Zacks Investment Research Downgrades Willdan Group Inc. (WLDN) to Sell
Willdan Group Inc. (NASDAQ:WLDN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “Willdan Group is a provider of professional technical and consulting services to utilities, private industry, and public agencies at all levels of government. Nationwide, they enable their clients to realize cost and energy savings by providing a wide range of specialized services. They assist their clients with a broad range of complementary services relating to: Energy Efficiency and Sustainability; Engineering and Planning; Economic and Financial Consulting; and National Preparedness and Interoperability. They operate their business through a network of offices located primarily in California and New York. They also have operations in Arizona, Colorado, Florida, Illinois, Kansas, Oregon, Texas, Washington and Washington, DC. “
Separately, Wedbush restated an “outperform” rating and set a $15.00 price target (down previously from $17.00) on shares of Willdan Group in a report on Friday, August 5th.
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Shares of Willdan Group (NASDAQ:WLDN) opened at 17.85 on Wednesday. The company has a market capitalization of $148.12 million, a P/E ratio of 27.21 and a beta of 1.16. The company’s 50 day moving average is $17.71 and its 200-day moving average is $12.87. Willdan Group has a 1-year low of $6.95 and a 1-year high of $19.15.
Willdan Group (NASDAQ:WLDN) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.14. Willdan Group had a net margin of 3.44% and a return on equity of 13.55%. The firm earned $58.90 million during the quarter, compared to analyst estimates of $49.55 million. On average, equities research analysts forecast that Willdan Group will post $0.85 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WLDN. Vanguard Group Inc. raised its stake in Willdan Group by 0.8% in the second quarter. Vanguard Group Inc. now owns 235,156 shares of the company’s stock valued at $2,498,000 after buying an additional 1,834 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Willdan Group by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 217,341 shares of the company’s stock valued at $2,308,000 after buying an additional 2,784 shares in the last quarter. Finally, Tocqueville Asset Management L.P. raised its stake in Willdan Group by 82.3% in the second quarter. Tocqueville Asset Management L.P. now owns 206,394 shares of the company’s stock valued at $2,192,000 after buying an additional 93,194 shares in the last quarter. Hedge funds and other institutional investors own 31.95% of the company’s stock.
About Willdan Group
Willdan Group, Inc is a holding company. The Company provides professional technical and consulting services to utilities, private industry and public agencies at all levels of government. It operates through four segments: Energy Efficiency Services, Engineering Services, Public Finance Services and Homeland Security Services.
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