RCM Technologies (NASDAQ:RCMT) Raised to “Buy” at StockNews.com

RCM Technologies (NASDAQ:RCMT) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Several other research analysts have also recently weighed in on the stock. Benchmark lowered their price target on shares of RCM Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. B. Riley upgraded RCM Technologies to a “strong-buy” rating in a report on Tuesday, March 18th.

RCM Technologies Price Performance

Shares of RCMT traded down $0.08 during trading hours on Tuesday, hitting $16.06. 15,376 shares of the stock were exchanged, compared to its average volume of 45,726. The stock’s 50-day moving average price is $17.35 and its two-hundred day moving average price is $20.15. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market cap of $121.88 million, a price-to-earnings ratio of 8.24 and a beta of 0.21. RCM Technologies has a 12-month low of $13.18 and a 12-month high of $26.37.

RCM Technologies (NASDAQ:RCMT) last posted its quarterly earnings results on Wednesday, March 12th. The business services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.37). RCM Technologies had a return on equity of 58.70% and a net margin of 5.77%. The business had revenue of $76.91 million for the quarter, compared to analyst estimates of $79.00 million.

Hedge Funds Weigh In On RCM Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of RCMT. BNP Paribas Financial Markets acquired a new position in shares of RCM Technologies in the third quarter valued at approximately $48,000. State Street Corp raised its stake in shares of RCM Technologies by 6.7% in the third quarter. State Street Corp now owns 25,555 shares of the business services provider’s stock valued at $518,000 after acquiring an additional 1,600 shares in the last quarter. Barclays PLC purchased a new position in RCM Technologies in the third quarter valued at $180,000. Sanctuary Advisors LLC acquired a new position in RCM Technologies during the 3rd quarter worth $265,000. Finally, JPMorgan Chase & Co. increased its holdings in RCM Technologies by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,539 shares of the business services provider’s stock worth $234,000 after purchasing an additional 1,639 shares during the period. 43.20% of the stock is currently owned by hedge funds and other institutional investors.

RCM Technologies Company Profile

RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Europe. It operates through three segments: Engineering, Specialty Health Care, and Life Sciences 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.