RCM Technologies (NASDAQ:RCMT) Downgraded by Wall Street Zen to “Hold”

RCM Technologies (NASDAQ:RCMT) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Monday.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RCM Technologies in a report on Friday, March 27th. Benchmark boosted 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. Finally, Zacks Research cut RCM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, RCM Technologies currently has an average rating of “Hold” and an average target price of $36.00.

RCM Technologies Price Performance

RCMT opened at $26.38 on Monday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.65. RCM Technologies has a 1-year low of $17.26 and a 1-year high of $32.50. The company has a market capitalization of $187.03 million, a PE ratio of 12.44 and a beta of 0.34. The firm’s 50 day simple moving average is $26.69 and its two-hundred day simple moving average is $22.30.

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

Insider Buying and Selling at RCM Technologies

In related news, Chairman Bradley Vizi sold 8,237 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $27.52, for a total value of $226,682.24. Following the completion of the transaction, the chairman owned 1,489,240 shares of the company’s stock, valued at approximately $40,983,884.80. This represents a 0.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin D. Miller sold 4,734 shares of the stock in a transaction on Monday, April 27th. The stock was sold at an average price of $32.00, for a total value of $151,488.00. Following the completion of the sale, the chief financial officer 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,437 shares of company stock worth $1,068,434 over the last 90 days. Insiders own 28.00% of the company’s stock.

Hedge Funds Weigh In On RCM Technologies

Large investors have recently made changes to their positions in the business. Qube Research & Technologies Ltd boosted its stake in shares of RCM Technologies by 5.4% in the third quarter. Qube Research & Technologies Ltd now owns 11,187 shares of the business services provider’s stock worth $297,000 after acquiring an additional 576 shares during the period. BNP Paribas Financial Markets raised its stake in RCM Technologies by 44.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 579 shares during the period. Bank of America Corp DE raised its stake in RCM Technologies by 28.1% during the 3rd quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 915 shares during the period. Ritholtz Wealth Management lifted its holdings in RCM Technologies by 3.2% in the 4th quarter. Ritholtz Wealth Management now owns 42,724 shares of the business services provider’s stock worth $873,000 after purchasing an additional 1,333 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in RCM Technologies by 3.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 35,735 shares of the business services provider’s stock worth $684,000 after purchasing an additional 1,341 shares in the last quarter. 43.20% of the stock is currently owned by hedge funds and other institutional investors.

About RCM Technologies

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.