Resources Connection, Inc. (RECN) Given “Hold” Rating at Robert W. Baird
Resources Connection, Inc. (NASDAQ:RECN)‘s stock had its “hold” rating reiterated by research analysts at Robert W. Baird in a report issued on Friday. They presently have a $15.00 target price on the business services provider’s stock. Robert W. Baird’s price target indicates a potential upside of 1.01% from the stock’s previous close.
Several other research firms also recently issued reports on RECN. Deutsche Bank AG reissued a “sell” rating and issued a $13.00 price target (up previously from $12.00) on shares of Resources Connection in a research note on Friday. Zacks Investment Research cut Resources Connection from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, BidaskClub cut Resources Connection from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $14.00.
Resources Connection (NASDAQ:RECN) traded down 1.33% on Friday, reaching $14.85. The company had a trading volume of 208,886 shares. The firm has a 50 day moving average price of $12.78 and a 200-day moving average price of $13.57. Resources Connection has a 12 month low of $12.05 and a 12 month high of $19.80. The stock has a market capitalization of $443.52 million, a price-to-earnings ratio of 26.52 and a beta of 1.18.
Resources Connection (NASDAQ:RECN) last released its quarterly earnings results on Wednesday, October 4th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. Resources Connection had a return on equity of 8.14% and a net margin of 2.60%. The firm had revenue of $141.20 million for the quarter, compared to the consensus estimate of $140.29 million. During the same quarter last year, the business posted $0.15 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts forecast that Resources Connection will post $0.70 earnings per share for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of RECN. Russell Investments Group Ltd. bought a new position in Resources Connection during the first quarter worth about $116,000. Mason Street Advisors LLC grew its holdings in Resources Connection by 7.7% during the first quarter. Mason Street Advisors LLC now owns 6,950 shares of the business services provider’s stock worth $116,000 after purchasing an additional 499 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Resources Connection by 1.2% during the first quarter. BNP Paribas Arbitrage SA now owns 8,542 shares of the business services provider’s stock worth $143,000 after purchasing an additional 104 shares during the period. Aperio Group LLC bought a new position in Resources Connection during the second quarter worth about $171,000. Finally, Tudor Investment Corp ET AL bought a new position in Resources Connection during the first quarter worth about $173,000. Institutional investors and hedge funds own 82.11% of the company’s stock.
Resources Connection Company Profile
Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.
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