RCM Technologies (NASDAQ:RCMT) Downgraded by Wall Street Zen to Buy

RCM Technologies (NASDAQ:RCMT) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other brokerages have also issued reports on RCMT. B. Riley Financial boosted their target price on RCM Technologies from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Weiss Ratings downgraded RCM Technologies from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday. Zacks Research lowered RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 13th. Finally, Benchmark boosted their price objective on RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.00.

RCM Technologies Trading Up 0.3%

Shares of RCMT stock opened at $31.54 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.48. The firm has a market cap of $224.28 million, a P/E ratio of 13.31 and a beta of 0.48. The company has a 50 day moving average of $38.29 and a 200-day moving average of $29.22. RCM Technologies has a 12-month low of $17.26 and a 12-month high of $43.68.

RCM Technologies (NASDAQ:RCMT) last posted its quarterly earnings data on Thursday, November 12th. The business services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. RCM Technologies had a return on equity of 37.89% and a net margin of 5.22%. The business had revenue of $73.40 million for the quarter, compared to the consensus estimate of $75.95 million. Sell-side analysts anticipate that RCM Technologies will post 2.24 earnings per share for the current year.

Insider Activity at RCM Technologies

In other news, CFO Kevin D. Miller sold 60,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $37.98, for a total value of $2,278,800.00. Following the completion of the transaction, the chief financial officer directly owned 338,362 shares of the company’s stock, valued at $12,850,988.76. This trade represents a 15.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Bradley Vizi sold 74,719 shares of the firm’s stock in a transaction 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 directly owned 1,402,477 shares of the company’s stock, valued at $54,500,256.22. The trade was a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 152,924 shares of company stock worth $5,937,157. Corporate 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 stock. Integrated Wealth Concepts LLC purchased a new position in RCM Technologies during the 2nd quarter valued at about $237,000. Empowered Funds LLC bought a new position in shares of RCM Technologies in the third quarter valued at approximately $670,000. Bank of New York Mellon Corp bought a new position in shares of RCM Technologies in the second quarter valued at approximately $551,000. First Trust Advisors LP boosted its position in shares of RCM Technologies by 29.2% in the third quarter. First Trust Advisors LP now owns 19,763 shares of the business services provider’s stock valued at $804,000 after acquiring an additional 4,472 shares during the period. Finally, WNY Asset Management LLC purchased a new position in RCM Technologies during the first quarter valued at approximately $383,000. Institutional investors own 43.20% of the company’s stock.

RCM Technologies Company Profile

RCM Technologies, Inc. provides business and technology solutions to clients in the United States and other markets. Its services span engineering, specialty health care and life sciences, combining professional expertise with project-based and workforce services. The company’s engineering work supports sectors such as aerospace and defense, energy, and industrial manufacturing. Its specialty health care business supplies clinical professionals and related services, while its life sciences business supports pharmaceutical, biotechnology and medical-device organizations with technical and regulatory expertise.