RCM Technologies (NASDAQ:RCMT) Stock Rating Lowered by Wall Street Zen

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

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

RCM Technologies Trading Up 0.3%

Shares of RCMT stock opened at $31.54 on Friday. 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 $43.68. The company has a market capitalization of $224.28 million, a PE ratio of 13.31 and a beta of 0.48. The business’s fifty day moving average is $38.29 and its 200 day moving average is $29.22.

RCM Technologies (NASDAQ:RCMT) last posted its earnings results on Thursday, November 12th. The business services provider reported $0.53 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $75.95 million. On average, equities research analysts anticipate that RCM Technologies will post 2.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Bradley Vizi sold 74,719 shares of the 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 transaction, the chairman owned 1,402,477 shares of the company’s stock, valued at $54,500,256.22. This represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Saks sold 10,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $41.07, for a total value of $410,700.00. Following the completion of the transaction, the insider directly owned 89,307 shares in the company, valued at approximately $3,667,838.49. This represents a 10.07% decrease in their position. The SEC filing for this sale provides additional information. Over 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.

Hedge Funds Weigh In On RCM Technologies

Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its holdings in shares of RCM Technologies by 3.6% during the 1st quarter. Renaissance Technologies LLC now owns 434,877 shares of the business services provider’s stock valued at $8,324,000 after buying an additional 15,304 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in RCM Technologies by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 169,945 shares of the business services provider’s stock worth $3,253,000 after buying an additional 1,774 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its stake in RCM Technologies by 12.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 153,511 shares of the business services provider’s stock worth $2,938,000 after buying an additional 17,433 shares in the last quarter. Sei Investments Co. boosted its stake in RCM Technologies by 209.9% in the first quarter. Sei Investments Co. now owns 126,872 shares of the business services provider’s stock worth $2,428,000 after buying an additional 85,936 shares in the last quarter. Finally, Inspire Investing LLC bought a new position in RCM Technologies during the third quarter valued at approximately $2,487,000. 43.20% of the stock is currently owned by institutional investors.

About RCM Technologies

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.