RCM Technologies (NASDAQ:RCMT) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of RCM Technologies (NASDAQ:RCMT) from a strong sell rating to a hold rating in a research note published on Monday,Zacks.com reports.

Several other analysts also recently issued reports on RCMT. Wall Street Zen downgraded shares of RCM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RCM Technologies in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

RCM Technologies Stock Performance

Shares of RCMT stock opened at $20.40 on Monday. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.78. The company has a market cap of $151.16 million, a PE ratio of 11.78 and a beta of -0.07. The company’s fifty day simple moving average is $20.41 and its 200-day simple moving average is $23.44. RCM Technologies has a 52 week low of $13.18 and a 52 week high of $28.27.

RCM Technologies (NASDAQ:RCMT) last announced its quarterly earnings results on Wednesday, November 5th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). The company had revenue of $70.29 million during the quarter, compared to analyst estimates of $67.34 million. RCM Technologies had a net margin of 4.23% and a return on equity of 35.58%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RCMT. Vanguard Group Inc. boosted its stake in RCM Technologies by 3.1% in the third quarter. Vanguard Group Inc. now owns 279,889 shares of the business services provider’s stock valued at $7,431,000 after acquiring an additional 8,532 shares during the period. Ballast Asset Management LP lifted its holdings in shares of RCM Technologies by 1.0% in the 3rd quarter. Ballast Asset Management LP now owns 139,859 shares of the business services provider’s stock worth $3,713,000 after purchasing an additional 1,348 shares during the last quarter. Geode Capital Management LLC boosted its position in RCM Technologies by 78.9% during the 2nd quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock valued at $2,838,000 after purchasing an additional 53,094 shares during the period. Punch & Associates Investment Management Inc. grew its stake in RCM Technologies by 28.6% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 97,206 shares of the business services provider’s stock worth $2,581,000 after buying an additional 21,606 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in RCM Technologies by 53.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 75,749 shares of the business services provider’s stock worth $2,011,000 after buying an additional 26,363 shares during the last quarter. 43.20% of the stock is owned by institutional investors and hedge funds.

About RCM Technologies

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.