Benchmark Cuts RCM Technologies (NASDAQ:RCMT) Price Target to $30.00

RCM Technologies (NASDAQ:RCMT) had its price target cut by analysts at Benchmark from $37.00 to $30.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Benchmark’s target price would suggest a potential upside of 91.51% from the company’s current price.

Separately, B. Riley upgraded shares of RCM Technologies to a “strong-buy” rating in a research note on Tuesday.

RCM Technologies Trading Up 4.8 %

NASDAQ:RCMT opened at $15.67 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market cap of $119.01 million, a P/E ratio of 8.03 and a beta of 0.58. The firm has a 50-day simple moving average of $18.91 and a 200-day simple moving average of $20.69. RCM Technologies has a one year low of $13.18 and a one year high of $26.37.

RCM Technologies (NASDAQ:RCMT) last posted its quarterly earnings data on Wednesday, March 12th. The business services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.37). The firm had revenue of $76.91 million for the quarter, compared to the consensus estimate of $79.00 million. RCM Technologies had a return on equity of 58.70% and a net margin of 5.77%.

Institutional Trading of RCM Technologies

Several large investors have recently bought and sold shares of RCMT. BNP Paribas Financial Markets purchased a new stake in RCM Technologies during the 3rd quarter worth approximately $48,000. Barclays PLC purchased a new stake in RCM Technologies during the 3rd quarter worth approximately $180,000. JPMorgan Chase & Co. grew its position in RCM Technologies by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,539 shares of the business services provider’s stock worth $234,000 after purchasing an additional 1,639 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in RCM Technologies during the 4th quarter worth approximately $258,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in RCM Technologies during the 4th quarter worth approximately $259,000. Hedge funds and other institutional investors own 43.20% of the company’s stock.

RCM Technologies Company Profile

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.