Willdan Group (NASDAQ:WLDN) Raised to Strong-Buy at Zacks Research

Key Points

• Willdan Group has been upgraded from a "hold" rating to a "strong-buy" rating by Zacks Research, indicating increased confidence from analysts in the company's stock performance.
• Research firm Roth Capital raised its price target for Willdan Group shares significantly from $62.00 to $103.00, while Wedbush also increased theirs to $120.00.
• Insider trading activity shows that directors have recently sold a considerable number of shares, including a sale of over 130,000 shares by Director Thomas Donald Brisbin for approximately $14.27 million.

Willdan Group (NASDAQ:WLDN - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research firms also recently weighed in on WLDN. Roth Capital reaffirmed 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. Wedbush increased their price target on shares of Willdan Group from $85.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $111.50.

Willdan Group Stock Up 4.6%

Shares of NASDAQ WLDN opened at $111.11 on Thursday. Willdan Group has a 1 year low of $30.43 and a 1 year high of $121.00. The firm's 50 day moving average price is $82.06 and its 200 day moving average price is $55.63. The firm has a market cap of $1.63 billion, a P/E ratio of 46.49 and a beta of 1.31. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.43 and a current ratio of 1.43.

Insiders Place Their Bets

In other news, Director Thomas Donald Brisbin sold 130,082 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $109.69, for a total value of $14,268,694.58. Following the transaction, the director owned 320,696 shares of the company's stock, valued at approximately $35,177,144.24. This trade represents a 28.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Cynthia Downes sold 2,763 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $109.43, for a total transaction of $302,355.09. Following the completion of the transaction, the director directly owned 8,909 shares in the company, valued at approximately $974,911.87. This represents a 23.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,823 shares of company stock worth $18,081,688. 8.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Willdan Group

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Willdan Group by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 774,212 shares of the construction company's stock valued at $31,526,000 after acquiring an additional 22,227 shares during the period. Lord Abbett & CO. LLC grew its holdings in Willdan Group by 13.4% during the 4th quarter. Lord Abbett & CO. LLC now owns 432,135 shares of the construction company's stock valued at $16,460,000 after purchasing an additional 51,003 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Willdan Group by 13.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 419,319 shares of the construction company's stock valued at $15,972,000 after purchasing an additional 49,217 shares in the last quarter. Geode Capital Management LLC grew its holdings in Willdan Group by 10.3% during the 2nd quarter. Geode Capital Management LLC now owns 336,752 shares of the construction company's stock valued at $21,054,000 after purchasing an additional 31,561 shares in the last quarter. Finally, Wasatch Advisors LP acquired a new stake in Willdan Group during the 2nd quarter valued at $20,188,000. Hedge funds and other institutional investors 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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