Robert W. Baird Reiterates Hold Rating for Resources Connection, Inc. (RECN)
Resources Connection, Inc. (NASDAQ:RECN)‘s stock had its “hold” rating reissued by analysts at Robert W. Baird in a research report issued to clients and investors on Friday. They presently have a $15.00 price target on the business services provider’s stock. Robert W. Baird’s target price would suggest a potential downside of 3.54% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the company. Deutsche Bank AG lowered their price target on Resources Connection from $14.00 to $12.00 and set a “sell” rating for the company in a report on Friday, July 21st. Zacks Investment Research upgraded Resources Connection from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Finally, BidaskClub downgraded Resources Connection from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Resources Connection presently has an average rating of “Hold” and an average target price of $15.00.
Shares of Resources Connection (RECN) remained flat at $$15.55 during midday trading on Friday. 78,700 shares of the company traded hands, compared to its average volume of 94,738. Resources Connection has a 12-month low of $12.05 and a 12-month high of $19.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.82 and a current ratio of 2.82. The firm has a market capitalization of $468.49, a P/E ratio of 26.36 and a beta of 1.19.
Resources Connection (NASDAQ:RECN) last issued its quarterly earnings results on Wednesday, October 4th. The business services provider reported $0.12 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.12. Resources Connection had a return on equity of 8.08% and a net margin of 2.60%. The business had revenue of $141.20 million during the quarter, compared to the consensus estimate of $140.29 million. During the same period in the previous year, the business earned $0.15 EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. research analysts anticipate that Resources Connection will post 0.67 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new position in Resources Connection during the 1st quarter valued at approximately $116,000. Tudor Investment Corp ET AL acquired a new position in Resources Connection during the 1st quarter valued at approximately $173,000. SG Americas Securities LLC acquired a new position in Resources Connection during the 3rd quarter valued at approximately $153,000. Municipal Employees Retirement System of Michigan boosted its position in Resources Connection by 58.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 11,130 shares of the business services provider’s stock valued at $155,000 after purchasing an additional 4,120 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Resources Connection by 44.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,303 shares of the business services provider’s stock valued at $169,000 after purchasing an additional 3,761 shares during the period. Institutional investors and hedge funds own 82.30% of the company’s stock.
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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