Exponent (NASDAQ:EXPO) Price Target Raised to $82.00

Exponent (NASDAQ:EXPO) had its price target hoisted by UBS Group from $72.00 to $82.00 in a research note published on Friday,Benzinga reports. UBS Group currently has a neutral rating on the business services provider’s stock.

A number of other equities research analysts have also weighed in on EXPO. JPMorgan Chase & Co. boosted their target price on shares of Exponent from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday. Weiss Ratings upgraded Exponent from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 9th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Exponent has a consensus rating of “Moderate Buy” and an average target price of $91.00.

Exponent Stock Performance

EXPO opened at $80.26 on Friday. The stock has a market capitalization of $3.82 billion, a P/E ratio of 34.59 and a beta of 0.66. The company’s 50-day simple moving average is $70.19 and its two-hundred day simple moving average is $66.64. Exponent has a 52-week low of $51.91 and a 52-week high of $83.18.

Exponent (NASDAQ:EXPO) last announced its quarterly earnings results on Thursday, October 29th. The business services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. Exponent had a net margin of 17.40% and a return on equity of 34.61%. The firm had revenue of $173.73 million during the quarter, compared to analyst estimates of $149.64 million. During the same period in the previous year, the business posted $0.55 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Research analysts forecast that Exponent will post 2.33 EPS for the current fiscal year.

Exponent Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, December 4th. Exponent’s dividend payout ratio (DPR) is currently 53.45%.

Insider Activity

In other news, CEO Catherine Corrigan sold 1,707 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $66.28, for a total value of $113,139.96. Following the completion of the sale, the chief executive officer directly owned 129,108 shares in the company, valued at $8,557,278.24. This represents a 1.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exponent

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Exponent during the second quarter valued at $26,000. Public Employees Retirement System of Ohio purchased a new stake in Exponent in the second quarter worth about $29,000. Bessemer Group Inc. increased its position in Exponent by 37.1% in the first quarter. Bessemer Group Inc. now owns 717 shares of the business services provider’s stock worth $47,000 after buying an additional 194 shares in the last quarter. Allworth Financial LP bought a new position in shares of Exponent in the second quarter worth about $46,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Exponent by 36.4% in the third quarter. Farther Finance Advisors LLC now owns 959 shares of the business services provider’s stock worth $63,000 after buying an additional 256 shares during the period. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

About Exponent

Exponent, Inc is a science and engineering consulting company that helps clients investigate complex technical issues, manage risks, and develop solutions. Its consultants work across disciplines including engineering, materials science, biomechanics, human factors, environmental science, health, data sciences, and economics.

The company provides failure analysis, product safety and testing, accident reconstruction, environmental and health assessments, regulatory support, and expert testimony.