Benchmark Cuts RCM Technologies (NASDAQ:RCMT) Price Target to $30.00

RCM Technologies (NASDAQ:RCMT) had its price objective lowered by analysts at Benchmark from $37.00 to $30.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Benchmark’s price target indicates a potential upside of 91.51% from the company’s current price.

Separately, B. Riley raised shares of RCM Technologies to a “strong-buy” rating in a research note on Tuesday.

RCM Technologies Trading Up 4.8 %

NASDAQ:RCMT opened at $15.67 on Friday. RCM Technologies has a 52 week low of $13.18 and a 52 week high of $26.37. The stock has a market cap of $119.01 million, a price-to-earnings ratio of 8.03 and a beta of 0.58. The company’s 50 day moving average price is $18.91 and its 200-day moving average price is $20.69. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.06.

RCM Technologies (NASDAQ:RCMT) last released its quarterly earnings results on Wednesday, March 12th. The business services provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.37). RCM Technologies had a return on equity of 58.70% and a net margin of 5.77%. The firm had revenue of $76.91 million for the quarter, compared to analysts’ expectations of $79.00 million.

Institutional Investors Weigh In On RCM Technologies

Several large investors have recently added to or reduced their stakes in the stock. Pacific Ridge Capital Partners LLC purchased a new stake in RCM Technologies in the 4th quarter valued at about $2,668,000. Ancora Advisors LLC purchased a new stake in RCM Technologies in the 4th quarter valued at about $2,161,000. Two Sigma Investments LP boosted its position in RCM Technologies by 10.0% in the 4th quarter. Two Sigma Investments LP now owns 58,228 shares of the business services provider’s stock valued at $1,290,000 after buying an additional 5,304 shares during the period. Truvestments Capital LLC boosted its position in RCM Technologies by 31.2% in the 4th quarter. Truvestments Capital LLC now owns 46,125 shares of the business services provider’s stock valued at $1,022,000 after buying an additional 10,977 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in RCM Technologies in the 4th quarter valued at about $840,000. 43.20% of the stock is owned by hedge funds and other institutional investors.

About RCM Technologies

RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Europe. It operates through three segments: Engineering, Specialty Health Care, and Life Sciences and Information Technology. The Engineering segment offers a range of engineering services, including project management engineering and design, engineering analysis, engineer-procure-construct, configuration management, hardware/software validation and verification, quality assurance, technical writing and publications, manufacturing process planning and improvement, and 3D/BIM integrated design.