Resources Connection (NASDAQ:RECN) Upgraded at BidaskClub
Separately, Zacks Investment Research downgraded shares of Resources Connection from a hold rating to a sell rating in a research report on Wednesday, July 24th.
Resources Connection stock opened at $17.65 on Tuesday. The firm’s 50-day moving average is $16.94 and its 200-day moving average is $16.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.10 and a current ratio of 2.10. Resources Connection has a 1 year low of $12.72 and a 1 year high of $19.50. The company has a market cap of $555.32 million, a P/E ratio of 17.14 and a beta of 1.19.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 22nd were given a $0.14 dividend. This is an increase from Resources Connection’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Wednesday, August 21st. Resources Connection’s dividend payout ratio (DPR) is presently 54.37%.
Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its position in Resources Connection by 104.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,867 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 954 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Resources Connection by 134.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,878 shares of the business services provider’s stock valued at $114,000 after purchasing an additional 3,941 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Resources Connection in the 2nd quarter valued at about $185,000. SG Americas Securities LLC bought a new stake in Resources Connection in the 1st quarter valued at about $293,000. Finally, Man Group plc bought a new stake in Resources Connection in the 2nd quarter valued at about $298,000. Hedge funds and other institutional investors own 82.31% of the company’s stock.
About Resources Connection
Resources Connection, Inc provides business consulting services under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers process transformation and optimization, financial reporting and analysis, technical and operational accounting, and merger and acquisition due diligence and integration services; new accounting standards implementation and remediation support services; and audit readiness, and preparation and response services.
Recommended Story: What is the formula for calculating total return?
Receive News & Ratings for Resources Connection Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resources Connection and related companies with MarketBeat.com's FREE daily email newsletter.