RCM Technologies (NASDAQ:RCMT) Stock Rating Upgraded by Wall Street Zen

RCM Technologies (NASDAQ:RCMT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

Several other equities research analysts have also recently commented on RCMT. Zacks Research cut RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RCM Technologies in a report on Friday, March 27th. Finally, Benchmark upped their price target on RCM Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.00.

RCM Technologies Price Performance

Shares of NASDAQ:RCMT opened at $25.66 on Friday. RCM Technologies has a 12 month low of $17.26 and a 12 month high of $32.50. The stock has a market cap of $181.88 million, a price-to-earnings ratio of 12.10 and a beta of 0.34. The stock’s 50 day moving average price is $26.46 and its 200 day moving average price is $22.05. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.92.

RCM Technologies (NASDAQ:RCMT) last announced its earnings results on Friday, April 3rd. The business services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.58 by $0.22. RCM Technologies had a return on equity of 37.76% and a net margin of 5.03%.The firm had revenue of $86.48 million for the quarter, compared to analysts’ expectations of $84.46 million. Equities research analysts anticipate that RCM Technologies will post 2.23 earnings per share for the current fiscal year.

Insider Buying and Selling at RCM Technologies

In other RCM Technologies news, CFO Kevin D. Miller sold 4,734 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $32.00, for a total transaction of $151,488.00. Following the sale, the chief financial officer directly owned 439,066 shares of the company’s stock, valued at $14,050,112. The trade was a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Bradley Vizi sold 13,666 shares of the company’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $27.55, for a total transaction of $376,498.30. Following the completion of the transaction, the chairman directly owned 1,497,477 shares in the company, valued at $41,255,491.35. This trade represents a 0.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,437 shares of company stock worth $1,068,434 in the last ninety days. 28.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RCM Technologies

A number of large investors have recently bought and sold shares of RCMT. BNP Paribas Financial Markets boosted its holdings in RCM Technologies by 44.1% in the second quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock worth $45,000 after purchasing an additional 579 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in RCM Technologies by 1,241.0% in the second quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock worth $55,000 after purchasing an additional 2,147 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in RCM Technologies in the third quarter worth $60,000. Lazard Asset Management LLC bought a new stake in RCM Technologies in the second quarter worth $77,000. Finally, New York State Common Retirement Fund bought a new stake in RCM Technologies in the second quarter worth $101,000. 43.20% of the stock is currently owned by institutional investors.

RCM Technologies Company Profile

RCM Technologies, Inc (NASDAQ: RCMT) is an information technology consulting firm that specializes in delivering secure, enterprise-level technology solutions. The company’s core offerings include IT infrastructure design and integration, data center modernization, cloud migration and management, cybersecurity services, and digital collaboration platforms. RCM Technologies serves clients across federal and commercial markets, tailoring its services to meet the strict security and compliance requirements of government agencies as well as the performance and scalability needs of private-sector organizations.

Founded in the mid-1980s and headquartered in Dresher, Pennsylvania, RCM Technologies has built a reputation for end-to-end project delivery, from initial assessment and design through implementation and ongoing managed support.