Wedbush Raises Willdan Group (NASDAQ:WLDN) Price Target to $35.00

Willdan Group (NASDAQ:WLDN) had its price objective hoisted by Wedbush from $30.00 to $35.00 in a research note published on Monday, Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock. Wedbush also issued estimates for Willdan Group’s Q3 2024 earnings at $0.45 EPS.

A number of other brokerages also recently weighed in on WLDN. StockNews.com downgraded shares of Willdan Group from a strong-buy rating to a buy rating in a report on Saturday, March 16th. Roth Mkm reissued a buy rating and issued a $34.00 price target (up from $27.00) on shares of Willdan Group in a report on Friday, March 22nd.

Willdan Group Price Performance

NASDAQ WLDN opened at $29.20 on Monday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $22.15 and a 200 day simple moving average of $20.70. The company has a market cap of $402.08 million, a P/E ratio of 36.96 and a beta of 1.45. Willdan Group has a 1 year low of $13.86 and a 1 year high of $30.46.

Willdan Group (NASDAQ:WLDN) last posted its quarterly earnings data on Thursday, March 7th. The construction company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.37. The business had revenue of $155.68 million during the quarter, compared to the consensus estimate of $160.00 million. Willdan Group had a net margin of 2.14% and a return on equity of 10.17%. During the same period in the prior year, the firm earned $0.25 EPS. On average, sell-side analysts predict that Willdan Group will post 1.5 EPS for the current year.

Institutional Trading of Willdan Group

Hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund raised its stake in shares of Willdan Group by 62.6% in the 3rd quarter. New York State Common Retirement Fund now owns 5,200 shares of the construction company’s stock valued at $106,000 after buying an additional 2,001 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of Willdan Group by 28.7% in the 3rd quarter. Panagora Asset Management Inc. now owns 42,330 shares of the construction company’s stock valued at $865,000 after buying an additional 9,441 shares in the last quarter. EAM Investors LLC acquired a new position in shares of Willdan Group in the 3rd quarter valued at $1,183,000. Kennedy Capital Management LLC raised its stake in shares of Willdan Group by 0.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 164,272 shares of the construction company’s stock valued at $3,356,000 after buying an additional 1,199 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Willdan Group in the 3rd quarter valued at $422,000. 72.29% of the stock is owned by institutional investors.

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.