RCM Technologies (NASDAQ:RCMT) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of RCM Technologies (NASDAQ:RCMT) from a hold rating to a buy rating in a research report report published on Friday.

RCM Technologies Trading Down 2.1 %

RCMT stock opened at $19.06 on Friday. RCM Technologies has a 52 week low of $11.14 and a 52 week high of $32.15. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.56 and a current ratio of 1.56. The company’s 50-day simple moving average is $24.96 and its 200 day simple moving average is $25.13. The company has a market capitalization of $151.34 million, a PE ratio of 9.58 and a beta of 0.73.

RCM Technologies (NASDAQ:RCMT) last announced its earnings results on Wednesday, March 13th. The business services provider reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. The company had revenue of $71.03 million for the quarter, compared to analysts’ expectations of $72.47 million. RCM Technologies had a net margin of 6.39% and a return on equity of 71.41%. As a group, sell-side analysts anticipate that RCM Technologies will post 2.12 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Citigroup Inc. bought a new stake in shares of RCM Technologies during the 3rd quarter worth approximately $372,000. Janney Montgomery Scott LLC boosted its holdings in shares of RCM Technologies by 16.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 26,058 shares of the business services provider’s stock valued at $509,000 after acquiring an additional 3,667 shares in the last quarter. LSV Asset Management grew its position in RCM Technologies by 40.8% during the 3rd quarter. LSV Asset Management now owns 67,300 shares of the business services provider’s stock worth $1,315,000 after acquiring an additional 19,500 shares during the last quarter. Barclays PLC acquired a new position in RCM Technologies in the 3rd quarter worth about $99,000. Finally, Bank of New York Mellon Corp grew its holdings in RCM Technologies by 8.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 31,712 shares of the business services provider’s stock worth $620,000 after acquiring an additional 2,419 shares during the last quarter. Institutional investors 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.