RCM Technologies (NASDAQ:RCMT) Rating Lowered to Hold at Zacks Investment Research

RCM Technologies (NASDAQ:RCMTGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “RCM Technologies, Inc. is a national provider of Business, Technology and resource solutions in information technology and professional engineering to customers in corporate and government sectors. The company has grown its information technology competencies 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, procedures development and project and program management. “

Several other equities research analysts have also recently issued reports on RCMT. B. Riley raised their target price on RCM Technologies from $7.50 to $16.50 in a research note on Friday, April 29th. TheStreet raised RCM Technologies from a “c” rating to a “b-” rating in a research note on Thursday, April 28th. StockNews.com started coverage on RCM Technologies in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company. Finally, Benchmark lifted their price objective on RCM Technologies from $8.00 to $16.00 in a research note on Friday, April 1st.

RCMT stock opened at $24.21 on Friday. The business has a fifty day moving average of $16.26 and a two-hundred day moving average of $10.30. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.52. The stock has a market cap of $245.37 million, a price-to-earnings ratio of 16.03 and a beta of 1.00. RCM Technologies has a 52-week low of $3.35 and a 52-week high of $24.87.

RCM Technologies (NASDAQ:RCMTGet Rating) last posted its earnings results on Wednesday, April 27th. The business services provider reported $0.62 earnings per share (EPS) for the quarter. The company had revenue of $81.96 million during the quarter. RCM Technologies had a return on equity of 46.67% and a net margin of 6.84%. During the same period last year, the business earned $0.08 EPS. As a group, sell-side analysts anticipate that RCM Technologies will post 2 EPS for the current year.

In other RCM Technologies news, Director Richard A. Genovese sold 27,813 shares of RCM Technologies stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $18.53, for a total transaction of $515,374.89. Following the completion of the sale, the director now directly owns 33,975 shares of the company’s stock, valued at approximately $629,556.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Bradley Vizi sold 30,683 shares of RCM Technologies stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $20.06, for a total value of $615,500.98. Following the sale, the chairman now directly owns 1,511,343 shares of the company’s stock, valued at $30,317,540.58. The disclosure for this sale can be found here. Insiders have sold a total of 63,930 shares of company stock valued at $1,237,464 over the last three months. 23.90% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. O Shaughnessy Asset Management LLC lifted its holdings in shares of RCM Technologies by 93.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 23,473 shares of the business services provider’s stock valued at $167,000 after purchasing an additional 11,359 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of RCM Technologies in the 3rd quarter valued at about $91,000. Congress Wealth Management LLC DE purchased a new stake in shares of RCM Technologies in the 4th quarter valued at about $220,000. Acadian Asset Management LLC lifted its holdings in shares of RCM Technologies by 104.7% in the 4th quarter. Acadian Asset Management LLC now owns 184,351 shares of the business services provider’s stock valued at $1,310,000 after purchasing an additional 94,294 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in shares of RCM Technologies by 39.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 12,300 shares of the business services provider’s stock valued at $88,000 after purchasing an additional 3,500 shares during the last quarter. 33.71% of the stock is owned by institutional investors and hedge funds.

RCM Technologies Company Profile (Get 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 Health Care, and Life Sciences and Information Technology. The Engineering segment offers a range of engineering services, including project management engineering and design, engineering analysis, engineer-procure-construct, configuration management, hardware/software validation and verification, quality assurance, technical writing and publications, manufacturing process planning and improvement, and 3D/BIM integrated design.

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