RCM Technologies (NASDAQ:RCMT) Stock Price Expected to Rise, Benchmark Analyst Says

RCM Technologies (NASDAQ:RCMT) had its target price upped by Benchmark from $36.00 to $45.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Benchmark’s price target would suggest a potential upside of 28.39% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Zacks Research lowered shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of RCM Technologies in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded RCM Technologies from a “hold” rating to a “strong-buy” rating in a report on Sunday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, RCM Technologies currently has a consensus rating of “Hold” and an average price target of $45.00.

RCM Technologies Stock Performance

Shares of RCMT stock opened at $35.05 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.92 and a current ratio of 1.92. RCM Technologies has a 52 week low of $17.26 and a 52 week high of $35.49. The company’s 50 day moving average price is $27.73 and its two-hundred day moving average price is $24.56. The company has a market capitalization of $248.43 million, a P/E ratio of 15.24 and a beta of 0.29.

RCM Technologies (NASDAQ:RCMT) last released its quarterly earnings results on Thursday, August 13th. The business services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.20. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. The company had revenue of $93.82 million during the quarter, compared to analysts’ expectations of $81.75 million. On average, analysts expect that RCM Technologies will post 2.23 earnings per share for the current fiscal year.

Institutional Trading of RCM Technologies

Institutional investors have recently made changes to their positions in the business. Sei Investments Co. boosted its position in RCM Technologies by 209.9% during the first quarter. Sei Investments Co. now owns 126,872 shares of the business services provider’s stock valued at $2,428,000 after purchasing an additional 85,936 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its position in shares of RCM Technologies by 40.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 258,231 shares of the business services provider’s stock worth $5,280,000 after purchasing an additional 74,760 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of RCM Technologies by 78.9% during the 2nd quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock worth $2,838,000 after purchasing an additional 53,094 shares in the last quarter. Punch & Associates Investment Management Inc. raised its stake in shares of RCM Technologies by 40.0% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider’s stock worth $2,782,000 after purchasing an additional 38,872 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of RCM Technologies by 264.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock worth $1,164,000 after purchasing an additional 35,835 shares in the last quarter. Institutional investors own 43.20% of the company’s stock.

About RCM Technologies

RCM Technologies, Inc (NASDAQ: RCMT) is an information technology consulting firm that specializes in delivering secure, enterprise-level technology solutions. The company’s core offerings include IT infrastructure design and integration, data center modernization, cloud migration and management, cybersecurity services, and digital collaboration platforms. RCM Technologies serves clients across federal and commercial markets, tailoring its services to meet the strict security and compliance requirements of government agencies as well as the performance and scalability needs of private-sector organizations.

Founded in the mid-1980s and headquartered in Dresher, Pennsylvania, RCM Technologies has built a reputation for end-to-end project delivery, from initial assessment and design through implementation and ongoing managed support.