Exponent, Inc. (NASDAQ:EXPO) Short Interest Down 33.5% in May

Exponent, Inc. (NASDAQ:EXPO) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 2,048,221 shares, a drop of 33.5% from the May 14th total of 3,081,228 shares. Based on an average daily volume of 553,097 shares, the days-to-cover ratio is currently 3.7 days. Currently, 4.3% of the company’s shares are sold short.

Exponent Price Performance

Shares of Exponent stock opened at $57.01 on Thursday. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 26.52 and a beta of 0.72. Exponent has a 52-week low of $51.91 and a 52-week high of $81.95. The stock has a 50-day simple moving average of $61.39 and a 200-day simple moving average of $67.75.

Exponent (NASDAQ:EXPO) last announced its quarterly earnings results on Thursday, April 30th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The business had revenue of $166.30 million during the quarter, compared to analyst estimates of $149.53 million. Exponent had a return on equity of 27.94% and a net margin of 18.07%.The firm’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 EPS. As a group, equities research analysts predict that Exponent will post 2.28 earnings per share for the current year.

Exponent Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, June 5th. Exponent’s payout ratio is currently 57.67%.

Analysts Set New Price Targets

A number of equities research analysts have commented on EXPO shares. Weiss Ratings restated a “hold (c-)” rating on shares of Exponent in a research report on Tuesday, April 21st. UBS Group restated a “neutral” rating and set a $75.00 price objective on shares of Exponent in a research report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on Exponent from $95.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.50.

Insider Buying and Selling

In other Exponent news, VP Bradley A. James sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $57.47, for a total transaction of $114,940.00. Following the completion of the sale, the vice president directly owned 1,105 shares in the company, valued at approximately $63,504.35. This trade represents a 64.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Joseph Rakow sold 2,945 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $54.66, for a total value of $160,973.70. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 19,233 shares of company stock worth $1,119,659. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Exponent

Several institutional investors have recently made changes to their positions in the company. Inspire Investing LLC lifted its holdings in shares of Exponent by 2.6% during the 4th quarter. Inspire Investing LLC now owns 6,709 shares of the business services provider’s stock valued at $466,000 after buying an additional 172 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Exponent by 50.4% in the 4th quarter. GAMMA Investing LLC now owns 576 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 193 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Exponent by 37.1% in the 1st quarter. Bessemer Group Inc. now owns 717 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 194 shares in the last quarter. Strs Ohio raised its stake in shares of Exponent by 11.1% in the 4th quarter. Strs Ohio now owns 2,000 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 200 shares in the last quarter. Finally, State of Michigan Retirement System raised its stake in shares of Exponent by 1.7% in the 1st quarter. State of Michigan Retirement System now owns 12,000 shares of the business services provider’s stock valued at $783,000 after acquiring an additional 200 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

About Exponent

Exponent, Inc (NASDAQ: EXPO) is an engineering and scientific consulting firm that offers multidisciplinary analysis and advisory services to clients across a range of industries. The company’s expertise spans mechanical, materials and corrosion engineering, civil and structural engineering, electrical engineering, industrial hygiene, toxicology and health sciences, and failure analysis. Exponent provides support for product design, performance evaluation, litigation consulting, and regulatory compliance, helping manufacturers, insurers, law firms and government agencies address complex technical challenges.

Founded in 1967 in Menlo Park, California, Exponent has grown from a small failure-analysis laboratory into a global consulting practice.