Resources Connection, Inc. (RECN) Given Average Recommendation of “Hold” by Brokerages

Resources Connection, Inc. (NASDAQ:RECN) has been given a consensus rating of “Hold” by the six analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $14.00.

Several analysts have recently commented on the company. JPMorgan Chase & Co. downgraded Resources Connection from a “neutral” rating to an “underweight” rating in a research note on Thursday. Robert W. Baird restated a “hold” rating and issued a $15.00 target price on shares of Resources Connection in a research note on Friday, November 10th. BidaskClub downgraded Resources Connection from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research downgraded Resources Connection from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Deutsche Bank restated a “sell” rating and issued a $13.00 target price (up from $12.00) on shares of Resources Connection in a research note on Friday, October 6th.

Shares of Resources Connection (RECN) traded down $0.40 on Thursday, hitting $15.25. The stock had a trading volume of 250,600 shares, compared to its average volume of 211,250. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.82 and a current ratio of 2.82. The firm has a market cap of $459.45, a P/E ratio of 26.29 and a beta of 1.18. Resources Connection has a 12 month low of $12.05 and a 12 month high of $19.80.

Resources Connection (NASDAQ:RECN) last issued its earnings results on Wednesday, January 3rd. The business services provider reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.07. The company had revenue of $156.70 million during the quarter, compared to the consensus estimate of $152.91 million. Resources Connection had a return on equity of 8.08% and a net margin of 2.60%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $0.26 EPS. equities research analysts predict that Resources Connection will post 0.67 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, November 15th. This represents a $0.48 dividend on an annualized basis and a yield of 3.15%. Resources Connection’s dividend payout ratio (DPR) is currently 82.76%.

A number of hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System boosted its stake in Resources Connection by 7.1% during the 3rd quarter. California Public Employees Retirement System now owns 176,887 shares of the business services provider’s stock valued at $2,459,000 after purchasing an additional 11,802 shares during the last quarter. Grandeur Peak Global Advisors LLC boosted its stake in Resources Connection by 649.0% during the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 179,000 shares of the business services provider’s stock valued at $2,488,000 after purchasing an additional 155,100 shares during the last quarter. Jane Street Group LLC acquired a new position in Resources Connection during the 3rd quarter valued at about $171,000. Royce & Associates LP boosted its stake in Resources Connection by 6.4% during the 3rd quarter. Royce & Associates LP now owns 2,525,499 shares of the business services provider’s stock valued at $35,104,000 after purchasing an additional 151,760 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in Resources Connection during the 3rd quarter valued at about $188,000. Institutional investors and hedge funds own 80.99% of the company’s stock.

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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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