Resources Connection, Inc. (NASDAQ:RECN) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Friday.

RECN has been the topic of a number of other research reports. Deutsche Bank AG dropped their price target on Resources Connection from $14.00 to $12.00 and set a “sell” rating on the stock in a research note on Friday, July 21st. Zacks Investment Research downgraded Resources Connection from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, TheStreet downgraded Resources Connection from a “b-” rating to a “c+” rating in a research note on Friday, May 26th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Sell” and a consensus price target of $15.50.

Resources Connection (RECN) traded down 0.41% during midday trading on Friday, hitting $12.20. The company had a trading volume of 146,807 shares. The firm has a 50-day moving average price of $13.48 and a 200-day moving average price of $14.53. The company has a market cap of $364.38 million, a price-to-earnings ratio of 21.79 and a beta of 1.20. Resources Connection has a 12 month low of $12.10 and a 12 month high of $19.80.

Resources Connection (NASDAQ:RECN) last released its quarterly earnings results on Thursday, July 20th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $148.60 million for the quarter, compared to analysts’ expectations of $148.46 million. Resources Connection had a return on equity of 8.08% and a net margin of 3.20%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 EPS. Equities analysts anticipate that Resources Connection will post $0.70 EPS for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new position in Resources Connection during the first quarter worth about $116,000. Mason Street Advisors LLC increased its position in Resources Connection by 7.7% in the first quarter. Mason Street Advisors LLC now owns 6,950 shares of the business services provider’s stock worth $116,000 after buying an additional 499 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Resources Connection by 1.2% in the first quarter. BNP Paribas Arbitrage SA now owns 8,542 shares of the business services provider’s stock worth $143,000 after buying an additional 104 shares in the last quarter. Aperio Group LLC purchased a new position in Resources Connection during the second quarter worth about $171,000. Finally, Tudor Investment Corp ET AL purchased a new position in Resources Connection during the first quarter worth about $173,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

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.

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