RCM Technologies (NASDAQ:RCMT) Upgraded by StockNews.com to “Buy” Rating

RCM Technologies (NASDAQ:RCMT) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Several other brokerages have also issued reports on RCMT. Benchmark dropped their price objective on RCM Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, March 21st. B. Riley upgraded RCM Technologies to a “strong-buy” rating in a research note on Tuesday, March 18th.

RCM Technologies Stock Down 0.5 %

Shares of NASDAQ RCMT traded down $0.08 during midday trading on Tuesday, hitting $16.06. 15,376 shares of the company’s stock were exchanged, compared to its average volume of 45,726. The firm’s fifty day simple moving average is $17.35 and its 200-day simple moving average is $20.15. The company has a market cap of $121.88 million, a PE ratio of 8.24 and a beta of 0.21. RCM Technologies has a twelve month low of $13.18 and a twelve month high of $26.37. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.63 and a quick ratio of 1.63.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Barclays PLC increased its position in RCM Technologies by 17.1% in the 4th quarter. Barclays PLC now owns 10,405 shares of the business services provider’s stock valued at $231,000 after acquiring an additional 1,517 shares during the period. State Street Corp grew its stake in shares of RCM Technologies by 6.7% in the 3rd 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 last quarter. JPMorgan Chase & Co. increased its holdings in shares of RCM Technologies by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 11,539 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 1,639 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of RCM Technologies during the third quarter worth approximately $48,000. Finally, Two Sigma Investments LP grew its position in RCM Technologies by 10.0% in the 4th quarter. Two Sigma Investments LP now owns 58,228 shares of the business services provider’s stock valued at $1,290,000 after buying an additional 5,304 shares during the last quarter. 43.20% of the stock is currently owned by institutional investors and hedge funds.

About RCM Technologies

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.