Willdan Group (NASDAQ:WLDN) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Willdan Group (NASDAQ:WLDN) from a buy rating to a hold rating in a report issued on Thursday morning, Zacks.com reports.

According to Zacks, “Willdan Group is a provider of professional technical and consulting services to utilities, private industry, and public agencies at all levels of government. Nationwide, they enable their clients to realize cost and energy savings by providing a wide range of specialized services. They assist their clients with a broad range of complementary services relating to: Energy Efficiency and Sustainability; Engineering and Planning; Economic and Financial Consulting; and National Preparedness and Interoperability. They operate their business through a network of offices located primarily in California and New York. They also have operations in Arizona, Colorado, Florida, Illinois, Kansas, Oregon, Texas, Washington and Washington, DC. “

Several other research analysts also recently issued reports on the company. BidaskClub downgraded Willdan Group from a buy rating to a hold rating in a research report on Wednesday, July 3rd. Wedbush restated an outperform rating and set a $45.00 price objective on shares of Willdan Group in a research report on Thursday, June 6th. Finally, ValuEngine downgraded Willdan Group from a buy rating to a hold rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $41.67.

Shares of WLDN stock traded down $0.78 during midday trading on Thursday, reaching $33.69. 33,300 shares of the company traded hands, compared to its average volume of 63,609. The business’s 50 day moving average price is $34.94. Willdan Group has a 1-year low of $28.98 and a 1-year high of $40.70. The company has a current ratio of 1.55, a quick ratio of 1.37 and a debt-to-equity ratio of 0.67. The stock has a market cap of $383.28 million, a price-to-earnings ratio of 21.88 and a beta of 1.21.

Willdan Group (NASDAQ:WLDN) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.09). Willdan Group had a return on equity of 10.83% and a net margin of 1.62%. The company had revenue of $104.40 million for the quarter, compared to analyst estimates of $87.13 million. As a group, equities research analysts expect that Willdan Group will post 1.64 EPS for the current year.

In other Willdan Group news, Chairman Thomas Donald Brisbin sold 33,337 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $35.15, for a total value of $1,171,795.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Paul Milton Whitelaw sold 1,721 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $31.97, for a total value of $55,020.37. The disclosure for this sale can be found here. Insiders sold a total of 47,259 shares of company stock valued at $1,618,600 over the last quarter. 10.80% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc grew its stake in shares of Willdan Group by 31.5% during the 4th quarter. Legal & General Group Plc now owns 1,507 shares of the construction company’s stock valued at $53,000 after buying an additional 361 shares during the period. Taylor Wealth Management Partners grew its stake in shares of Willdan Group by 0.3% during the 2nd quarter. Taylor Wealth Management Partners now owns 163,289 shares of the construction company’s stock valued at $6,083,000 after buying an additional 505 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Willdan Group during the 2nd quarter valued at $27,000. Summit Global Investments grew its stake in shares of Willdan Group by 4.1% during the 1st quarter. Summit Global Investments now owns 20,100 shares of the construction company’s stock valued at $745,000 after buying an additional 800 shares during the period. Finally, New York State Teachers Retirement System purchased a new stake in shares of Willdan Group during the 1st quarter valued at $33,000. Institutional investors own 81.89% 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 survey, program design, master planning, benchmarking analysis, design engineering, construction management, performance contracting, installation, alternative financing, and measurement and verification services.

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