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

Zacks Research cut shares of RCM Technologies (NASDAQ:RCMT) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks reports.

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

RCM Technologies Stock Down 3.5%

NASDAQ RCMT opened at $38.71 on Tuesday. RCM Technologies has a 12 month low of $17.26 and a 12 month high of $43.68. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.48. The stock has a market cap of $275.27 million, a PE ratio of 16.83 and a beta of 0.40. The stock’s 50 day moving average is $39.21 and its 200 day moving average is $31.09.

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

Insider Transactions at RCM Technologies

In other news, Chairman Bradley Vizi sold 74,719 shares of RCM Technologies 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 completion of the transaction, the chairman owned 1,402,477 shares in the company, valued at approximately $54,500,256.22. The trade was a 5.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin D. Miller sold 1,753 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were 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 $13,912,789.15. This trade represents a 0.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 219,997 shares of company stock valued at $8,238,837 in the last ninety days. Corporate insiders own 28.00% of the company’s stock.

Hedge Funds Weigh In On RCM Technologies

A number of hedge funds have recently added to or reduced their stakes in RCMT. Integrated Wealth Concepts LLC bought a new position in RCM Technologies in the second quarter worth approximately $237,000. Squarepoint Ops LLC lifted its holdings in RCM Technologies by 20.8% during the second quarter. Squarepoint Ops LLC now owns 22,407 shares of the business services provider’s stock worth $633,000 after buying an additional 3,853 shares during the period. Bank of New York Mellon Corp bought a new stake in RCM Technologies during the 2nd quarter valued at $551,000. WNY Asset Management LLC bought a new stake in RCM Technologies during the 1st quarter valued at $383,000. Finally, Punch & Associates Investment Management Inc. boosted its position in RCM Technologies by 12.8% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 153,511 shares of the business services provider’s stock valued at $2,938,000 after acquiring an additional 17,433 shares in the last quarter. 43.20% of the stock is currently owned by institutional investors.

About RCM Technologies

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.