RCM Technologies (NASDAQ:RCMT) Upgraded to Buy at StockNews.com

RCM Technologies (NASDAQ:RCMT) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

RCM Technologies Stock Down 0.6 %

Shares of RCMT opened at $19.47 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.19. RCM Technologies has a 12-month low of $11.14 and a 12-month high of $32.15. The business’s 50 day moving average is $25.11 and its 200 day moving average is $25.09. The company has a market capitalization of $154.59 million, a PE ratio of 9.78 and a beta of 0.73.

RCM Technologies (NASDAQ:RCMT) last released its quarterly earnings data on Wednesday, March 13th. The business services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $71.03 million for the quarter, compared to the consensus estimate of $72.47 million. RCM Technologies had a return on equity of 71.41% and a net margin of 6.39%. Research analysts expect that RCM Technologies will post 2.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RCM Technologies

Several large investors have recently modified their holdings of RCMT. Citigroup Inc. bought a new position in shares of RCM Technologies during the 1st quarter valued at approximately $26,000. Qube Research & Technologies Ltd bought a new position in shares of RCM Technologies during the 3rd quarter valued at approximately $29,000. Tucker Asset Management LLC increased its position in shares of RCM Technologies by 150.0% during the 4th quarter. Tucker Asset Management LLC now owns 1,250 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 750 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of RCM Technologies during the 3rd quarter valued at approximately $48,000. Finally, JPMorgan Chase & Co. purchased a new position in RCM Technologies during the 2nd quarter valued at $52,000. Institutional investors own 43.20% of the company’s stock.

About RCM Technologies

RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Europe. It operates through three segments: Engineering, Specialty Health Care, and Life Sciences and Information Technology. The Engineering segment offers a range of engineering services, including project management engineering and design, engineering analysis, engineer-procure-construct, configuration management, hardware/software validation and verification, quality assurance, technical writing and publications, manufacturing process planning and improvement, and 3D/BIM integrated design.