Zacks Research Upgrades RCM Technologies (NASDAQ:RCMT) to “Strong-Buy”

RCM Technologies (NASDAQ:RCMT) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other brokerages have also recently weighed in on RCMT. Benchmark raised their price objective on shares of RCM Technologies from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of RCM Technologies in a report on Friday, July 17th. B. Riley Financial increased their price objective on RCM Technologies from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Finally, Wall Street Zen raised shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Sunday, August 16th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $45.00.

RCM Technologies Stock Up 2.1%

RCM Technologies stock opened at $42.00 on Monday. RCM Technologies has a fifty-two week low of $17.26 and a fifty-two week high of $42.07. The firm has a market capitalization of $298.62 million, a price-to-earnings ratio of 18.26 and a beta of 0.29. The stock’s fifty day moving average is $29.96 and its two-hundred day moving average is $25.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.92 and a current ratio of 1.92.

RCM Technologies (NASDAQ:RCMT) last released its quarterly earnings data on Thursday, August 13th. The business services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. The business had revenue of $93.82 million for the quarter, compared to analyst estimates of $81.75 million. Analysts predict that RCM Technologies will post 2.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other RCM Technologies news, CFO Kevin D. Miller sold 60,000 shares of RCM Technologies stock in a transaction on Monday, August 17th. The shares were sold at an average price of $37.98, for a total value of $2,278,800.00. Following the transaction, the chief financial officer owned 338,362 shares in the company, valued at $12,850,988.76. This trade represents a 15.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Bradley Vizi sold 74,719 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $38.86, for a total value of $2,903,580.34. Following the sale, the chairman owned 1,402,477 shares of the company’s stock, valued at approximately $54,500,256.22. The trade was a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 216,911 shares of company stock valued at $8,109,137 over the last quarter. Company insiders own 28.00% of the company’s stock.

Hedge Funds Weigh In On RCM Technologies

Large investors have recently modified their holdings of the company. Qube Research & Technologies Ltd grew its stake in shares of RCM Technologies by 5.4% in the third quarter. Qube Research & Technologies Ltd now owns 11,187 shares of the business services provider’s stock valued at $297,000 after buying an additional 576 shares in the last quarter. BNP Paribas Financial Markets lifted its position in RCM Technologies by 44.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock worth $45,000 after acquiring an additional 579 shares in the last quarter. Bank of America Corp DE lifted its position in RCM Technologies by 28.1% during the 3rd quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider’s stock worth $111,000 after acquiring an additional 915 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in RCM Technologies by 3.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 35,735 shares of the business services provider’s stock worth $684,000 after acquiring an additional 1,341 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in RCM Technologies by 570.9% in the 2nd quarter. California State Teachers Retirement System now owns 1,778 shares of the business services provider’s stock worth $50,000 after acquiring an additional 1,513 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 (NASDAQ: RCMT) is an information technology consulting firm that specializes in delivering secure, enterprise-level technology solutions. The company’s core offerings include IT infrastructure design and integration, data center modernization, cloud migration and management, cybersecurity services, and digital collaboration platforms. RCM Technologies serves clients across federal and commercial markets, tailoring its services to meet the strict security and compliance requirements of government agencies as well as the performance and scalability needs of private-sector organizations.

Founded in the mid-1980s and headquartered in Dresher, Pennsylvania, RCM Technologies has built a reputation for end-to-end project delivery, from initial assessment and design through implementation and ongoing managed support.