Wedbush Upgrades Willdan Group (WLDN) to Outperform; Q4 Revenues Easily Top Expectations

March 29, 2012 1:37 PM EDT
Get Alerts WLDN Hot Sheet
Price: $28.34 +1.54%

Rating Summary:
    2 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Wedbush upgraded Willdan Group (NASDAQ: WLDN) from Market Perform to Outperform, price target raised from $4.50 to $5.00.

Analyst, Al Kaschalk, said, "We are upgrading shares of WLDN following the company’s better-than-expected Q4 top line performance and improved sentiment around the company’s service lines. The strong revenue performance was due to stabilized business related to California residential housing but also growth in the Homeland Security and Energy Services segments. While the transition away from business in California is in large part out of necessity, management is seeing demand for bid proposals in several areas including energy efficiency, outsourcing and transportation engineering. With Engineering revenues expected to grow 15%, an improving balance sheet and shares trading less than book, shares provide favorable risk/reward profile at current levels."

For an analyst ratings summary and ratings history on Willdan Group click here. For more ratings news on Willdan Group click here.

Shares of Willdan Group closed at $3.69 yesterday.

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