Resources Connection (NASDAQ:RECN) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other equities analysts have also commented on the company. Robert W. Baird reissued a “hold” rating and set a $15.00 price objective on shares of Resources Connection in a research report on Friday, November 10th. Zacks Investment Research lowered Resources Connection from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, Deutsche Bank reaffirmed a “sell” rating and issued a $13.00 price target (up previously from $12.00) on shares of Resources Connection in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Resources Connection presently has a consensus rating of “Hold” and an average target price of $15.00.

Shares of Resources Connection (RECN) traded down $0.20 during trading on Tuesday, reaching $15.30. The company’s stock had a trading volume of 36,800 shares, compared to its average volume of 132,600. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.82 and a quick ratio of 2.82. The stock has a market capitalization of $466.98, a price-to-earnings ratio of 26.27 and a beta of 1.18. Resources Connection has a fifty-two week low of $12.05 and a fifty-two week high of $19.80.

Resources Connection (NASDAQ:RECN) last announced its quarterly earnings data on Wednesday, October 4th. The business services provider reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $141.20 million during the quarter, compared to analyst estimates of $140.29 million. Resources Connection had a return on equity of 8.08% and a net margin of 2.60%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 earnings per share. equities analysts expect that Resources Connection will post 0.67 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of RECN. Aperio Group LLC purchased a new position in shares of Resources Connection in the 2nd quarter worth about $171,000. Strs Ohio raised its position in shares of Resources Connection by 18.3% in the 2nd quarter. Strs Ohio now owns 50,500 shares of the business services provider’s stock worth $691,000 after purchasing an additional 7,800 shares during the last quarter. Texas Permanent School Fund raised its position in shares of Resources Connection by 0.6% in the 2nd quarter. Texas Permanent School Fund now owns 21,651 shares of the business services provider’s stock worth $297,000 after purchasing an additional 130 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Resources Connection by 9.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 316,795 shares of the business services provider’s stock worth $4,341,000 after purchasing an additional 27,113 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Resources Connection by 8.4% in the 2nd quarter. Legal & General Group Plc now owns 57,174 shares of the business services provider’s stock worth $783,000 after purchasing an additional 4,451 shares during the last quarter. 80.99% of the stock is owned by hedge funds and other institutional investors.

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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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