Resources Connection, Inc. (RECN) Stock Rating Reaffirmed by Robert W. Baird
Resources Connection, Inc. (NASDAQ:RECN)‘s stock had its “hold” rating restated by analysts at Robert W. Baird in a research report issued on Friday. They currently have a $15.00 price objective on the business services provider’s stock. Robert W. Baird’s price target would indicate a potential upside of 21.95% from the company’s current price.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Resources Connection from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. BidaskClub downgraded shares of Resources Connection from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. TheStreet downgraded shares of Resources Connection from a “b-” rating to a “c+” rating in a report on Friday, May 26th. Finally, Deutsche Bank AG cut their price target on shares of Resources Connection from $14.00 to $12.00 and set a “sell” rating on the stock in a report on Friday, July 21st. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Resources Connection has an average rating of “Sell” and a consensus price target of $15.33.
Resources Connection (RECN) traded down 1.8463% during midday trading on Friday, hitting $12.0729. The company had a trading volume of 50,563 shares. Resources Connection has a 52 week low of $12.05 and a 52 week high of $19.80. The firm has a market capitalization of $360.58 million, a P/E ratio of 21.5588 and a beta of 1.20. The firm’s 50 day moving average is $13.25 and its 200-day moving average is $14.34.
Resources Connection (NASDAQ:RECN) last issued its quarterly earnings results on Thursday, July 20th. The business services provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by $0.02. The firm had revenue of $148.60 million for the quarter, compared to the consensus estimate of $148.46 million. Resources Connection had a net margin of 3.20% and a return on equity of 8.08%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 earnings per share. On average, equities research analysts expect that Resources Connection will post $0.70 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in Resources Connection during the first quarter valued at about $116,000. Mason Street Advisors LLC boosted its stake in Resources Connection by 7.7% in the first quarter. Mason Street Advisors LLC now owns 6,950 shares of the business services provider’s stock valued at $116,000 after buying an additional 499 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Resources Connection by 1.2% in the first quarter. BNP Paribas Arbitrage SA now owns 8,542 shares of the business services provider’s stock valued at $143,000 after buying an additional 104 shares during the period. Aperio Group LLC bought a new stake in Resources Connection during the second quarter valued at about $171,000. Finally, Tudor Investment Corp ET AL bought a new stake in Resources Connection during the first quarter valued at about $173,000. 82.19% of the stock is owned by institutional investors.
About Resources Connection
Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.
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