Exponent, Inc. (NASDAQ:EXPO – Get Free Report) was the recipient of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 2,048,221 shares, a decline of 33.5% from the May 14th total of 3,081,228 shares. Based on an average trading volume of 553,097 shares, the short-interest ratio is presently 3.7 days. Currently, 4.3% of the company’s shares are sold short.
Exponent Stock Up 0.3%
Shares of EXPO stock opened at $57.24 on Tuesday. Exponent has a 12-month low of $51.91 and a 12-month high of $81.95. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 26.62 and a beta of 0.72. The firm has a fifty day moving average of $61.76 and a 200-day moving average of $67.96.
Exponent (NASDAQ:EXPO – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. Exponent had a net margin of 18.07% and a return on equity of 27.94%. The company had revenue of $166.30 million during the quarter, compared to analyst estimates of $149.53 million. During the same quarter in the previous year, the business earned $0.52 EPS. The firm’s revenue was up 14.3% on a year-over-year basis. Research analysts expect that Exponent will post 2.28 earnings per share for the current year.
Exponent Announces Dividend
Insider Buying and Selling at Exponent
In other Exponent news, CEO Catherine Corrigan sold 4,194 shares of Exponent stock in a transaction on Friday, May 15th. The shares were sold at an average price of $54.06, for a total transaction of $226,727.64. Following the completion of the sale, the chief executive officer owned 105,218 shares of the company’s stock, valued at approximately $5,688,085.08. The trade was a 3.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Rakow sold 2,945 shares of Exponent stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $54.66, for a total transaction of $160,973.70. The SEC filing for this sale provides additional information. Insiders sold a total of 15,114 shares of company stock worth $884,340 over the last quarter. 1.60% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Exponent
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Exponent during the 4th quarter worth about $51,166,000. Two Sigma Investments LP bought a new stake in shares of Exponent in the third quarter valued at about $29,780,000. First Trust Advisors LP lifted its holdings in shares of Exponent by 135.8% in the third quarter. First Trust Advisors LP now owns 580,134 shares of the business services provider’s stock valued at $40,308,000 after purchasing an additional 334,154 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Exponent by 115.1% during the fourth quarter. AQR Capital Management LLC now owns 547,737 shares of the business services provider’s stock worth $38,046,000 after buying an additional 293,075 shares during the period. Finally, Royce & Associates LP boosted its position in shares of Exponent by 73.8% during the fourth quarter. Royce & Associates LP now owns 652,109 shares of the business services provider’s stock worth $45,295,000 after buying an additional 276,889 shares during the period. 92.37% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Exponent from $95.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, May 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Exponent in a report on Tuesday, April 21st. Finally, UBS Group reissued a “neutral” rating and issued a $75.00 price target on shares of Exponent in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Exponent has an average rating of “Moderate Buy” and a consensus target price of $77.50.
Check Out Our Latest Report on EXPO
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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