Resources Connection (NASDAQ:RGP) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Resources Connection (NASDAQ:RGP) from a hold rating to a sell rating in a research report sent to investors on Saturday.

A number of other research firms also recently commented on RGP. Weiss Ratings raised Resources Connection from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Zacks Research raised shares of Resources Connection from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Resources Connection Trading Up 2.3%

Shares of RGP stock opened at $4.37 on Friday. The stock has a 50 day simple moving average of $4.41 and a 200-day simple moving average of $4.16. The company has a market cap of $150.50 million, a price-to-earnings ratio of -3.64 and a beta of 0.55. Resources Connection has a 12-month low of $3.06 and a 12-month high of $5.55.

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

Institutional Investors Weigh In On Resources Connection

A number of institutional investors and hedge funds have recently modified their holdings of RGP. Eurizon Capital SGR S.p.A. acquired a new position in Resources Connection during the fourth quarter worth $31,000. Intesa Sanpaolo Wealth Management acquired a new stake in Resources Connection in the fourth quarter valued at $33,000. Strs Ohio acquired a new stake in Resources Connection in the first quarter valued at $48,000. Quarry LP increased its position in shares of Resources Connection by 4,995.7% in the third quarter. Quarry LP now owns 9,529 shares of the company’s stock valued at $48,000 after buying an additional 9,342 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in shares of Resources Connection in the fourth quarter valued at $50,000. Institutional investors and hedge funds own 93.23% of the company’s stock.

About Resources Connection

Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.