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

StockNews.com upgraded shares of RCM Technologies (NASDAQ:RCMT) from a hold rating to a buy rating in a research note released on Tuesday morning.

RCMT has been the topic of a number of other research reports. Benchmark dropped their price objective on RCM Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. B. Riley upgraded shares of RCM Technologies to a “strong-buy” rating in a report on Tuesday, March 18th.

RCM Technologies Stock Performance

Shares of RCMT stock opened at $16.06 on Tuesday. The firm has a market cap of $121.88 million, a PE ratio of 8.24 and a beta of 0.21. RCM Technologies has a 12 month low of $13.18 and a 12 month high of $26.37. The company’s fifty day simple moving average is $17.19 and its 200-day simple moving average is $20.09. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.06.

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 analysts’ consensus estimates of $0.74 by ($0.37). The business had revenue of $76.91 million for the quarter, compared to analyst estimates 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

Hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new stake in RCM Technologies in the 3rd quarter valued at $265,000. State Street Corp raised its position in shares of RCM Technologies by 6.7% in the third quarter. State Street Corp now owns 25,555 shares of the business services provider’s stock valued at $518,000 after purchasing an additional 1,600 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of RCM Technologies during the 3rd quarter worth about $48,000. Pacific Ridge Capital Partners LLC acquired a new position in RCM Technologies in the 4th quarter valued at about $2,668,000. Finally, JPMorgan Chase & Co. raised its holdings in RCM Technologies by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,539 shares of the business services provider’s stock valued at $234,000 after acquiring an additional 1,639 shares during the period. 43.20% of the stock is owned by institutional investors and hedge funds.

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.