Wedbush Raises Willdan Group (NASDAQ:WLDN) Price Target to $35.00

Willdan Group (NASDAQ:WLDN) had its price target raised by Wedbush from $30.00 to $35.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an outperform rating on the construction company’s stock. Wedbush also issued estimates for Willdan Group’s Q3 2024 earnings at $0.45 EPS.

Other equities research analysts have also recently issued reports about the company. Roth Mkm reaffirmed a buy rating and issued a $34.00 price target (up from $27.00) on shares of Willdan Group in a research note on Friday, March 22nd. StockNews.com cut Willdan Group from a strong-buy rating to a buy rating in a research note on Saturday, March 16th.

Willdan Group Price Performance

Shares of Willdan Group stock opened at $29.20 on Monday. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.45. The company has a market cap of $402.08 million, a PE ratio of 36.96 and a beta of 1.45. The business has a 50 day moving average of $22.15 and a 200 day moving average of $20.70. Willdan Group has a 52 week low of $13.86 and a 52 week high of $30.46.

Willdan Group (NASDAQ:WLDN) last announced its earnings results on Thursday, March 7th. The construction company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.37. The company had revenue of $155.68 million during the quarter, compared to the consensus estimate of $160.00 million. Willdan Group had a return on equity of 10.17% and a net margin of 2.14%. During the same quarter in the prior year, the company earned $0.25 earnings per share. As a group, equities research analysts forecast that Willdan Group will post 1.5 earnings per share for the current year.

Institutional Investors Weigh In On Willdan Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WLDN. Rice Hall James & Associates LLC grew its stake in Willdan Group by 0.4% in the first quarter. Rice Hall James & Associates LLC now owns 519,443 shares of the construction company’s stock worth $15,942,000 after purchasing an additional 2,175 shares during the period. Swiss National Bank grew its stake in shares of Willdan Group by 9.4% in the first quarter. Swiss National Bank now owns 30,300 shares of the construction company’s stock worth $930,000 after acquiring an additional 2,600 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Willdan Group by 330.2% in the first quarter. JPMorgan Chase & Co. now owns 69,966 shares of the construction company’s stock worth $2,148,000 after acquiring an additional 53,702 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Willdan Group in the first quarter worth $300,000. Finally, MetLife Investment Management LLC grew its stake in shares of Willdan Group by 56.6% in the first quarter. MetLife Investment Management LLC now owns 7,156 shares of the construction company’s stock worth $220,000 after acquiring an additional 2,586 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other 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.