Resources Connection, Inc. (RECN) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Resources Connection, Inc. (NASDAQ:RECN) from a hold rating to a buy rating in a research report released on Saturday. Zacks Investment Research currently has $17.00 price target on the business services provider’s stock.

According to Zacks, “Resources Connection, Inc. is a professional services firm that provides experienced accounting and finance, human resources management and information technology professionals to clients on a project-by-project basis. In accounting and finance, they assist clients with discrete projects requiring specialized professional expertise, such as mergers and acquisitions due diligence, financial analyses and tax-related projects. They also provide human resources management services and information technology services. “

A number of other equities analysts also recently issued reports on RECN. Deutsche Bank AG reaffirmed a sell rating and set a $13.00 price target (up from $12.00) on shares of Resources Connection in a research report on Friday, October 6th. Robert W. Baird reaffirmed a hold rating and set a $15.00 price target on shares of Resources Connection in a research report on Friday, October 6th. Finally, BidaskClub downgraded Resources Connection from a hold rating to a sell rating in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock presently has a consensus rating of Hold and an average target price of $15.00.

Shares of Resources Connection (NASDAQ RECN) opened at 14.90 on Friday. The company has a market cap of $445.02 million, a price-to-earnings ratio of 26.61 and a beta of 1.18. The firm has a 50 day moving average price of $13.00 and a 200-day moving average price of $13.50. Resources Connection has a 12-month low of $12.05 and a 12-month high of $19.80.

Resources Connection (NASDAQ:RECN) last posted its earnings results on Wednesday, October 4th. The business services provider reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. The company had revenue of $141.20 million during the quarter, compared to analyst estimates of $140.29 million. Resources Connection had a return on equity of 8.08% and a net margin of 2.60%. Resources Connection’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share. On average, equities analysts expect that Resources Connection will post $0.69 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was originally reported by Markets Daily and is owned by of Markets Daily. If you are accessing this piece on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this piece can be viewed at https://www.themarketsdaily.com/2017/10/11/resources-connection-inc-recn-stock-rating-upgraded-by-zacks-investment-research.html.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Thursday, August 24th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 22nd. This is an increase from Resources Connection’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.22%. Resources Connection’s dividend payout ratio is presently 102.13%.

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Resources Connection during the first quarter worth $116,000. Mason Street Advisors LLC increased its position in shares of Resources Connection by 7.7% during the first quarter. Mason Street Advisors LLC now owns 6,950 shares of the business services provider’s stock worth $116,000 after purchasing an additional 499 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Resources Connection by 1.2% during the first quarter. BNP Paribas Arbitrage SA now owns 8,542 shares of the business services provider’s stock worth $143,000 after purchasing an additional 104 shares in the last quarter. Aperio Group LLC acquired a new position in shares of Resources Connection during the second quarter worth $171,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Resources Connection during the first quarter worth $173,000. 82.11% of the stock is currently owned by institutional investors and hedge funds.

Resources Connection Company Profile

Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.

Get a free copy of the Zacks research report on Resources Connection (RECN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Resources Connection Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resources Connection Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply