Zacks Investment Research cut shares of RCM Technologies (NASDAQ:RCMT) from a buy rating to a hold rating in a report published on Saturday, Zacks.com reports.
According to Zacks, “RCM Technologies, Inc. is a national provider of Business, Technology and resource solutions in information technology and professional engineering to customers in corporate and government sectors. The company has grown its information technology competencies in the areas of resource augmentation, e-business, Enterprise Resource Planning support, network and infrastructure support and knowledge management. RCM’s engineering expertise is in the form of technical design, field engineering, field support, procedures development and project and program management. “
Separately, B. Riley raised their target price on shares of RCM Technologies from $3.00 to $4.00 and gave the stock a neutral rating in a research note on Tuesday, April 6th.
Shares of RCM Technologies stock opened at $3.59 on Friday. The firm has a market capitalization of $40.09 million, a PE ratio of -7.64 and a beta of 1.87. RCM Technologies has a twelve month low of $1.18 and a twelve month high of $12.49. The firm’s 50-day moving average price is $3.52 and its 200 day moving average price is $2.83. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.57.
RCM Technologies (NASDAQ:RCMT) last issued its quarterly earnings results on Thursday, May 13th. The business services provider reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.04. RCM Technologies had a negative net margin of 3.91% and a positive return on equity of 0.70%. On average, sell-side analysts predict that RCM Technologies will post -0.09 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley purchased a new position in RCM Technologies in the 1st quarter worth approximately $32,000. JPMorgan Chase & Co. purchased a new position in RCM Technologies in the 1st quarter worth approximately $36,000. BlackRock Inc. lifted its stake in RCM Technologies by 64.1% in the 1st quarter. BlackRock Inc. now owns 26,245 shares of the business services provider’s stock worth $93,000 after purchasing an additional 10,253 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in RCM Technologies in the 1st quarter worth approximately $46,000. Finally, Geode Capital Management LLC increased its holdings in shares of RCM Technologies by 46.7% during the 1st quarter. Geode Capital Management LLC now owns 59,487 shares of the business services provider’s stock worth $211,000 after buying an additional 18,925 shares during the last quarter. 23.07% of the stock is currently owned by institutional investors and hedge funds.
RCM Technologies Company Profile
RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Serbia. It operates through three segments: Engineering, Specialty Health Care, and Information Technology. The Engineering segment offers a range of engineering services, including project management engineering and design, engineering analysis, engineer-procure-construct, configuration management, hardware/software validation and verification, quality assurance, technical writing and publications, manufacturing process planning and improvement, and 3D/BIM integrated design.
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