Resources Connection (NASDAQ:RGP) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Resources Connection (NASDAQ:RGP) from a strong sell rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

Other equities analysts have also issued reports about the company. Wall Street Zen upgraded Resources Connection from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered Resources Connection from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.00.

Resources Connection Price Performance

RGP opened at $4.71 on Tuesday. The stock’s 50 day simple moving average is $4.16 and its 200 day simple moving average is $4.32. Resources Connection has a 1 year low of $3.06 and a 1 year high of $6.30. The firm has a market cap of $161.69 million, a price-to-earnings ratio of -1.59 and a beta of 0.55.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings results on Wednesday, April 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, sell-side analysts anticipate that Resources Connection will post -0.29 EPS for the current year.

Resources Connection Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Thursday, May 21st will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Thursday, May 21st. Resources Connection’s dividend payout ratio (DPR) is currently -9.46%.

Institutional Investors Weigh In On Resources Connection

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Resources Connection by 5.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,011,147 shares of the company’s stock worth $10,156,000 after buying an additional 97,228 shares during the last quarter. Brandes Investment Partners LP lifted its stake in shares of Resources Connection by 3.1% in the 4th quarter. Brandes Investment Partners LP now owns 1,442,645 shares of the company’s stock valued at $7,271,000 after purchasing an additional 43,369 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Resources Connection by 37.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,407,032 shares of the company’s stock valued at $7,091,000 after purchasing an additional 380,769 shares during the period. Circumference Group LLC lifted its stake in shares of Resources Connection by 7.8% in the 4th quarter. Circumference Group LLC now owns 1,389,243 shares of the company’s stock valued at $7,002,000 after purchasing an additional 100,000 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Resources Connection by 111.5% in the 1st quarter. Sei Investments Co. now owns 1,329,568 shares of the company’s stock valued at $4,959,000 after purchasing an additional 700,943 shares during the period. 93.23% of the stock is currently owned by institutional investors.

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.