Exponent (EXPO) Downgraded by BidaskClub to “Buy”

Exponent (NASDAQ:EXPO) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday, September 20th.

Several other research firms also recently issued reports on EXPO. ValuEngine downgraded Exponent from a “buy” rating to a “hold” rating in a report on Monday, June 11th. Zacks Investment Research upgraded Exponent from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. SunTrust Banks boosted their price objective on Exponent to $56.00 and gave the company a “buy” rating in a report on Friday, July 20th. Finally, Berenberg Bank initiated coverage on Exponent in a report on Wednesday, September 12th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $34.67.

Shares of NASDAQ:EXPO traded up $0.24 during trading on Thursday, reaching $48.06. The stock had a trading volume of 186,972 shares, compared to its average volume of 194,254. Exponent has a 1-year low of $34.80 and a 1-year high of $54.58. The firm has a market capitalization of $2.79 billion, a PE ratio of 44.92 and a beta of 0.56.

Exponent (NASDAQ:EXPO) last announced its quarterly earnings data on Thursday, July 19th. The business services provider reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. Exponent had a return on equity of 20.52% and a net margin of 13.51%. The firm had revenue of $95.60 million for the quarter, compared to the consensus estimate of $89.42 million. During the same quarter last year, the business posted $0.51 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, analysts forecast that Exponent will post 1.28 earnings per share for the current year.

In related news, insider Richard Reiss sold 2,236 shares of the business’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $49.43, for a total transaction of $110,525.48. Following the completion of the transaction, the insider now directly owns 4,054 shares of the company’s stock, valued at approximately $200,389.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXPO. BlackRock Inc. boosted its position in shares of Exponent by 121.0% during the 2nd quarter. BlackRock Inc. now owns 7,238,515 shares of the business services provider’s stock worth $349,620,000 after acquiring an additional 3,963,618 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in shares of Exponent by 111.6% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,989,839 shares of the business services provider’s stock worth $96,109,000 after acquiring an additional 1,049,534 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Exponent by 88.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,736,818 shares of the business services provider’s stock worth $83,890,000 after acquiring an additional 814,572 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Exponent by 109.9% during the 2nd quarter. Janus Henderson Group PLC now owns 1,062,498 shares of the business services provider’s stock worth $51,319,000 after acquiring an additional 556,278 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Exponent by 88.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,099,651 shares of the business services provider’s stock worth $53,113,000 after acquiring an additional 515,851 shares in the last quarter. 88.83% of the stock is owned by hedge funds and other institutional investors.

Exponent Company Profile

Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company worldwide. Its services include analysis of product development, product recall, regulatory compliance, and the discovery of potential problems related to products, people, property, and impending litigation.

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