Exponent (NASDAQ:EXPO) Raised to “Buy” at Zacks Investment Research

Exponent (NASDAQ:EXPO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage currently has a $128.00 target price on the business services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.04% from the stock’s previous close.

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 equities research analysts also recently weighed in on EXPO. Truist Securities raised their price objective on Exponent from $100.00 to $118.00 and gave the company a “buy” rating in a report on Monday, August 2nd. Truist raised their price objective on Exponent from $100.00 to $118.00 and gave the company a “buy” rating in a report on Monday, August 2nd.

Shares of EXPO traded down $0.09 during midday trading on Tuesday, hitting $114.24. The company’s stock had a trading volume of 94,110 shares, compared to its average volume of 194,590. Exponent has a one year low of $68.42 and a one year high of $118.68. The company’s fifty day simple moving average is $109.64 and its two-hundred day simple moving average is $99.42. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 63.12 and a beta of 0.36.

Exponent (NASDAQ:EXPO) last issued its quarterly earnings results on Thursday, July 29th. The business services provider reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.06. Exponent had a return on equity of 26.17% and a net margin of 21.94%. The company had revenue of $112.47 million for the quarter, compared to analyst estimates of $106.11 million. As a group, equities analysts forecast that Exponent will post 1.78 EPS for the current year.

In related news, VP Steven J. Murray sold 6,828 shares of the business’s stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $108.03, for a total value of $737,628.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul R. Johnston sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 4th. The shares were sold at an average price of $109.14, for a total value of $654,840.00. The disclosure for this sale can be found here. Insiders sold a total of 56,583 shares of company stock worth $6,406,594 over the last three months. 1.80% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in Exponent by 0.7% in the 1st quarter. BlackRock Inc. now owns 8,062,652 shares of the business services provider’s stock valued at $785,707,000 after buying an additional 55,662 shares in the last quarter. Vanguard Group Inc. increased its holdings in Exponent by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,620,159 shares of the business services provider’s stock worth $501,374,000 after purchasing an additional 52,180 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in Exponent by 0.3% during the 1st quarter. Neuberger Berman Group LLC now owns 3,345,471 shares of the business services provider’s stock worth $324,590,000 after purchasing an additional 9,144 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Exponent by 11.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,274,581 shares of the business services provider’s stock worth $202,916,000 after purchasing an additional 238,471 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Exponent by 8.7% during the 1st quarter. Ameriprise Financial Inc. now owns 1,634,646 shares of the business services provider’s stock worth $159,285,000 after purchasing an additional 130,919 shares in the last quarter. 89.50% of the stock is owned by institutional investors and hedge funds.

Exponent Company Profile

Exponent, Inc is an engineering and scientific consulting company, which engages in the provision of engineering, scientific, environmental, and health consulting services. It operates through the following segments: Engineering and Other Scientific and Environmental and Health. The Engineering and Other Scientific segment include technical consulting in different practices primarily in engineering.

See Also: The limitations of an equal weight rating

Get a free copy of the Zacks research report on Exponent (EXPO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Exponent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exponent and related companies with MarketBeat.com's FREE daily email newsletter.