Exponent, Inc. (EXPO) Downgraded by Zacks Investment Research
Exponent, Inc. (NASDAQ:EXPO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday.
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. “
Several other brokerages also recently commented on EXPO. Cantor Fitzgerald reiterated a “buy” rating and set a $75.00 target price on shares of Exponent in a research note on Thursday, August 31st. ValuEngine upgraded Exponent from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, BidaskClub downgraded Exponent from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th.
Exponent (NASDAQ EXPO) traded up 0.56% during midday trading on Tuesday, hitting $72.30. The stock had a trading volume of 112,972 shares. Exponent has a 1-year low of $48.42 and a 1-year high of $72.60. The firm has a 50-day moving average price of $67.02 and a 200-day moving average price of $61.69. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 37.48 and a beta of 0.62.
Exponent (NASDAQ:EXPO) last issued its earnings results on Tuesday, July 18th. The business services provider reported $0.51 EPS for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $79.30 million. During the same period in the previous year, the company posted $0.38 EPS. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities research analysts anticipate that Exponent will post $1.97 earnings per share for the current year.
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In related news, insider John Pye sold 3,600 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $65.08, for a total value of $234,288.00. Following the completion of the sale, the insider now directly owns 14,767 shares in the company, valued at approximately $961,036.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sally Shepard sold 1,255 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $65.37, for a total value of $82,039.35. Following the completion of the sale, the insider now owns 1,560 shares of the company’s stock, valued at $101,977.20. 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 90 days. 2.80% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new stake in Exponent in the 2nd quarter valued at $385,000. Public Employees Retirement System of Ohio boosted its stake in Exponent by 0.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 63,306 shares of the business services provider’s stock valued at $3,691,000 after purchasing an additional 256 shares during the period. Piedmont Investment Advisors LLC bought a new stake in Exponent in the 2nd quarter valued at $2,770,000. Susquehanna International Group LLP bought a new stake in Exponent in the 2nd quarter valued at $387,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Exponent by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,448 shares of the business services provider’s stock valued at $1,192,000 after purchasing an additional 434 shares during the period. Institutional investors and hedge funds own 88.26% of the company’s stock.
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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