Resources Connection (NASDAQ:RECN)‘s stock had its “hold” rating reiterated by equities research analysts at Robert W. Baird in a research report issued on Thursday. They currently have a $17.00 price objective on the business services provider’s stock. Robert W. Baird’s target price indicates a potential upside of 9.32% from the company’s current price.
RECN has been the subject of a number of other reports. Zacks Investment Research raised shares of Resources Connection from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a report on Wednesday, March 7th. BidaskClub raised shares of Resources Connection from a “hold” rating to a “buy” rating in a report on Wednesday, March 21st. Finally, JPMorgan Chase lowered shares of Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 price target for the company. in a report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $16.00.
Resources Connection stock opened at $15.55 on Thursday. Resources Connection has a 52-week low of $12.05 and a 52-week high of $17.00. The firm has a market capitalization of $486.31, a PE ratio of 24.09 and a beta of 1.14. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.19.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RECN. Brandes Investment Partners LP grew its holdings in Resources Connection by 133.4% during the 4th quarter. Brandes Investment Partners LP now owns 889,448 shares of the business services provider’s stock valued at $13,742,000 after purchasing an additional 508,340 shares in the last quarter. Greenhouse Funds LLLP bought a new position in Resources Connection during the 4th quarter valued at $3,513,000. Amundi Pioneer Asset Management Inc. bought a new position in Resources Connection during the 4th quarter valued at $3,184,000. BlackRock Inc. boosted its stake in Resources Connection by 5.4% during the 4th quarter. BlackRock Inc. now owns 3,866,684 shares of the business services provider’s stock valued at $59,740,000 after acquiring an additional 198,853 shares during the last quarter. Finally, Grandeur Peak Global Advisors LLC boosted its stake in Resources Connection by 649.0% during the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 179,000 shares of the business services provider’s stock valued at $2,488,000 after acquiring an additional 155,100 shares during the last quarter. 80.94% of the stock is owned by institutional investors and hedge funds.
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About Resources Connection
Resources Connection, Inc provides agile consulting services in North America, Europe, and the Asia Pacific. The company offers finance and accounting services, including process transformation and optimization, financial reporting and analysis, technical and operational accounting, merger and acquisition due diligence and integration, audit readiness, preparation and response, implementation of new accounting standards, and remediation support.
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