Wedbush Reaffirms “Outperform” Rating for Willdan Group (NASDAQ:WLDN)

Willdan Group (NASDAQ:WLDN)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a note issued to investors on Monday,Benzinga reports. They presently have a $120.00 target price on the construction company’s stock. Wedbush’s price target indicates a potential upside of 30.62% from the company’s previous close.

Other analysts have also issued reports about the stock. Roth Capital restated a “buy” rating and set a $103.00 target price (up from $62.00) on shares of Willdan Group in a research report on Tuesday, August 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Willdan Group in a research report on Saturday, September 27th. Finally, Zacks Research upgraded shares of Willdan Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $111.50.

Willdan Group Price Performance

NASDAQ WLDN opened at $91.87 on Monday. The company has a 50-day moving average price of $101.99 and a 200-day moving average price of $70.39. Willdan Group has a 52 week low of $30.43 and a 52 week high of $121.00. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $1.35 billion, a P/E ratio of 38.44 and a beta of 1.25.

Insiders Place Their Bets

In other Willdan Group news, Director Thomas Donald Brisbin sold 130,082 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $109.69, for a total value of $14,268,694.58. Following the completion of the transaction, the director directly owned 320,696 shares in the company, valued at $35,177,144.24. This represents a 28.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cynthia Downes sold 2,763 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $109.43, for a total transaction of $302,355.09. Following the completion of the transaction, the director owned 8,909 shares of the company’s stock, valued at approximately $974,911.87. The trade was a 23.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 416,439 shares of company stock valued at $44,925,389. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Willdan Group

A number of hedge funds have recently modified their holdings of the company. Corient Private Wealth LLC bought a new position in shares of Willdan Group in the second quarter worth approximately $226,000. Tower Research Capital LLC TRC lifted its holdings in shares of Willdan Group by 238.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,763 shares of the construction company’s stock worth $110,000 after buying an additional 1,242 shares in the last quarter. Wasatch Advisors LP purchased a new position in shares of Willdan Group in the second quarter worth $20,188,000. Lazard Asset Management LLC lifted its holdings in shares of Willdan Group by 6.6% in the second quarter. Lazard Asset Management LLC now owns 96,210 shares of the construction company’s stock worth $6,014,000 after buying an additional 5,939 shares in the last quarter. Finally, HRT Financial LP lifted its holdings in shares of Willdan Group by 230.0% in the second quarter. HRT Financial LP now owns 32,729 shares of the construction company’s stock worth $2,045,000 after buying an additional 22,810 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

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.