Resources Connection (NASDAQ:RGP) Rating Lowered to Sell at Wall Street Zen

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

Other equities research analysts have also issued reports about the company. Weiss Ratings raised Resources Connection from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Zacks Research raised shares of Resources Connection from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.00.

Resources Connection Price Performance

NASDAQ RGP opened at $4.37 on Friday. Resources Connection has a 52 week low of $3.06 and a 52 week high of $5.55. The business has a 50 day moving average price of $4.41 and a 200-day moving average price of $4.15. The company has a market cap of $150.50 million, a price-to-earnings ratio of -3.64 and a beta of 0.54.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The business had revenue of $106.11 million for the quarter, compared to analysts’ expectations of $106.76 million. Resources Connection had a negative net margin of 8.98% and a negative return on equity of 4.63%. On average, equities research analysts anticipate that Resources Connection will post -0.44 earnings per share for the current year.

Institutional Trading of Resources Connection

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC boosted its position in Resources Connection by 13.0% in the first quarter. AQR Capital Management LLC now owns 714,138 shares of the company’s stock worth $4,670,000 after purchasing an additional 82,099 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Resources Connection by 30.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 262,248 shares of the company’s stock valued at $1,715,000 after purchasing an additional 61,580 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Resources Connection by 7.3% during the 1st quarter. Empowered Funds LLC now owns 178,769 shares of the company’s stock worth $1,169,000 after purchasing an additional 12,231 shares during the period. Strs Ohio bought a new stake in shares of Resources Connection during the 1st quarter worth $48,000. Finally, XTX Topco Ltd purchased a new position in shares of Resources Connection in the 2nd quarter worth about $118,000. 93.23% of the stock is currently owned by institutional investors.

Resources Connection Company Profile

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.