Benchmark Increases RCM Technologies (NASDAQ:RCMT) Price Target to $36.00

RCM Technologies (NASDAQ:RCMT) had its price objective raised by Benchmark from $32.00 to $36.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Benchmark’s price objective would indicate a potential upside of 31.10% from the company’s current price.

A number of other equities analysts have also recently weighed in on RCMT. Weiss Ratings reissued a “hold (c)” rating on shares of RCM Technologies in a report on Friday, March 27th. Zacks Research raised RCM Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.00.

RCM Technologies Stock Performance

Shares of NASDAQ RCMT opened at $27.46 on Wednesday. The stock has a market cap of $203.51 million, a price-to-earnings ratio of 15.91 and a beta of -0.01. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.78. RCM Technologies has a 1-year low of $15.20 and a 1-year high of $28.27. The stock’s 50-day moving average is $19.44 and its 200 day moving average is $20.82.

Hedge Funds Weigh In On RCM Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its position in RCM Technologies by 44.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock worth $45,000 after acquiring an additional 579 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in RCM Technologies during the 3rd quarter worth approximately $60,000. JPMorgan Chase & Co. grew its position in RCM Technologies by 1,241.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock worth $55,000 after acquiring an additional 2,147 shares during the last quarter. Lazard Asset Management LLC bought a new position in RCM Technologies during the 2nd quarter worth approximately $77,000. Finally, Bank of America Corp DE grew its position in RCM Technologies by 28.1% during the 3rd quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider’s stock worth $111,000 after acquiring an additional 915 shares during the last quarter. 43.20% of the stock is currently owned by institutional investors.

RCM Technologies Company Profile

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.