RCM Technologies (NASDAQ: RCMT) Upgraded by Zacks Investment Research to “Buy”


RCM Technologies (NASDAQ: RCMTGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Zacks.com reports. The brokerage currently has a $ 27.00 price target on the business services provider’s stock. Zacks Investment Research‘s target price points to a potential downside of 3.57% from the company’s previous close.

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 the 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, development procedures and project and program management. “

Several other equities research analysts have also recently weighed in on RCMT. The Street upgraded shares of RCM Technologies from a “c” rating to a “b-” rating in a research report on Thursday, April 28th. Benchmark increased their objective price on shares of RCM Technologies from $ 8.00 to $ 16.00 in a research report on Friday, April 1st. StockNews.com assumed coverage on shares of RCM Technologies in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. Finally, B. Riley raised their price target on shares of RCM Technologies from $ 7.50 to $ 16.50 in a report on Friday, April 29th.

Shares of NASDAQ RCMT opened at $ 28.00 on Friday. RCM Technologies has a 52-week low of $ 3.35 and a 52-week high of $ 28.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a 50 day moving average price of $ 16.66 and a two-hundred day moving average price of $ 10.44. The stock has a market cap of $ 283.78 million, a P / E ratio of 18.54 and a beta of 1.01.

RCM Technologies (NASDAQ: RCMTGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The business services provider reported $ 0.62 earnings per share for the quarter. RCM Technologies had a net margin of 6.84% and a return on equity of 46.67%. The company had revenue of $ 81.96 million during the quarter. During the same quarter last year, the company earned $ 0.08 earnings per share. Analysts predict that RCM Technologies will post 2 earnings per share for the current fiscal year.

In other news, Director Richard A. Genovese sold 27,813 shares of RCM Technologies stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $ 18.53, for a total value of $ 515,374.89. Following the completion of the transaction, the director now owns 33,975 shares in the company, valued at $ 629,556.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Bradley Visas 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 transaction of $ 615,500.98. Following the completion of the transaction, the chairman now owns 1,511,343 shares of the company’s stock, valued at approximately $ 30,317,540.58. The disclosure for this sale can be found here. Insiders sold 63,930 shares of company stock worth $ 1,237,464 over the last ninety days. Insiders own 23.90% of the company’s stock.

A number of large investors have recently modified their holdings of RCMT. Morgan Stanley purchased a new position in RCM Technologies during the first quarter valued at approximately $ 32,000. Wells Fargo & Company MN grew its stake in RCM Technologies by 452.0% during the second quarter. Wells Fargo & Company MN now owns 9,764 shares of the business services provider’s stock valued at $ 40,000 after acquiring an additional 7,995 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in RCM Technologies during the third quarter valued at approximately $ 131,000. Geode Capital Management LLC grew its stake in RCM Technologies by 3.1% during the third quarter. Geode Capital Management LLC now owns 61,331 shares of the business services provider’s stock valued at $ 372,000 after acquiring an additional 1,844 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in RCM Technologies during the third quarter valued at approximately $ 91,000. 33.71% of the stock is owned by institutional investors.

About RCM Technologies (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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