Willdan Group’s (WLDN) Outperform Rating Reaffirmed at Wedbush

Willdan Group (NASDAQ:WLDN)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a report released on Monday,Benzinga reports. They currently have a $120.00 target price on the construction company’s stock. Wedbush’s price target would indicate a potential upside of 30.48% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Willdan Group in a research report on Saturday, September 27th. Zacks Research upgraded Willdan Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Finally, 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. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $111.50.

Willdan Group Stock Performance

NASDAQ WLDN traded up $0.76 on Monday, hitting $91.97. 21,674 shares of the company’s stock were exchanged, compared to its average volume of 249,135. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 38.28 and a beta of 1.25. The firm’s 50-day moving average price is $101.66 and its two-hundred day moving average price is $69.89. Willdan Group has a fifty-two week low of $30.43 and a fifty-two week high of $121.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.43 and a quick ratio of 1.43.

Insider Activity

In other news, Director Dennis V. Mcginn sold 7,298 shares of Willdan Group stock in a transaction that occurred on Thursday, September 18th. The stock was 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 of the company’s stock, valued at approximately $1,204,605.60. The trade was a 39.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Cynthia Downes sold 2,763 shares of the firm’s stock in a transaction that occurred on 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 sale, the director owned 8,909 shares in the company, valued at approximately $974,911.87. This represents a 23.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 416,439 shares of company stock worth $44,925,389 over the last three months. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Willdan Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AdvisorShares Investments LLC bought a new stake in shares of Willdan Group in the second quarter valued at about $30,000. USA Financial Formulas acquired a new position in Willdan Group in the second quarter worth about $65,000. McIlrath & Eck LLC acquired a new stake in Willdan Group during the first quarter valued at approximately $75,000. Raymond James Financial Inc. acquired a new stake in Willdan Group in the 2nd quarter valued at $80,000. Finally, GAMMA Investing LLC raised its stake in 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 acquiring an additional 2,045 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.