RCM Technologies (NASDAQ:RCMT) Cut to Strong Sell at Zacks Research

RCM Technologies (NASDAQ:RCMT) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on RCMT. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RCM Technologies in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of RCM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.00.

RCM Technologies Stock Performance

RCM Technologies stock opened at $19.30 on Tuesday. The business’s 50-day moving average price is $24.50 and its two-hundred day moving average price is $23.85. The stock has a market cap of $143.03 million, a PE ratio of 10.97 and a beta of 0.12. RCM Technologies has a 12-month low of $13.18 and a 12-month high of $28.27. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.92.

RCM Technologies (NASDAQ:RCMT) last posted its earnings results on Wednesday, November 5th. The business services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). RCM Technologies had a return on equity of 39.98% and a net margin of 4.53%.The company had revenue of $70.29 million for the quarter, compared to the consensus estimate of $67.34 million.

Insider Buying and Selling at RCM Technologies

In other news, Chairman Bradley Vizi sold 1,165 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $27.50, for a total transaction of $32,037.50. Following the transaction, the chairman owned 1,511,426 shares in the company, valued at approximately $41,564,215. This represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Saks sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $27.50, for a total value of $137,500.00. Following the completion of the sale, the insider owned 109,547 shares of the company’s stock, valued at approximately $3,012,542.50. This represents a 4.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 33,067 shares of company stock valued at $909,503. Insiders own 26.40% of the company’s stock.

Institutional Trading of RCM Technologies

Several hedge funds have recently bought and sold shares of the business. First Trust Advisors LP bought a new position in shares of RCM Technologies in the third quarter valued at $395,000. Vanguard Group Inc. raised its holdings in shares of RCM Technologies by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 279,889 shares of the business services provider’s stock worth $7,431,000 after acquiring an additional 8,532 shares during the last quarter. JPMorgan Chase & Co. lifted its position in RCM Technologies by 331.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,007 shares of the business services provider’s stock valued at $266,000 after acquiring an additional 7,687 shares in the last quarter. LSV Asset Management boosted its stake in RCM Technologies by 95.7% during the 3rd quarter. LSV Asset Management now owns 67,575 shares of the business services provider’s stock valued at $1,794,000 after purchasing an additional 33,045 shares during the last quarter. Finally, Ballast Asset Management LP increased its holdings in RCM Technologies by 1.0% during the 3rd quarter. Ballast Asset Management LP now owns 139,859 shares of the business services provider’s stock worth $3,713,000 after purchasing an additional 1,348 shares in the last quarter. Institutional investors and hedge funds own 43.20% of the company’s stock.

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.