Resources Connection (NASDAQ:RECN) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday.
A number of other analysts have also issued reports on the company. Zacks Investment Research raised Resources Connection from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Tuesday, January 9th. TheStreet raised Resources Connection from a “c+” rating to a “b” rating in a research note on Thursday, January 4th. JPMorgan Chase & Co. lowered Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 price target on the stock. in a research note on Thursday, January 4th. Robert W. Baird reissued a “hold” rating and issued a $15.00 price target on shares of Resources Connection in a research note on Friday, November 10th. Finally, Deutsche Bank reissued a “sell” rating and issued a $13.00 price target (up from $12.00) on shares of Resources Connection in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $15.50.
Shares of Resources Connection (NASDAQ RECN) opened at $16.35 on Friday. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.19. Resources Connection has a 52 week low of $12.05 and a 52 week high of $17.55. The stock has a market capitalization of $508.27, a PE ratio of 28.19 and a beta of 1.18.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Resources Connection in the 3rd quarter valued at about $153,000. Municipal Employees Retirement System of Michigan lifted its stake in shares of Resources Connection by 58.8% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 11,130 shares of the business services provider’s stock valued at $155,000 after purchasing an additional 4,120 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Resources Connection in the 3rd quarter valued at about $164,000. BNP Paribas Arbitrage SA lifted its stake in shares of Resources Connection by 44.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,303 shares of the business services provider’s stock valued at $169,000 after purchasing an additional 3,761 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Resources Connection in the 3rd quarter valued at about $171,000. 77.77% of the stock is currently owned by institutional investors and hedge funds.
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Resources Connection Company Profile
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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