Willdan Group (NASDAQ:WLDN) Downgraded to Hold Rating by Zacks Research

Key Points

• Willdan Group has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, reflecting a shift in analyst sentiment.
• Despite the downgrade, the stock is still rated as a "Moderate Buy" with a consensus target price of $111.50, indicating that some analysts remain optimistic about its future performance.
• Insider activity includes significant sales, with the CFO selling over 7,700 shares, signaling potential caution among company leadership regarding stock performance.

Willdan Group (NASDAQ:WLDN - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research analysts have also commented on WLDN. Weiss Ratings restated a "buy (b-)" rating on shares of Willdan Group in a research note on Wednesday. Roth Capital restated a "buy" rating and set a $103.00 price target (up previously from $62.00) on shares of Willdan Group in a research note on Tuesday, August 5th. Finally, Wedbush reiterated an "outperform" rating and issued a $120.00 target price on shares of Willdan Group in a research note on Monday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $111.50.

Willdan Group Stock Performance

Shares of WLDN opened at $95.27 on Tuesday. The company's fifty day moving average is $102.25 and its 200-day moving average is $70.56. Willdan Group has a 12 month low of $30.43 and a 12 month high of $121.00. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 39.86 and a beta of 1.25. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.22.

Insider Activity at Willdan Group

In other news, CFO Creighton K. Early sold 7,764 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $116.54, for a total transaction of $904,816.56. Following the transaction, the chief financial officer owned 72,071 shares in the company, valued at approximately $8,399,154.34. The trade was a 9.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dennis V. Mcginn sold 7,298 shares of Willdan Group stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $106.32, for a total transaction of $775,923.36. Following the sale, the director owned 11,330 shares in the company, valued at approximately $1,204,605.60. This trade represents a 39.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 416,439 shares of company stock worth $44,925,389. Insiders own 8.60% of the company's stock.

Hedge Funds Weigh In On Willdan Group

A number of large investors have recently modified their holdings of WLDN. GAMMA Investing LLC lifted its position in shares of Willdan Group by 1,809.7% during the first quarter. GAMMA Investing LLC now owns 2,158 shares of the construction company's stock worth $88,000 after purchasing an additional 2,045 shares in the last quarter. Wilsey Asset Management Inc. bought a new stake in shares of Willdan Group during the first quarter worth approximately $213,000. Allspring Global Investments Holdings LLC lifted its holdings in Willdan Group by 77.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 158,401 shares of the construction company's stock valued at $6,468,000 after buying an additional 69,047 shares during the period. Principal Financial Group Inc. lifted its holdings in Willdan Group by 3.9% in the first quarter. Principal Financial Group Inc. now owns 8,526 shares of the construction company's stock valued at $347,000 after buying an additional 319 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new position in Willdan Group in the first quarter valued at approximately $276,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Willdan Group Company Profile

Willdan Group, Inc, together with its subsidiaries, provides professional, technical, and consulting services primarily in the United States. It operates in two segments, Energy, and Engineering and Consulting. The Energy segment offers comprehensive audit and surveys, program design and implementation, master planning, demand reduction, grid optimization, benchmarking analyses, design engineering, construction management, performance contracting, installation, alternative financing, measurement and verification services, and software and data analytics, as well as energy consulting and engineering, turnkey facility and infrastructure projects, and customer support services.

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