Willdan Group Inc. (NASDAQ:WLDN) stock has reached a new 52-week high, touching $46.71 in recent trading. This milestone reflects a significant surge in the company's stock value, marking a remarkable 166.3% increase over the past year. Investors have shown growing confidence in Willdan Group's market position and future prospects, propelling the stock to this new height. The company's performance over the last year has been notably robust, with the stock more than doubling in value, which may attract further attention from the market as analysts and investors assess the sustainability of Willdan's growth trajectory.
In other recent news, Willdan Group, Inc. has made considerable strides in its financial performance and strategic growth initiatives. The company reported a substantial increase in both GAAP and adjusted earnings per share in Q2 of fiscal year 2024, more than doubling year-over-year. Contract revenue also saw an 18% organic increase, with adjusted EBITDA growing by 56% compared to the previous year.
Willdan has recently expanded its portfolio with the acquisition of Enica Engineering, an energy and building automation solutions firm. This strategic move is expected to bolster Willdan's energy services and extend its commercial reach. The company also secured a $102 million energy project with the Clark County School District, anticipated to result in $170 million in lifetime energy savings.
On the analyst front, Wedbush recently initiated coverage of Willdan with an Outperform rating, reflecting confidence in the company's growth potential. Additionally, the City of Seattle awarded Willdan a four-year contract to support the Seattle City Light Energy Design Assistance Program, further endorsing the company's technical expertise.
In terms of future expectations, Willdan projects full-year net revenue to be between $280 million and $290 million, adjusted EBITDA between $50 million and $52 million, and adjusted diluted earnings per share between $2 and $2.10. These developments underscore Willdan Group's strong financial performance and strategic growth initiatives.
InvestingPro Insights
Willdan Group's recent achievement of a new 52-week high is further supported by InvestingPro data, which reveals a staggering 163.91% price total return over the past year. This aligns closely with the 166.3% increase mentioned in the article, confirming the stock's exceptional performance.
The company's strong momentum is also evident in its shorter-term performance, with InvestingPro data showing a 34.22% price total return over the last three months and a 60.21% return over six months. These figures underscore the sustained investor confidence in Willdan Group.
InvestingPro Tips highlight that Willdan is "Trading near 52-week high" and has shown a "Strong return over the last three months," which directly corroborates the article's main points. Additionally, the company's "High return over the last year" tip further reinforces its impressive stock performance.
For investors seeking a deeper understanding of Willdan's financial health, InvestingPro offers 11 additional tips, providing a comprehensive analysis of the company's prospects. These insights can be particularly valuable in assessing the sustainability of Willdan's growth trajectory, as mentioned in the article.
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