Resources Connection, Inc. (NASDAQ:RECN)‘s stock had its “hold” rating restated by stock analysts at Robert W. Baird in a report released on Friday. They presently have a $15.00 price objective on the business services provider’s stock. Robert W. Baird’s price target points to a potential upside of 1.01% from the company’s previous close.
A number of other research firms have also weighed in on RECN. Deutsche Bank AG reissued a “sell” rating and set a $13.00 target price (up previously from $12.00) on shares of Resources Connection in a research report on Friday. Zacks Investment Research lowered shares of Resources Connection from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, BidaskClub lowered shares of Resources Connection from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $15.00.
Shares of Resources Connection (RECN) opened at 14.85 on Friday. The firm has a market capitalization of $443.52 million, a P/E ratio of 26.52 and a beta of 1.18. Resources Connection has a 52 week low of $12.05 and a 52 week high of $19.80. The stock’s 50 day moving average price is $12.86 and its 200 day moving average price is $13.56.
Resources Connection (NASDAQ:RECN) last released its earnings results on Wednesday, October 4th. The business services provider reported $0.12 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.12. The firm had revenue of $141.20 million during the quarter, compared to analyst estimates of $140.29 million. Resources Connection had a net margin of 2.60% and a return on equity of 8.08%. The business’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 EPS. On average, analysts predict that Resources Connection will post $0.69 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in shares of Resources Connection during the first quarter valued at about $116,000. Mason Street Advisors LLC raised its position in shares of Resources Connection by 7.7% during the first quarter. Mason Street Advisors LLC now owns 6,950 shares of the business services provider’s stock valued at $116,000 after buying an additional 499 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Resources Connection by 1.2% during the first quarter. BNP Paribas Arbitrage SA now owns 8,542 shares of the business services provider’s stock valued at $143,000 after buying an additional 104 shares during the last quarter. Aperio Group LLC acquired a new position in shares of Resources Connection during the second quarter valued at about $171,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Resources Connection during the first quarter valued at about $173,000. 82.11% of the stock is owned by institutional investors and hedge funds.
About Resources Connection
Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.
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