Resources Connection (RECN) Stock Rating Upgraded by TheStreet
Resources Connection (NASDAQ:RECN) was upgraded by investment analysts at TheStreet from a “c+” rating to a “b” rating in a report issued on Thursday.
RECN has been the subject of several other reports. Zacks Investment Research raised shares of Resources Connection from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. BidaskClub downgraded shares of Resources Connection from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Deutsche Bank reaffirmed a “sell” rating and issued a $13.00 price target (up from $12.00) on shares of Resources Connection in a research note on Friday, October 6th. Robert W. Baird reaffirmed a “hold” rating and issued a $15.00 price target on shares of Resources Connection in a research note on Friday, October 6th. Finally, JPMorgan Chase & Co. downgraded shares of Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 price target for the company. in a research note on Thursday. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $15.25.
Resources Connection (NASDAQ RECN) opened at $15.75 on Thursday. Resources Connection has a 52 week low of $12.05 and a 52 week high of $17.58. The firm has a market cap of $489.44, a price-to-earnings ratio of 27.16 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.82 and a current ratio of 5.29.
Resources Connection (NASDAQ:RECN) last announced its earnings results on Wednesday, January 3rd. The business services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. Resources Connection had a net margin of 2.98% and a return on equity of 8.25%. The business had revenue of $156.70 million during the quarter, compared to the consensus estimate of $152.91 million. During the same quarter last year, the firm earned $0.26 earnings per share. Resources Connection’s quarterly revenue was up 6.2% on a year-over-year basis. analysts expect that Resources Connection will post 0.67 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of RECN. SG Americas Securities LLC purchased a new position in Resources Connection during the third quarter worth about $153,000. Municipal Employees Retirement System of Michigan boosted its holdings in Resources Connection by 58.8% during 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 purchasing an additional 4,120 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Resources Connection during the third quarter worth about $164,000. BNP Paribas Arbitrage SA boosted its holdings in Resources Connection by 44.0% during the second quarter. BNP Paribas Arbitrage SA now owns 12,303 shares of the business services provider’s stock worth $169,000 after purchasing an additional 3,761 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Resources Connection during the third quarter worth about $171,000. 80.99% of the stock is owned by institutional investors.
WARNING: “Resources Connection (RECN) Stock Rating Upgraded by TheStreet” was first posted by Watch List News and is owned by of Watch List News. If you are viewing this report on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this report can be read at https://www.watchlistnews.com/resources-connection-recn-stock-rating-upgraded-by-thestreet/1797253.html.
About Resources Connection
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.
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.