Willdan Group (NASDAQ:WLDN) Earns "Outperform" Rating from Wedbush

Key Points

• Willdan Group's stock received an "outperform" rating from Wedbush with a price target of $120.00, suggesting a potential upside of 30.48% from its previous close.
• Multiple analysts have given positive ratings, including Roth Capital, which has a price target of $103.00, up from $62.00, and Zacks Research upgraded the stock to a "strong-buy" rating.
• Insiders have sold significant amounts of stock recently, with one director decreasing their position by 6.83% and another by 23.67%, implying insider activity amidst the stock fluctuations.

Willdan Group (NASDAQ:WLDN - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at Wedbush in a note issued to investors on Monday,Benzinga reports. They presently have a $120.00 price objective on the construction company's stock. Wedbush's price objective indicates a potential upside of 30.48% from the stock's previous close.

Other analysts have also recently issued reports about the company. Roth Capital restated a "buy" rating and issued a $103.00 price objective (up from $62.00) on shares of Willdan Group in a research report on Tuesday, August 5th. Weiss Ratings restated a "buy (b-)" rating on shares of Willdan Group in a research report on Saturday, September 27th. Finally, Zacks Research upgraded shares of Willdan Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $111.50.

Willdan Group Stock Performance

Willdan Group stock traded up $0.76 during mid-day trading on Monday, hitting $91.97. The company had a trading volume of 21,674 shares, compared to its average volume of 249,135. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 38.28 and a beta of 1.25. The company's fifty day moving average is $101.66 and its 200-day moving average is $69.89. Willdan Group has a 12-month low of $30.43 and a 12-month high of $121.00.

Insider Activity

In other news, Director Thomas Donald Brisbin sold 5,182 shares of Willdan Group stock in a transaction on Monday, August 25th. The shares were sold at an average price of $118.15, for a total transaction of $612,253.30. Following the completion of the sale, the director directly owned 70,696 shares of the company's stock, valued at approximately $8,352,732.40. The trade was a 6.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cynthia Downes sold 2,763 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $109.43, for a total value of $302,355.09. Following the completion of the transaction, the director owned 8,909 shares in the company, valued at approximately $974,911.87. The trade was a 23.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 416,439 shares of company stock valued at $44,925,389. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Willdan Group

A number of large investors have recently bought and sold shares of WLDN. Bank of America Corp DE increased its stake in Willdan Group by 116.8% in the fourth quarter. Bank of America Corp DE now owns 21,843 shares of the construction company's stock valued at $832,000 after purchasing an additional 11,770 shares during the period. GAMMA Investing LLC raised its stake in Willdan Group by 1,809.7% during the 1st quarter. GAMMA Investing LLC now owns 2,158 shares of the construction company's stock valued at $88,000 after acquiring an additional 2,045 shares during the last quarter. Wilsey Asset Management Inc. acquired a new stake in Willdan Group during the 1st quarter worth approximately $213,000. Allspring Global Investments Holdings LLC grew its stake in shares of Willdan Group by 77.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 158,401 shares of the construction company's stock valued at $6,468,000 after purchasing an additional 69,047 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of 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 purchasing an additional 319 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

About Willdan Group

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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