RCM Technologies (NASDAQ:RCMT) Price Target Raised to $45.00 at Benchmark

RCM Technologies (NASDAQ:RCMT) had its price objective hoisted by research analysts at Benchmark from $36.00 to $45.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Benchmark’s price target would indicate a potential upside of 28.39% from the stock’s current price.

Several other research firms have also recently commented on RCMT. Zacks Research cut RCM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Wall Street Zen raised RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Sunday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of RCM Technologies in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, RCM Technologies has an average rating of “Hold” and an average price target of $45.00.

RCM Technologies Price Performance

Shares of RCMT stock opened at $35.05 on Monday. RCM Technologies has a 1 year low of $17.26 and a 1 year high of $35.49. The firm’s 50 day moving average is $27.73 and its 200-day moving average is $24.56. The firm has a market capitalization of $248.43 million, a price-to-earnings ratio of 15.24 and a beta of 0.29. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.48.

RCM Technologies (NASDAQ:RCMT) last issued its quarterly earnings results on Thursday, August 13th. The business services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $81.75 million. Sell-side analysts forecast that RCM Technologies will post 2.23 EPS for the current fiscal year.

Institutional Trading of RCM Technologies

A number of institutional investors have recently bought and sold shares of the business. Qube Research & Technologies Ltd increased its position in shares of RCM Technologies by 5.4% in the 3rd 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 raised its stake 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 buying an additional 579 shares during the period. Bank of America Corp DE lifted its holdings in RCM Technologies by 28.1% during the third 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 lifted its holdings in RCM Technologies by 3.9% during the first 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 in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in RCM Technologies by 2.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 69,304 shares of the business services provider’s stock valued at $1,417,000 after acquiring an additional 1,674 shares during the period. Institutional investors and hedge funds own 43.20% of the company’s stock.

About RCM Technologies

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.