PRGX Global’s (PRGX) Buy Rating Reaffirmed at Barrington Research

Barrington Research reissued their buy rating on shares of PRGX Global (NASDAQ:PRGX) in a report published on Thursday, AnalystRatings.com reports. They currently have a $7.00 price objective on the business services provider’s stock.

Separately, Zacks Investment Research raised PRGX Global from a strong sell rating to a hold rating in a report on Wednesday, January 1st. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of Buy and an average target price of $9.50.

NASDAQ:PRGX traded down $0.07 during mid-day trading on Thursday, hitting $4.22. 41,599 shares of the company traded hands, compared to its average volume of 59,574. The stock’s fifty day moving average price is $4.32 and its 200-day moving average price is $4.90. PRGX Global has a one year low of $3.78 and a one year high of $9.68. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.75. The firm has a market cap of $91.05 million, a price-to-earnings ratio of -60.28, a price-to-earnings-growth ratio of 1.18 and a beta of 0.62.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zebra Capital Management LLC bought a new position in shares of PRGX Global in the third quarter worth about $71,000. BlackRock Inc. boosted its stake in shares of PRGX Global by 0.3% in the second quarter. BlackRock Inc. now owns 1,658,623 shares of the business services provider’s stock worth $11,146,000 after acquiring an additional 5,683 shares during the period. California Public Employees Retirement System boosted its stake in shares of PRGX Global by 5.8% in the third quarter. California Public Employees Retirement System now owns 96,607 shares of the business services provider’s stock worth $498,000 after acquiring an additional 5,300 shares during the period. Northern Trust Corp boosted its stake in shares of PRGX Global by 1.3% in the second quarter. Northern Trust Corp now owns 245,693 shares of the business services provider’s stock worth $1,651,000 after acquiring an additional 3,138 shares during the period. Finally, Trellus Management Company LLC bought a new position in shares of PRGX Global in the third quarter worth about $796,000. 73.43% of the stock is owned by hedge funds and other institutional investors.

PRGX Global Company Profile

PRGX Global, Inc, together with its subsidiaries, provides recovery audit services to businesses and government agencies having payment transactions and procurement environments worldwide. Its recovery audit services are based on the mining of clients' purchasing-related data for overpayments to the third-party suppliers.

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