Exponent’s (NASDAQ:EXPO) Buy Rating Reiterated at Cantor Fitzgerald
Exponent, Inc. (NASDAQ:EXPO)‘s stock had its “buy” rating reiterated by stock analysts at Cantor Fitzgerald in a report released on Wednesday. They presently have a $75.00 price objective on the business services provider’s stock, up from their previous price objective of $69.00. Cantor Fitzgerald’s target price suggests a potential upside of 14.94% from the stock’s current price.
The analysts wrote, “Foresi’s Take. Exponent posted strong revenue growth in the mid-double digits as recent headwinds have begun to subside and the company saw strength in multiple business lines. Lingering headwinds in a couple of areas were more than offset by strong quarters in biomedical, construction consulting, electrical engineering and polymer science practices, and work at a large human factors assessment project for a client in the consumer products industry. The automotive business still faced some challenges, but returned to growth, driven by work on new transportation technologies.””
A number of other research firms have also issued reports on EXPO. BidaskClub lowered Exponent from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Zacks Investment Research lowered Exponent from a “buy” rating to a “hold” rating in a report on Wednesday, April 19th.
Shares of Exponent (EXPO) traded down 1.14% during trading on Wednesday, reaching $65.25. The company had a trading volume of 129,671 shares. Exponent has a 12 month low of $48.42 and a 12 month high of $68.30. The stock’s 50-day moving average price is $59.23 and its 200-day moving average price is $59.06. The stock has a market capitalization of $1.72 billion, a PE ratio of 33.83 and a beta of 0.60.
Exponent (NASDAQ:EXPO) last released its earnings results on Tuesday, July 18th. The business services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.10. The firm had revenue of $84.10 million during the quarter, compared to the consensus estimate of $79.30 million. Exponent had a return on equity of 16.52% and a net margin of 15.94%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share. Equities analysts forecast that Exponent will post $1.90 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in Exponent during the first quarter worth $123,000. Ameritas Investment Partners Inc. acquired a new position in Exponent during the first quarter valued at approximately $132,000. Victory Capital Management Inc. increased its position 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 buying an additional 226 shares during the last quarter. State of Alaska Department of Revenue increased its position in Exponent by 0.7% in the first quarter. State of Alaska Department of Revenue now owns 2,830 shares of the business services provider’s stock valued at $168,000 after buying an additional 20 shares during the last quarter. Finally, Bank of Montreal Can increased its position 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 buying an additional 22 shares during the last quarter. 90.22% of the stock is currently owned by institutional investors and hedge funds.
Exponent Company Profile
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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