RCM Technologies (NASDAQ:RCMT) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of RCM Technologies (NASDAQ:RCMT) from a hold rating to a strong-buy rating in a report released on Sunday morning.

Several other analysts have also recently commented on RCMT. Weiss Ratings restated a “hold (c+)” rating on shares of RCM Technologies in a report on Friday, July 17th. Zacks Research lowered shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.00.

RCM Technologies Stock Performance

NASDAQ:RCMT opened at $35.05 on Friday. The stock has a market capitalization of $248.50 million, a P/E ratio of 15.24 and a beta of 0.29. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.48. RCM Technologies has a 1 year low of $17.26 and a 1 year high of $35.49. The firm has a 50 day moving average of $27.73 and a 200-day moving average of $24.56.

RCM Technologies (NASDAQ:RCMT) last released its quarterly earnings results on Thursday, August 13th. The business services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. RCM Technologies had a return on equity of 37.92% and a net margin of 5.13%.The business had revenue of $93.82 million for the quarter, compared to analyst estimates of $81.75 million. As a group, sell-side analysts anticipate that RCM Technologies will post 2.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Sei Investments Co. boosted its holdings in RCM Technologies by 209.9% during the first quarter. Sei Investments Co. now owns 126,872 shares of the business services provider’s stock worth $2,428,000 after buying an additional 85,936 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in shares of RCM Technologies by 40.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 258,231 shares of the business services provider’s stock worth $5,280,000 after buying an additional 74,760 shares during the last quarter. Geode Capital Management LLC increased its position in shares of RCM Technologies by 78.9% in the second quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock valued at $2,838,000 after acquiring an additional 53,094 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its position in RCM Technologies by 40.0% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider’s stock valued at $2,782,000 after purchasing an additional 38,872 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of RCM Technologies by 264.4% in the second quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock valued at $1,164,000 after buying an additional 35,835 shares in the last quarter. 43.20% of the stock is currently owned by institutional investors and hedge funds.

About RCM Technologies

RCM Technologies, Inc (NASDAQ: RCMT) is an information technology consulting firm that specializes in delivering secure, enterprise-level technology solutions. The company’s core offerings include IT infrastructure design and integration, data center modernization, cloud migration and management, cybersecurity services, and digital collaboration platforms. RCM Technologies serves clients across federal and commercial markets, tailoring its services to meet the strict security and compliance requirements of government agencies as well as the performance and scalability needs of private-sector organizations.

Founded in the mid-1980s and headquartered in Dresher, Pennsylvania, RCM Technologies has built a reputation for end-to-end project delivery, from initial assessment and design through implementation and ongoing managed support.