RCM Technologies (NASDAQ: RCMT – Get a rating) has been upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report released on Saturday, Zacks.com reports. The company currently has a price target of $27.00 on shares of the business service provider. Zacks Investment ResearchThe stock’s price target would indicate a potential decline of 3.57% from the current stock price.
According to Zacks, “RCM Technologies, Inc. is a national provider of business, technology and resource solutions in information technology and professional engineering for clients in the enterprise and government sectors. The company has developed its technology skills information in the areas of resource augmentation, e-business, enterprise resource planning support, network and infrastructure support, and knowledge management.RCM’s engineering expertise is in the form of technical design, field engineering, field support, procedure development, and project and program management.”
A number of other brokerages have also recently released reports on RCMT. TheStreet upgraded RCM Technologies from a “c” to a “b-” rating in a Thursday, April 28 research note. Benchmark raised its price target on RCM Technologies from $8.00 to $16.00 in a Friday, April 1 research note. StockNews.com launched coverage on RCM Technologies in a research note on Thursday, March 31. They issued a “Strong Buy” rating for the company. Finally, B. Riley raised his price target on RCM Technologies from $7.50 to $16.50 in a Friday, April 29 research note.
RCMT shares opened at $28.00 on Friday. The stock’s fifty-day moving average is $16.66 and its two-hundred-day moving average is $10.44. The company has a debt ratio of 0.52, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $283.78 million, a P/E ratio of 18.54 and a beta of 1.01. RCM Technologies has a fifty-two week minimum of $3.35 and a fifty-two week maximum of $28.00.
RCM Technologies (NASDAQ: RCMT – Get a rating) last reported quarterly earnings data on Wednesday, April 27. The business services provider reported earnings per share of $0.62 for the quarter. The company had revenue of $81.96 million for the quarter. RCM Technologies had a return on equity of 46.67% and a net margin of 6.84%. In the same quarter a year earlier, the company posted EPS of $0.08. On average, equity analysts expect RCM Technologies to post 2 earnings per share for the current year.
In other RCM Technologies news, Director Richard A. Genovese sold 27,813 shares of RCM Technologies in a trade that took place on Tuesday, May 10. The stock was sold at an average price of $18.53, for a total transaction of $515,374.89. Following the transaction, the director now owns 33,975 shares of the company, valued at $629,556.75. The transaction was disclosed in an SEC filing, available at this link. Additionally, Chairman Bradley Vizi sold 1,539 shares of the company in a trade that took place on Thursday, May 5. The shares were sold at an average price of $20.00, for a total value of $30,780.00. Following completion of the transaction, the President now directly owns 1,474,526 shares of the company, valued at approximately $29,490,520. Disclosure of this sale can be found here. Insiders sold a total of 63,930 shares of the company valued at $1,237,464 over the past three months. Company insiders hold 23.90% of the company’s stock.
A number of institutional investors have recently increased or reduced their stake in RCMT. State Street Corp increased its stake in RCM Technologies by 3.6% during the first quarter. State Street Corp now owns 25,955 shares of the business services provider worth $256,000 after acquiring an additional 900 shares in the last quarter. Geode Capital Management LLC increased its position in RCM Technologies by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 61,331 shares of the business services provider valued at $372,000 after acquiring an additional 1,844 shares during the period. Citigroup Inc. acquired a new position in shares of RCM Technologies during the 1st quarter at a value of $26,000. Morgan Stanley increased its position in RCM Technologies shares by 31.9% during the second quarter. Morgan Stanley now owns 11,955 shares of the business services provider valued at $49,000 after buying an additional 2,890 shares during the period. Finally, EAM Investors LLC increased its stake in RCM Technologies shares by 1.6% during the 1st quarter. EAM Investors LLC now owns 192,421 shares of the business services provider worth $1,897,000 after acquiring an additional 2,980 shares in the last quarter. Hedge funds and other institutional investors hold 33.71% of the company’s shares.
RCM Technologies Company Profile (Get a rating)
RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico and Serbia. It operates through three segments: Engineering, Specialty Healthcare, and Life Sciences and Information Technology. The Engineering segment offers a range of engineering services, including project management engineering and design, technical analysis, engineering-procurement-construction, configuration management, validation and verification hardware/software, quality assurance, technical writing and publications, manufacturing process planning and improvement, and 3D/BIM integrated design.
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