RCM Technologies (NASDAQ:RCMT) Rating Increased to Buy at Wall Street Zen

RCM Technologies (NASDAQ:RCMT) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

RCMT has been the topic of a number of other research reports. Zacks Research downgraded shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of RCM Technologies in a research report on Friday, March 27th. Finally, Benchmark lifted their target price on shares of RCM Technologies from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.00.

RCM Technologies Stock Performance

Shares of RCMT stock opened at $28.50 on Friday. The business’s 50 day simple moving average is $26.37 and its 200 day simple moving average is $22.83. RCM Technologies has a one year low of $17.26 and a one year high of $32.50. The stock has a market capitalization of $202.06 million, a PE ratio of 13.44 and a beta of 0.29. 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 released its earnings results on Friday, April 3rd. The business services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $84.46 million. As a group, research analysts forecast that RCM Technologies will post 2.23 earnings per share for the current 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 completion of the sale, the chief financial officer owned 439,066 shares in the company, valued at approximately $14,050,112. The trade was a 1.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Bradley Vizi sold 8,237 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $27.52, for a total transaction of $226,682.24. Following the sale, the chairman owned 1,489,240 shares of the company’s stock, valued at $40,983,884.80. This trade represents a 0.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 36,437 shares of company stock valued at $1,068,434. 28.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RCMT. Punch & Associates Investment Management Inc. increased its holdings in RCM Technologies by 40.0% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider’s stock worth $2,782,000 after purchasing an additional 38,872 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its stake in shares of RCM Technologies by 40.7% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 258,231 shares of the business services provider’s stock worth $5,280,000 after purchasing an additional 74,760 shares during the last quarter. Meros Investment Management LP raised its stake in shares of RCM Technologies by 69.0% in the fourth quarter. Meros Investment Management LP now owns 65,951 shares of the business services provider’s stock worth $1,348,000 after purchasing an additional 26,924 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of RCM Technologies by 3.6% in the first quarter. Renaissance Technologies LLC now owns 434,877 shares of the business services provider’s stock valued at $8,324,000 after purchasing an additional 15,304 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of RCM Technologies by 209.9% in the first quarter. Sei Investments Co. now owns 126,872 shares of the business services provider’s stock valued at $2,428,000 after purchasing an additional 85,936 shares in the last quarter. 43.20% of the stock is currently owned by institutional investors and hedge funds.

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.