Resources Connection (NASDAQ:RGP) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Resources Connection (NASDAQ:RGP) from a hold rating to a sell rating in a report released on Saturday.

Several other research analysts have also weighed in on RGP. Weiss Ratings raised Resources Connection from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Zacks Research upgraded Resources Connection from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.00.

Resources Connection Stock Up 1.8%

RGP stock opened at $4.45 on Friday. Resources Connection has a 12-month low of $3.06 and a 12-month high of $5.55. The company has a market cap of $153.26 million, a price-to-earnings ratio of -3.71 and a beta of 0.54. The company has a 50 day moving average of $4.40 and a two-hundred day moving average of $4.15.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. Resources Connection had a negative net margin of 8.98% and a negative return on equity of 4.63%. The business had revenue of $106.11 million for the quarter, compared to analysts’ expectations of $106.76 million. On average, research analysts anticipate that Resources Connection will post -0.44 EPS for the current year.

Institutional Investors Weigh In On Resources Connection

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Resources Connection by 5.1% during the third quarter. Vanguard Group Inc. now owns 2,011,147 shares of the company’s stock worth $10,156,000 after buying an additional 97,228 shares during the last quarter. Brandes Investment Partners LP lifted its position in shares of Resources Connection by 3.1% in the fourth quarter. Brandes Investment Partners LP now owns 1,442,645 shares of the company’s stock worth $7,271,000 after buying an additional 43,369 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Resources Connection by 37.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,407,032 shares of the company’s stock worth $7,091,000 after buying an additional 380,769 shares during the last quarter. Circumference Group LLC boosted its stake in shares of Resources Connection by 7.8% during the 4th quarter. Circumference Group LLC now owns 1,389,243 shares of the company’s stock worth $7,002,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Resources Connection by 111.5% during the 1st quarter. Sei Investments Co. now owns 1,329,568 shares of the company’s stock valued at $4,959,000 after acquiring an additional 700,943 shares during the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

About Resources Connection

Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.