holdings in Exponent by 0.7% in the second quarter. Bank of Montreal Can now owns 3,231 shares of the business services provider’s stock valued at $189,000 after purchasing an additional 22 shares during the period. Institutional investors and hedge funds own 88.26% of the company’s stock.
Exponent, Inc (Exponent), along with its subsidiaries, is a science and engineering consulting company. Exponent provides engineering and scientific consulting services to clients around the world. Its service offerings are provided on a project-by-project basis. It operates in two segments: Engineering and Other Scientific, and Environmental and Health.
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