Zacks Research Upgrades RCM Technologies (NASDAQ:RCMT) to “Strong-Buy”

RCM Technologies (NASDAQ:RCMT) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Benchmark upped their price objective on shares of RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 17th. B. Riley Financial raised their price target on shares of RCM Technologies from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Weiss Ratings restated a “hold (c+)” rating on shares of RCM Technologies in a report on Friday, July 17th. Finally, Wall Street Zen upgraded RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Sunday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, RCM Technologies presently has a consensus rating of “Buy” and a consensus target price of $45.00.

RCM Technologies Price Performance

RCMT stock opened at $42.00 on Monday. The firm has a 50 day simple moving average of $29.96 and a two-hundred day simple moving average of $25.57. The stock has a market cap of $298.62 million, a PE ratio of 18.26 and a beta of 0.29. RCM Technologies has a one year low of $17.26 and a one year high of $42.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.92 and a quick ratio of 1.92.

RCM Technologies (NASDAQ:RCMT) last posted its quarterly earnings data on Thursday, August 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.20. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. The company had revenue of $93.82 million during the quarter, compared to the consensus estimate of $81.75 million. On average, analysts predict that RCM Technologies will post 2.6 EPS for the current fiscal year.

Insider Activity at RCM Technologies

In other RCM Technologies news, CFO Kevin D. Miller sold 4,413 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $42.00, for a total transaction of $185,346.00. Following the transaction, the chief financial officer owned 333,949 shares in the company, valued at approximately $14,025,858. This represents a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Saks sold 706 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $41.12, for a total value of $29,030.72. Following the completion of the transaction, the insider directly owned 88,601 shares in the company, valued at approximately $3,643,273.12. This represents a 0.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 216,911 shares of company stock valued at $8,109,137 over the last ninety days. Insiders own 28.00% of the company’s stock.

Institutional Trading of RCM Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its position in shares of RCM Technologies by 3.6% during the first quarter. Renaissance Technologies LLC now owns 434,877 shares of the business services provider’s stock worth $8,324,000 after acquiring an additional 15,304 shares during the last quarter. Vanguard Group Inc. grew its holdings in RCM Technologies by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 279,889 shares of the business services provider’s stock valued at $7,431,000 after buying an additional 8,532 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its position 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 valued at $5,280,000 after acquiring an additional 74,760 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of RCM Technologies by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 169,945 shares of the business services provider’s stock worth $3,253,000 after buying an additional 1,774 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its holdings in shares of RCM Technologies by 12.8% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 153,511 shares of the business services provider’s stock worth $2,938,000 after purchasing an additional 17,433 shares during the period. Institutional investors own 43.20% of the company’s stock.

RCM Technologies Company Profile

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.