Resources Connection (NASDAQ:RGP) Raised to Hold at Wall Street Zen

Resources Connection (NASDAQ:RGP) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other equities analysts also recently issued reports on the company. Zacks Research downgraded Resources Connection from a “hold” rating to a “strong sell” rating in a research report on Monday, April 13th. Weiss Ratings downgraded Resources Connection from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.00.

Resources Connection Stock Performance

Shares of RGP stock opened at $4.45 on Friday. Resources Connection has a 12 month low of $3.06 and a 12 month high of $6.30. The firm has a market capitalization of $152.77 million, a price-to-earnings ratio of -1.50 and a beta of 0.52. The business’s 50-day moving average price is $3.79 and its 200-day moving average price is $4.33.

Resources Connection (NASDAQ:RGP) last issued its quarterly earnings data on Wednesday, April 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). Resources Connection had a negative return on equity of 0.55% and a negative net margin of 20.16%.The company had revenue of $107.93 million for the quarter, compared to the consensus estimate of $108.19 million. On average, sell-side analysts predict that Resources Connection will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Resources Connection

Several hedge funds and other institutional investors have recently modified their holdings of the company. Peapod Lane Capital LLC purchased a new position in shares of Resources Connection during the fourth quarter valued at approximately $1,809,000. Assenagon Asset Management S.A. purchased a new position in shares of Resources Connection during the fourth quarter valued at approximately $1,140,000. Certior Financial Group LLC boosted its position in shares of Resources Connection by 30.2% during the fourth quarter. Certior Financial Group LLC now owns 17,289 shares of the company’s stock valued at $87,000 after buying an additional 4,008 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Resources Connection during the fourth quarter valued at approximately $50,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Resources Connection during the fourth quarter valued at approximately $64,000. Institutional investors own 93.23% of the company’s stock.

About Resources Connection

Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.