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

Wall Street Zen lowered shares of RCM Technologies (NASDAQ:RCMT) from a strong-buy rating to a buy rating in a research report released on Saturday.

Other equities research analysts have also recently issued research reports about the company. Zacks Research upgraded RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of RCM Technologies in a research note on Friday, March 27th. Finally, Benchmark boosted their price objective on RCM Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $36.00.

RCM Technologies Price Performance

Shares of NASDAQ RCMT opened at $23.12 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.54. RCM Technologies has a twelve month low of $17.26 and a twelve month high of $32.50. The stock has a 50 day moving average of $24.97 and a two-hundred day moving average of $21.77. The stock has a market cap of $163.92 million, a P/E ratio of 10.91 and a beta of 0.46.

RCM Technologies (NASDAQ:RCMT) last issued its quarterly earnings data on Friday, April 3rd. The business services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. RCM Technologies had a return on equity of 38.34% and a net margin of 5.03%.The company had revenue of $86.48 million during the quarter, compared to analysts’ expectations of $84.46 million. On average, research analysts forecast that RCM Technologies will post 2.4 earnings per share for the current year.

Insider Activity at RCM Technologies

In other news, Chairman Bradley Vizi sold 8,237 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $27.52, for a total transaction of $226,682.24. Following the completion of the sale, the chairman owned 1,489,240 shares in the company, valued at $40,983,884.80. This represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin D. Miller sold 4,734 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $32.00, for a total value of $151,488.00. Following the sale, the chief financial officer owned 439,066 shares of the company’s stock, valued at $14,050,112. This trade represents a 1.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 36,437 shares of company stock valued at $1,068,434 in the last 90 days. Company insiders own 28.00% of the company’s stock.

Institutional Investors Weigh In On RCM Technologies

Several large investors have recently modified their holdings of RCMT. Sei Investments Co. raised its stake in shares of RCM Technologies by 209.9% during the first quarter. Sei Investments Co. now owns 126,872 shares of the business services provider’s stock worth $2,428,000 after purchasing an additional 85,936 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its stake in shares of RCM Technologies by 40.7% during the fourth 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 second 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 during the last quarter. Punch & Associates Investment Management Inc. grew its holdings in RCM Technologies by 40.0% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider’s stock worth $2,782,000 after acquiring an additional 38,872 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in RCM Technologies by 264.4% during the second quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock worth $1,164,000 after acquiring an additional 35,835 shares during the period. Hedge funds and other institutional investors own 43.20% of the company’s stock.

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.