Exponent (NASDAQ:EXPO) Now Covered by JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of Exponent (NASDAQ:EXPO) in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage set an “overweight” rating and a $100.00 price target on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 34.66% from the company’s current price.

A number of other analysts also recently commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Exponent in a research note on Thursday. UBS Group reissued a “neutral” rating and issued a $81.00 price target (up from $76.00) on shares of Exponent in a report on Monday, December 15th. Finally, William Blair raised shares of Exponent from a “market perform” rating to an “outperform” rating in a research note on Monday, November 17th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $90.50.

Exponent Price Performance

EXPO stock opened at $74.26 on Monday. The company has a market capitalization of $3.70 billion, a P/E ratio of 36.22 and a beta of 0.81. Exponent has a 12 month low of $63.81 and a 12 month high of $97.57. The firm’s fifty day simple moving average is $72.49 and its 200-day simple moving average is $70.98.

Exponent (NASDAQ:EXPO) last posted its earnings results on Thursday, October 30th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Exponent had a net margin of 18.35% and a return on equity of 24.77%. The company had revenue of $147.12 million during the quarter, compared to the consensus estimate of $131.78 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that Exponent will post 1.98 earnings per share for the current year.

Exponent announced that its board has initiated a share repurchase plan on Thursday, October 30th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Exponent news, CEO Catherine Corrigan sold 1,663 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $72.52, for a total transaction of $120,600.76. Following the completion of the transaction, the chief executive officer directly owned 92,723 shares in the company, valued at approximately $6,724,271.96. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 9,788 shares of company stock valued at $693,648. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Exponent

Large investors have recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in shares of Exponent by 21.7% during the second quarter. Bessemer Group Inc. now owns 829 shares of the business services provider’s stock worth $62,000 after purchasing an additional 148 shares in the last quarter. HM Payson & Co. raised its holdings in shares of Exponent by 33.9% during the 3rd quarter. HM Payson & Co. now owns 589 shares of the business services provider’s stock valued at $41,000 after buying an additional 149 shares during the period. Heritage Family Offices LLP lifted its position in Exponent by 4.5% during the 3rd quarter. Heritage Family Offices LLP now owns 3,627 shares of the business services provider’s stock worth $252,000 after acquiring an additional 155 shares in the last quarter. Arizona State Retirement System lifted its position in Exponent by 1.1% during the 3rd quarter. Arizona State Retirement System now owns 14,984 shares of the business services provider’s stock worth $1,041,000 after acquiring an additional 162 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Exponent by 4.4% in the 2nd quarter. Franklin Resources Inc. now owns 4,070 shares of the business services provider’s stock worth $304,000 after acquiring an additional 173 shares during the period. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

About Exponent

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.