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, Wall Street Zen reports.

RGP has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Resources Connection in a research note on Friday, September 11th. Zacks Research raised Resources Connection from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Resources Connection currently has an average rating of “Hold”.

Resources Connection Price Performance

RGP stock opened at $3.89 on Friday. The company has a market capitalization of $134.98 million, a P/E ratio of -3.24 and a beta of 0.56. The company has a 50-day simple moving average of $4.12 and a 200 day simple moving average of $4.17. Resources Connection has a fifty-two week low of $3.06 and a fifty-two week high of $5.36.

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

Institutional Investors Weigh In On Resources Connection

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Resources Connection in the 2nd quarter worth approximately $4,825,000. Tieton Capital Management LLC bought a new stake in shares of Resources Connection in the 2nd quarter worth approximately $11,975,000. Sei Investments Co. lifted its stake in Resources Connection by 111.5% during the first 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 last quarter. Bank of New York Mellon Corp bought a new stake in Resources Connection during the second quarter worth approximately $830,000. Finally, North Star Investment Management Corp. grew its position in Resources Connection by 574.3% in the first quarter. North Star Investment Management Corp. now owns 236,000 shares of the company’s stock worth $880,000 after buying an additional 201,000 shares during the last quarter. 93.23% of the stock is owned by institutional investors and hedge funds.

Resources Connection Company Profile

Resources Connection, Inc (NASDAQ:RGP) is a professional services and consulting company that helps organizations manage business-critical projects, operational changes and workforce needs. The company delivers its services primarily through RGP, its consulting platform, which connects clients with experienced professionals and project teams.

RGP supports a range of corporate functions, including finance and accounting, business transformation, information technology, legal and compliance, human resources, supply chain and risk management.