RCM Technologies (NASDAQ:RCMT) Downgraded by Zacks Research to Hold

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

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

RCM Technologies Trading Down 3.5%

RCM Technologies stock opened at $38.71 on Tuesday. RCM Technologies has a 52 week low of $17.26 and a 52 week high of $43.68. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market capitalization of $275.27 million, a P/E ratio of 16.83 and a beta of 0.40. The stock has a 50-day simple moving average of $39.21 and a 200 day simple moving average of $31.09.

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

Insider Transactions at RCM Technologies

In other news, CFO Kevin Miller sold 1,753 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $42.05, for a total transaction of $73,713.65. Following the transaction, the chief financial officer owned 330,863 shares in the company, valued at approximately $13,912,789.15. This trade represents a 0.53% 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, Chairman Bradley Vizi sold 74,719 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $38.86, for a total value of $2,903,580.34. Following the transaction, the chairman owned 1,402,477 shares in the company, valued at approximately $54,500,256.22. This trade represents a 5.06% decrease in their position. 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 quarter. Company insiders own 28.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in shares of RCM Technologies by 3.9% in the first quarter. Janney Montgomery Scott LLC now owns 35,735 shares of the business services provider’s stock valued at $684,000 after acquiring an additional 1,341 shares during the period. Dimensional Fund Advisors LP raised its position in shares of 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 valued at $3,253,000 after buying an additional 1,774 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of RCM Technologies by 20.8% in the second quarter. Squarepoint Ops LLC now owns 22,407 shares of the business services provider’s stock valued at $633,000 after buying an additional 3,853 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of RCM Technologies in the second quarter valued at approximately $237,000. Finally, Renaissance Technologies LLC grew its position in RCM Technologies by 3.6% during the first quarter. Renaissance Technologies LLC now owns 434,877 shares of the business services provider’s stock worth $8,324,000 after buying an additional 15,304 shares in the last quarter. Institutional investors own 43.20% of the company’s stock.

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.