Resources Connection (NASDAQ:RECN) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other analysts also recently issued research reports about the stock. TheStreet raised shares of Resources Connection from a “c+” rating to a “b” rating in a report on Thursday, January 4th. JPMorgan Chase & Co. downgraded shares of Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 price target on the stock. in a report on Thursday, January 4th. Robert W. Baird reissued a “hold” rating and issued a $15.00 price objective on shares of Resources Connection in a report on Friday, November 10th. Zacks Investment Research raised shares of Resources Connection from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Tuesday, January 9th. Finally, Deutsche Bank reissued a “sell” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Resources Connection in a report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Resources Connection currently has an average rating of “Hold” and an average price target of $15.50.

Shares of Resources Connection (NASDAQ:RECN) opened at $16.35 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.36 and a current ratio of 2.36. The stock has a market cap of $492.59, a PE ratio of 28.19 and a beta of 1.18. Resources Connection has a 1-year low of $12.05 and a 1-year high of $17.55.

Resources Connection (NASDAQ:RECN) last announced its quarterly earnings results on Wednesday, January 3rd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $156.70 million for the quarter, compared to the consensus estimate of $152.91 million. Resources Connection had a net margin of 2.98% and a return on equity of 8.25%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 EPS. sell-side analysts forecast that Resources Connection will post 0.83 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of RECN. SG Americas Securities LLC purchased a new position in shares of Resources Connection in the third quarter worth approximately $153,000. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Resources Connection by 58.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,130 shares of the business services provider’s stock worth $155,000 after buying an additional 4,120 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Resources Connection in the third quarter worth approximately $164,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Resources Connection by 44.0% in the second quarter. BNP Paribas Arbitrage SA now owns 12,303 shares of the business services provider’s stock worth $169,000 after buying an additional 3,761 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Resources Connection in the third quarter worth approximately $171,000. 77.77% of the stock is currently owned by institutional investors.

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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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