Resources Connection Inc. (RECN) Given a $12.00 Price Target by Deutsche Bank AG Analysts
Resources Connection Inc. (NASDAQ:RECN) has been given a $12.00 target price by Deutsche Bank AG in a report issued on Thursday. The firm presently has a a “sell” rating on the stock. Deutsche Bank AG’s price objective would indicate a potential downside of 8.26% from the company’s current price.
Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Resources Connection from a “sell” rating to a “hold” rating in a research report on Thursday, June 9th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Resources Connection in a research note on Thursday. Finally, Robert W. Baird lowered Resources Connection from an “outperform” rating to a “neutral” rating in a research note on Thursday.
Shares of Resources Connection (NASDAQ:RECN) traded up 0.038% during mid-day trading on Thursday, reaching $13.085. 271,845 shares of the company’s stock were exchanged. The stock has a market cap of $474.27 million, a price-to-earnings ratio of 16.154 and a beta of 1.31. Resources Connection has a 52 week low of $12.30 and a 52 week high of $18.71. The stock has a 50 day moving average price of $14.75 and a 200 day moving average price of $14.87.
Resources Connection (NASDAQ:RECN) last posted its quarterly earnings data on Wednesday, October 5th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $143.40 million for the quarter. Resources Connection had a return on equity of 8.42% and a net margin of 4.88%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS. Equities research analysts predict that Resources Connection will post $0.82 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 24th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.36%. This is a positive change from Resources Connection’s previous quarterly dividend of $0.10. The ex-dividend date was Monday, August 22nd. Resources Connection’s dividend payout ratio (DPR) is presently 57.14%.
Hedge funds have recently modified their holdings of the company. Springbok Capital Management LLC raised its position in Resources Connection by 65.2% in the first quarter. Springbok Capital Management LLC now owns 13,300 shares of the company’s stock valued at $207,000 after buying an additional 5,248 shares in the last quarter. JPMorgan Chase & Co. raised its position in Resources Connection by 11.2% in the first quarter. JPMorgan Chase & Co. now owns 287,890 shares of the company’s stock valued at $4,479,000 after buying an additional 28,946 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Resources Connection during the first quarter valued at $733,000. Alambic Investment Management L.P. raised its position in Resources Connection by 37.7% in the second quarter. Alambic Investment Management L.P. now owns 76,623 shares of the company’s stock valued at $1,132,000 after buying an additional 20,983 shares in the last quarter. Finally, Brandes Investment Partners LP raised its position in Resources Connection by 45.1% in the second quarter. Brandes Investment Partners LP now owns 135,628 shares of the company’s stock valued at $2,005,000 after buying an additional 42,188 shares in the last quarter. 87.39% of the stock is currently owned by hedge funds and other institutional investors.
Resources Connection Company Profile
Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). It provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management; healthcare solutions, and legal and regulatory.
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