Resources Connection (NASDAQ:RGP) Stock Rating Lowered by Wall Street Zen

Resources Connection (NASDAQ:RGP) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings downgraded shares of Resources Connection from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Resources Connection Price Performance

RGP stock opened at $2.81 on Friday. The company has a market capitalization of $97.51 million, a PE ratio of -2.07 and a beta of 0.56. Resources Connection has a 12 month low of $2.71 and a 12 month high of $5.36. The firm’s 50-day moving average is $4.01 and its 200 day moving average is $4.15.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings data on Wednesday, October 7th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. The company had revenue of $98.09 million during the quarter, compared to analyst estimates of $99.98 million. Resources Connection had a negative net margin of 10.74% and a negative return on equity of 8.10%. Sell-side analysts forecast that Resources Connection will post -0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Resources Connection

Hedge funds have recently made changes to their positions in the company. Tieton Capital Management LLC bought a new position in Resources Connection during the 2nd quarter worth about $11,975,000. Circumference Group LLC increased its position in Resources Connection by 7.8% during the 4th quarter. Circumference Group LLC now owns 1,389,243 shares of the company’s stock valued at $7,002,000 after purchasing an additional 100,000 shares during the period. Sei Investments Co. raised its holdings in shares of Resources Connection by 111.5% in the 1st quarter. Sei Investments Co. now owns 1,329,568 shares of the company’s stock valued at $4,959,000 after purchasing an additional 700,943 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Resources Connection in the 2nd quarter valued at about $4,825,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Resources Connection by 10.7% in the 1st quarter. Renaissance Technologies LLC now owns 311,200 shares of the company’s stock valued at $1,161,000 after purchasing an additional 30,000 shares in the last quarter. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

Resources Connection Company Profile

Resources Connection, Inc (NASDAQ:RGP), operating under the RGP brand, is a global consulting services company that helps organizations manage business-critical initiatives and transformation projects. The company provides experienced consultants and project teams to support clients on a flexible, project-based basis.

RGP’s services cover areas including finance and accounting, technology, supply chain and procurement, human resources, legal and compliance, risk management, and business transformation.