RCM Technologies (NASDAQ:RCMT) Rating Lowered to Hold at Zacks Research

RCM Technologies (NASDAQ:RCMT) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

A number of other analysts have also weighed in on RCMT. Benchmark upped their price objective on shares of RCM Technologies from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. B. Riley Financial increased their target price on shares of RCM Technologies from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Weiss Ratings raised shares of RCM Technologies from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen raised shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, RCM Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $45.00.

RCM Technologies Price Performance

Shares of RCMT stock opened at $38.71 on Tuesday. RCM Technologies has a twelve month low of $17.26 and a twelve month high of $43.68. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $39.21 and a two-hundred day simple moving average of $31.09. The stock has a market capitalization of $275.27 million, a price-to-earnings ratio of 16.83 and a beta of 0.40.

RCM Technologies (NASDAQ:RCMT) last announced its quarterly earnings results on Thursday, August 13th. The business services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. The firm had revenue of $93.82 million for the quarter, compared to analyst estimates of $81.75 million. RCM Technologies had a return on equity of 37.92% and a net margin of 5.13%. On average, analysts predict that RCM Technologies will post 2.60 EPS for the current fiscal year.

Insiders Place Their Bets

In other RCM Technologies news, insider Michael Saks sold 706 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $41.12, for a total transaction of $29,030.72. Following the sale, the insider owned 88,601 shares of the company’s stock, valued at approximately $3,643,273.12. This trade represents a 0.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Bradley Vizi sold 74,719 shares of RCM Technologies stock in a transaction on Monday, August 17th. The shares were sold at an average price of $38.86, for a total value of $2,903,580.34. Following the completion of the transaction, the chairman owned 1,402,477 shares in the company, valued at $54,500,256.22. This represents a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 219,997 shares of company stock worth $8,238,837 over the last 90 days. Company insiders own 28.00% of the company’s stock.

Institutional Investors Weigh In On RCM Technologies

A number of hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in RCM Technologies by 3.6% in the first quarter. Renaissance Technologies LLC now owns 434,877 shares of the business services provider’s stock valued at $8,324,000 after purchasing an additional 15,304 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in RCM Technologies by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 169,945 shares of the business services provider’s stock worth $3,253,000 after purchasing an additional 1,774 shares in the last quarter. Punch & Associates Investment Management Inc. raised its holdings in RCM Technologies by 12.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 153,511 shares of the business services provider’s stock worth $2,938,000 after purchasing an additional 17,433 shares in the last quarter. Sei Investments Co. raised its holdings in RCM Technologies by 209.9% in the first quarter. Sei Investments Co. now owns 126,872 shares of the business services provider’s stock worth $2,428,000 after purchasing an additional 85,936 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of RCM Technologies by 3.9% during the first quarter. Janney Montgomery Scott LLC now owns 35,735 shares of the business services provider’s stock valued at $684,000 after buying an additional 1,341 shares during the last quarter. 43.20% of the stock is currently owned by hedge funds and other institutional investors.

RCM Technologies Company Profile

RCM Technologies, Inc is a provider of business and technology solutions for commercial and government customers. The company delivers specialized services through three primary areas: Engineering, Life Sciences and Solutions, and Government Solutions.

Its offerings include engineering and technical services, information technology consulting, digital and business process solutions, and staffing and support for life sciences organizations. RCM Technologies also provides specialized services to federal, state and local government agencies, including program management, technical consulting, and professional staffing.

Founded in 1971, RCM Technologies is headquartered in Pennsauken, New Jersey, and serves customers primarily in the United States, with additional operations and client activity in Canada and Puerto Rico.