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

RCM Technologies (NASDAQ:RCMT) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

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

RCM Technologies Stock Performance

Shares of NASDAQ RCMT opened at $23.12 on Friday. The company’s 50 day simple moving average is $24.97 and its 200 day simple moving average is $21.77. RCM Technologies has a fifty-two week low of $17.26 and a fifty-two week high of $32.50. The firm has a market capitalization of $163.92 million, a P/E ratio of 10.91 and a beta of 0.46. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.92.

RCM Technologies (NASDAQ:RCMT) last released its earnings results on Friday, April 3rd. The business services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. The firm had revenue of $86.48 million during the quarter, compared to analyst estimates of $84.46 million. RCM Technologies had a net margin of 5.03% and a return on equity of 37.76%. On average, analysts predict that RCM Technologies will post 2.4 EPS for the current year.

Insider Activity

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

Institutional Trading of RCM Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sei Investments Co. boosted its holdings in 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 increased its stake in RCM Technologies by 40.7% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 258,231 shares of the business services provider’s stock valued at $5,280,000 after buying an additional 74,760 shares during the last quarter. Geode Capital Management LLC lifted 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 worth $2,838,000 after buying an additional 53,094 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its position in RCM Technologies by 40.0% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider’s stock worth $2,782,000 after buying an additional 38,872 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of RCM Technologies by 264.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock worth $1,164,000 after buying an additional 35,835 shares during the last quarter. 43.20% of the stock is currently owned by institutional investors and hedge funds.

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.