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Willdan Group (WLDN) Up to Strong Buy on Strong Q3 Results

Zacks Equity Research

On Nov 14, Zacks Investment Research upgraded Willdan Group Inc. (WLDN) to a Zacks Rank #1 (Strong Buy).

Why the Upgrade?

The upgrade came on the back of impressive third-quarter 2014 earnings announced on Nov 6 which surpassed the Zacks Consensus Estimate by 88.9%. Notably, the stock has gained over 10% since it reported its third-quarter results.

Willdan has been primarily benefiting from the cost-containment initiatives, diligent operational execution and a rising demand for energy efficiency and engineering services --driven by improved economic conditions. The company has positioned itself well to leverage from the booming market for energy efficient solutions.

Currently, approximately 50% of the company’s revenues come from its energy business. This apart, Willdan’s engineering business has also been performing impressively. Meanwhile, the company has been reaping benefits from the increasing demand for outsourced city services.

This professional technical and consulting services provider has lately been gathering momentum on strong fundamentals and improved market conditions. Willdan delivered positive earnings surprises over the trailing four quarters with an average beat of 133.12%.

For the third quarter, the company reported recurring earnings of 34 cents a share as against the Zacks Consensus Estimate of 18 cents and the prior-year quarter’s figure of 11 cents. Furthermore, revenues of $28.2 million surpassed the Zacks Consensus Estimate by 13.6% and prior-year quarter sales by 33.2%.

Over the last seven days, estimates for fiscal 2014 increased from 76 cents to $1.21 while for fiscal 2015, the estimates increased from 85 cents to 89 cents a share.

Other Stocks to Consider

Some other companies which are performing equally well include CLARCOR Inc. (CLC), A.O.Smith Corp. (AOS) and Hexcel Corp. (HXL). All three carry a Zacks Rank #2 (Buy).

Read the Full Research Report on AOS
Read the Full Research Report on CLC
Read the Full Research Report on HXL
Read the Full Research Report on WLDN


Zacks Investment Research