Exponent (NASDAQ:EXPO) Hits New 12-Month Low - Here's What Happened

Key Points

• 52-week low: Exponent shares fell to a new 52-week low of $61.43 and last traded around $61.97 on Friday with about 20,747 shares changing hands (prior close $63.44).
• Analysts have trimmed targets—JPMorgan cut its target to $95 and UBS to $75—yet the consensus remains a Moderate Buy with an average target of $85.
• The company beat April-quarter estimates (EPS $0.59 vs. $0.56; revenue $166.3M vs. $149.5M, +14.3% YoY), declared a $0.31 quarterly dividend (2.0% yield), and insiders have sold shares in recent months.

Exponent, Inc. (NASDAQ:EXPO - Get Free Report) shares reached a new 52-week low during trading on Friday . The stock traded as low as $61.43 and last traded at $61.9710, with a volume of 20747 shares traded. The stock had previously closed at $63.44.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Exponent from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday, March 26th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Exponent in a research report on Tuesday, April 21st. Finally, UBS Group lowered their price target on Exponent from $85.00 to $75.00 and set a "neutral" rating on the stock in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Exponent currently has an average rating of "Moderate Buy" and an average target price of $85.00.

Exponent Price Performance

The stock has a market cap of $2.98 billion, a P/E ratio of 28.52 and a beta of 0.78. The company has a fifty day moving average of $67.64 and a 200 day moving average of $70.27.

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

Exponent Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, June 5th. Exponent's dividend payout ratio is 57.67%.

Insider Buying and Selling

In other Exponent news, VP John Pye sold 4,000 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $75.97, for a total value of $303,880.00. Following the sale, the vice president directly owned 25,204 shares in the company, valued at approximately $1,914,747.88. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Catherine Corrigan sold 3,920 shares of Exponent stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $67.15, for a total transaction of $263,228.00. Following the sale, the chief executive officer directly owned 93,731 shares of the company's stock, valued at $6,294,036.65. The trade was a 4.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 15,741 shares of company stock worth $1,095,768. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Exponent

A number of institutional investors have recently added to or reduced their stakes in EXPO. United Services Automobile Association acquired a new position in Exponent during the 1st quarter worth approximately $270,000. Jane Street Group LLC grew its holdings in Exponent by 1,481.0% during the 1st quarter. Jane Street Group LLC now owns 127,222 shares of the business services provider's stock worth $10,313,000 after acquiring an additional 119,175 shares during the last quarter. Invesco Ltd. grew its holdings in Exponent by 3.3% during the 2nd quarter. Invesco Ltd. now owns 554,733 shares of the business services provider's stock worth $41,444,000 after acquiring an additional 17,930 shares during the last quarter. First Trust Advisors LP bought a new stake in Exponent during the 2nd quarter worth approximately $18,377,000. Finally, Walleye Capital LLC grew its holdings in Exponent by 7.5% during the 2nd quarter. Walleye Capital LLC now owns 6,623 shares of the business services provider's stock worth $495,000 after acquiring an additional 464 shares during 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.

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