Exponent (NASDAQ:EXPO) Price Target Raised to $82.00

Key Points

• UBS Group raised Exponent’s price target from $72 to $82 while maintaining a “neutral” rating, implying 2.17% upside from the previous close.
• Analyst sentiment remains positive overall: JPMorgan lifted its target to $100 with an “overweight” rating, while the consensus rating is “Moderate Buy” with an average price target of $91.
• Exponent exceeded quarterly expectations, reporting $0.64 EPS versus $0.60 expected and $173.73 million in revenue versus $149.64 million expected; revenue increased 11.7% year over year.

Exponent (NASDAQ:EXPO - Get Free Report) had its price target upped by analysts at UBS Group from $72.00 to $82.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the business services provider's stock. UBS Group's price target would indicate a potential upside of 2.17% from the company's previous close.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Exponent from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday. Weiss Ratings upgraded Exponent from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, October 9th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $91.00.

Exponent Stock Performance

Shares of EXPO stock opened at $80.26 on Friday. The stock's fifty day moving average is $70.19 and its two-hundred day moving average is $66.64. The firm has a market capitalization of $3.82 billion, a P/E ratio of 34.59 and a beta of 0.66. Exponent has a fifty-two week low of $51.91 and a fifty-two week high of $83.18.

Exponent (NASDAQ:EXPO - Get Free Report) last issued its earnings results on Thursday, October 29th. The business services provider reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. The business had revenue of $173.73 million during the quarter, compared to analysts' expectations of $149.64 million. Exponent had a net margin of 17.40% and a return on equity of 34.61%. The company's quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 earnings per share. On average, equities analysts forecast that Exponent will post 2.33 earnings per share for the current year.

Insiders Place Their Bets

In other Exponent news, CEO Catherine Corrigan sold 1,707 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $66.28, for a total value of $113,139.96. Following the transaction, the chief executive officer owned 129,108 shares of the company's stock, valued at approximately $8,557,278.24. This represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EXPO. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Exponent during the 2nd quarter worth about $26,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Exponent in the 2nd quarter valued at $29,000. Bessemer Group Inc. grew its position in Exponent by 37.1% in the first 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 during the last quarter. Allworth Financial LP acquired a new position in Exponent during the 2nd quarter worth approximately $46,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Exponent by 36.4% during the third quarter. Farther Finance Advisors LLC now owns 959 shares of the business services provider's stock valued at $63,000 after purchasing an additional 256 shares in the last quarter. Institutional investors own 92.37% of the company's stock.

Exponent Company Profile

Exponent, Inc is a science and engineering consulting company that helps clients investigate complex technical issues, manage risks, and develop solutions. Its consultants work across disciplines including engineering, materials science, biomechanics, human factors, environmental science, health, data sciences, and economics.

The company provides failure analysis, product safety and testing, accident reconstruction, environmental and health assessments, regulatory support, and expert testimony.

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