Exponent (NASDAQ:EXPO) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Exponent from “hold” to “strong buy.” Analysts’ overall consensus remains “Moderate Buy,” with an average price target of $91.
• Exponent beat quarterly estimates, reporting EPS of $0.64 versus $0.60 expected and revenue of $173.73 million versus $149.64 million expected; revenue rose 11.7% year over year.
• Shares opened at $85.97, near the company’s 12-month high of $87.97.

Exponent (NASDAQ:EXPO - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday, Zacks reports.

Other analysts have also recently issued research reports about the company. Weiss Ratings upgraded Exponent from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 9th. JPMorgan Chase & Co. upped their target price on Exponent from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. Finally, UBS Group raised their price target on Exponent from $72.00 to $82.00 and gave the stock a "neutral" rating in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $91.00.

Exponent Price Performance

NASDAQ EXPO opened at $85.97 on Monday. The firm's fifty day moving average price is $70.82 and its 200 day moving average price is $66.77. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 37.06 and a beta of 0.66. Exponent has a 12 month low of $51.91 and a 12 month high of $87.97.

Exponent (NASDAQ:EXPO - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The business services provider reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. Exponent had a net margin of 17.40% and a return on equity of 34.61%. The firm had revenue of $173.73 million during the quarter, compared to analysts' expectations of $149.64 million. During the same period in the previous year, the company earned $0.55 earnings per share. Exponent's quarterly revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Exponent will post 2.36 earnings per share for the current year.

Insider Activity

In related news, CEO Catherine Corrigan sold 1,707 shares of the business's 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 in the company, valued at $8,557,278.24. The trade was a 1.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Exponent during the second quarter worth $363,428,000. First Trust Advisors LP boosted its position in Exponent by 7.4% during the first quarter. First Trust Advisors LP now owns 964,814 shares of the business services provider's stock worth $62,954,000 after purchasing an additional 66,471 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Exponent by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 918,885 shares of the business services provider's stock valued at $59,958,000 after purchasing an additional 20,270 shares during the last quarter. Resona Asset Management Co. Ltd. grew its holdings in Exponent by 3.5% in the first quarter. Resona Asset Management Co. Ltd. now owns 691,256 shares of the business services provider's stock valued at $45,102,000 after purchasing an additional 23,154 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Exponent by 0.5% in the first quarter. Bank of America Corp DE now owns 539,793 shares of the business services provider's stock valued at $35,221,000 after buying an additional 2,707 shares in the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

About Exponent

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.