Wall Street Zen Downgrades RCM Technologies (NASDAQ:RCMT) to Buy

RCM Technologies (NASDAQ:RCMT) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of RCM Technologies in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $33.50.

RCM Technologies Stock Down 3.3%

Shares of RCMT opened at $23.11 on Friday. The firm has a market cap of $171.27 million, a PE ratio of 13.13 and a beta of 0.18. The company’s fifty day moving average is $25.67 and its two-hundred day moving average is $22.83. RCM Technologies has a fifty-two week low of $13.18 and a fifty-two week high of $28.27. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.92.

Insiders Place Their Bets

In other RCM Technologies news, Chairman Bradley Vizi sold 7,289 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $27.51, for a total value of $200,520.39. Following the transaction, the chairman owned 1,531,951 shares in the company, valued at $42,143,972.01. The trade was a 0.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Saks sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $27.50, for a total transaction of $137,500.00. Following the completion of the sale, the insider directly owned 109,547 shares of the company’s stock, valued at $3,012,542.50. The trade was a 4.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,067 shares of company stock worth $909,503 in the last quarter. 26.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RCM Technologies

Several hedge funds and other institutional investors have recently modified their holdings of RCMT. BNP Paribas Financial Markets boosted 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 valued at $45,000 after purchasing an additional 579 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in RCM Technologies by 4.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,518 shares of the business services provider’s stock valued at $413,000 after purchasing an additional 676 shares during the period. Boston Partners boosted its stake in RCM Technologies by 4.2% during the 1st quarter. Boston Partners now owns 25,521 shares of the business services provider’s stock valued at $398,000 after purchasing an additional 1,023 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new position in RCM Technologies during the 2nd quarter valued at about $29,000. Finally, Ballast Asset Management LP boosted its stake in RCM Technologies by 1.0% during the 2nd quarter. Ballast Asset Management LP now owns 138,511 shares of the business services provider’s stock valued at $3,265,000 after purchasing an additional 1,346 shares during the period. Institutional investors own 43.20% of the company’s stock.

RCM Technologies Company Profile

RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Europe. It operates through three segments: Engineering, Specialty Health Care, and Life Sciences and Information Technology. The Engineering segment offers a range of engineering services, including project management engineering and design, engineering analysis, engineer-procure-construct, configuration management, hardware/software validation and verification, quality assurance, technical writing and publications, manufacturing process planning and improvement, and 3D/BIM integrated design.