RCM Technologies (NASDAQ:RCMT) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of RCM Technologies (NASDAQ:RCMT) from a hold rating to a buy rating in a report published on Tuesday.

Several other equities research analysts have also weighed in on RCMT. B. Riley upgraded RCM Technologies to a “strong-buy” rating in a research report on Tuesday, March 18th. Benchmark reduced their target price on shares of RCM Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, March 21st.

RCM Technologies Stock Down 0.5 %

Shares of RCM Technologies stock opened at $16.06 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.06. RCM Technologies has a 12-month low of $13.18 and a 12-month high of $26.37. The company has a market cap of $121.88 million, a P/E ratio of 8.24 and a beta of 0.21. The company’s fifty day simple moving average is $17.35 and its two-hundred day simple moving average is $20.15.

RCM Technologies (NASDAQ:RCMT) last released its quarterly earnings results on Wednesday, March 12th. The business services provider reported $0.37 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $79.00 million.

Institutional Trading of RCM Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in RCMT. BNP Paribas Financial Markets bought a new stake in RCM Technologies in the third quarter worth $48,000. Barclays PLC purchased a new stake in RCM Technologies during the 3rd quarter valued at about $180,000. JPMorgan Chase & Co. raised its holdings in RCM Technologies by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 11,539 shares of the business services provider’s stock worth $234,000 after buying an additional 1,639 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in RCM Technologies during the 4th quarter valued at $258,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in RCM Technologies in the 4th quarter worth about $259,000. Hedge funds and other institutional investors own 43.20% of the company’s stock.

RCM Technologies Company Profile

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.