Resources Connection (NASDAQ:RGP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Resources Connection (NASDAQ:RGP) from a sell rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also issued research reports about the stock. Zacks Research upgraded shares of Resources Connection from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Resources Connection in a report on Friday, September 11th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Resources Connection presently has an average rating of “Hold”.

Resources Connection Stock Performance

Shares of NASDAQ:RGP opened at $3.74 on Friday. The company has a market capitalization of $129.78 million, a P/E ratio of -3.12 and a beta of 0.56. The company’s 50-day moving average is $4.11 and its 200 day moving average is $4.17. Resources Connection has a fifty-two week low of $3.06 and a fifty-two week high of $5.36.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $106.11 million during the quarter, compared to the consensus estimate of $106.76 million. Resources Connection had a negative net margin of 8.98% and a negative return on equity of 4.63%. As a group, research analysts predict that Resources Connection will post -0.44 earnings per share for the current year.

Resources Connection Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 3rd were paid a $0.07 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $0.28 annualized dividend and a dividend yield of 7.5%. Resources Connection’s dividend payout ratio (DPR) is presently -23.33%.

Institutional Trading of Resources Connection

Institutional investors have recently modified their holdings of the business. Tieton Capital Management LLC bought a new stake in Resources Connection during the 2nd quarter valued at $11,975,000. Brandes Investment Partners LP raised its stake in shares of Resources Connection by 3.1% during the 4th quarter. Brandes Investment Partners LP now owns 1,442,645 shares of the company’s stock valued at $7,271,000 after purchasing an additional 43,369 shares during the period. Circumference Group LLC lifted its holdings in Resources Connection by 7.8% during the 4th quarter. Circumference Group LLC now owns 1,389,243 shares of the company’s stock worth $7,002,000 after purchasing an additional 100,000 shares in the last quarter. Sei Investments Co. lifted its holdings in Resources Connection by 111.5% during the 1st quarter. Sei Investments Co. now owns 1,329,568 shares of the company’s stock worth $4,959,000 after purchasing an additional 700,943 shares in the last quarter. Finally, BlackRock Inc. bought a new position in Resources Connection in the 2nd quarter worth about $4,825,000. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

About Resources Connection

Resources Connection, Inc (NASDAQ:RGP), operating under the RGP brand, is a global consulting services company that helps organizations manage business-critical initiatives and transformation projects. The company provides experienced consultants and project teams to support clients on a flexible, project-based basis.

RGP’s services cover areas including finance and accounting, technology, supply chain and procurement, human resources, legal and compliance, risk management, and business transformation.