Exponent (NASDAQ:EXPO) Price Target Cut to $80.00 by Analysts at JPMorgan Chase & Co.

Exponent (NASDAQ:EXPO) had its price target cut by JPMorgan Chase & Co. from $95.00 to $80.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 47.18% from the company’s current price.

Several other analysts have also recently issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Exponent in a research note on Tuesday, April 21st. UBS Group cut their price target on Exponent from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.50.

Exponent Trading Up 1.3%

Exponent stock traded up $0.69 during mid-day trading on Friday, hitting $54.36. The company’s stock had a trading volume of 141,576 shares, compared to its average volume of 472,177. The firm has a market capitalization of $2.64 billion, a PE ratio of 25.28 and a beta of 0.78. Exponent has a 1 year low of $51.91 and a 1 year high of $81.95. The stock’s fifty day moving average is $66.10 and its two-hundred day moving average is $69.85.

Exponent (NASDAQ:EXPO) last issued its quarterly earnings data on Thursday, April 30th. The business services provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. Exponent had a return on equity of 27.94% and a net margin of 18.07%.The company had revenue of $166.30 million during the quarter, compared to analyst estimates of $149.53 million. During the same period in the prior year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities analysts expect that Exponent will post 2.28 EPS for the current fiscal year.

Insider Activity

In related news, VP Joseph Rakow sold 2,945 shares of Exponent stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $54.66, for a total transaction of $160,973.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Catherine Corrigan sold 3,909 shares of Exponent stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $67.70, for a total value of $264,639.30. Following the transaction, the chief executive officer owned 103,676 shares of the company’s stock, valued at $7,018,865.20. This represents a 3.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 16,752 shares of company stock worth $1,069,921. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Exponent

Several large investors have recently added to or reduced their stakes in EXPO. Norges Bank acquired a new stake in Exponent in the 4th quarter valued at $51,166,000. Two Sigma Investments LP purchased a new position in Exponent in the 3rd quarter valued at about $29,780,000. First Trust Advisors LP boosted its position in Exponent by 135.8% in the 3rd quarter. First Trust Advisors LP now owns 580,134 shares of the business services provider’s stock valued at $40,308,000 after buying an additional 334,154 shares during the last quarter. AQR Capital Management LLC boosted its position in Exponent by 115.1% in the 4th quarter. AQR Capital Management LLC now owns 547,737 shares of the business services provider’s stock valued at $38,046,000 after buying an additional 293,075 shares during the last quarter. Finally, Royce & Associates LP boosted its position in Exponent by 73.8% in the 4th quarter. Royce & Associates LP now owns 652,109 shares of the business services provider’s stock valued at $45,295,000 after buying an additional 276,889 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Exponent Company Profile

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.