Cantor Fitzgerald Reiterates “Buy” Rating for Exponent, Inc. (NASDAQ:EXPO)

Exponent, Inc. (NASDAQ:EXPO)‘s stock had its “buy” rating reiterated by equities researchers at Cantor Fitzgerald in a report released on Wednesday, July 19th. They currently have a $75.00 price target on the business services provider’s stock, up from their prior price target of $69.00. Cantor Fitzgerald’s target price points to a potential upside of 15.38% from the stock’s current price. Cantor Fitzgerald also issued estimates for Exponent’s FY2017 earnings at $1.96 EPS and FY2018 earnings at $2.09 EPS.

The analysts wrote, “Foresi’s Take. Exponent posted strong revenue growth in the mid-double digits as recent headwinds have begun to subside and the company saw strength in multiple business lines. Lingering headwinds in a couple of areas were more than offset by strong quarters in biomedical, construction consulting, electrical engineering and polymer science practices, and work at a large human factors assessment project for a client in the consumer products industry. The automotive business still faced some challenges, but returned to growth, driven by work on new transportation technologies.””

A number of other equities research analysts also recently commented on the company. BidaskClub downgraded Exponent from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Zacks Investment Research cut Exponent from a “buy” rating to a “hold” rating in a research report on Friday, June 30th.

Shares of Exponent (NASDAQ EXPO) traded down 0.38% during trading on Wednesday, hitting $65.00. 76,026 shares of the stock traded hands. Exponent has a 1-year low of $48.42 and a 1-year high of $68.30. The company has a market cap of $1.68 billion, a P/E ratio of 33.70 and a beta of 0.62. The stock has a 50-day moving average of $61.97 and a 200 day moving average of $59.88.

Exponent (NASDAQ:EXPO) last released its earnings results on Tuesday, July 18th. The business services provider reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.10. Exponent had a return on equity of 16.52% and a net margin of 15.94%. The firm had revenue of $84.10 million during the quarter, compared to the consensus estimate of $79.30 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts predict that Exponent will post $1.97 EPS for the current fiscal year.

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In related news, insider Sally Shepard sold 1,255 shares of the business’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $65.37, for a total value of $82,039.35. Following the sale, the insider now owns 1,560 shares in the company, valued at approximately $101,977.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Pye sold 3,600 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $65.08, for a total value of $234,288.00. Following the sale, the insider now owns 14,767 shares in the company, valued at approximately $961,036.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,855 shares of company stock worth $2,099,002. Corporate insiders own 2.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Riverhead Capital Management LLC boosted its stake in shares of Exponent by 89.7% in the second quarter. Riverhead Capital Management LLC now owns 1,897 shares of the business services provider’s stock worth $111,000 after buying an additional 897 shares during the period. Advisory Services Network LLC bought a new stake in Exponent during the first quarter worth $123,000. Advisor Group Inc. boosted its stake in Exponent by 15.4% in the second quarter. Advisor Group Inc. now owns 2,131 shares of the business services provider’s stock worth $124,000 after buying an additional 284 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in Exponent during the first quarter worth $132,000. Finally, Victory Capital Management Inc. boosted its stake in Exponent by 9.2% in the first quarter. Victory Capital Management Inc. now owns 2,683 shares of the business services provider’s stock worth $160,000 after buying an additional 226 shares during the last quarter. 90.55% of the stock is owned by hedge funds and other institutional investors.

About Exponent

Exponent, Inc (Exponent), along with its subsidiaries, is a science and engineering consulting company. Exponent provides engineering and scientific consulting services to clients around the world. Its service offerings are provided on a project-by-project basis. It operates in two segments: Engineering and Other Scientific, and Environmental and Health.

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