RCM Technologies (NASDAQ:RCMT) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Zacks Research upgraded RCM Technologies to “Strong Buy” from “Hold,” while the stock has a consensus “Buy” rating and a $45 price target from analysts.
• RCM Technologies reported quarterly EPS of $0.82, beating the $0.62 consensus estimate, while revenue of $93.82 million exceeded expectations of $81.75 million.
• Shares opened at $42.00, near their 52-week high of $42.07. Insiders sold approximately $8.1 million of stock over the past 90 days, while institutional investors own 43.2% of the company.

RCM Technologies (NASDAQ:RCMT - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

RCMT has been the topic of several other reports. Benchmark lifted their target price on 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 upped their price target on RCM Technologies from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, August 17th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of RCM Technologies in a report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of RCM Technologies from a "hold" rating to a "strong-buy" rating in a research report on Sunday, August 16th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $45.00.

RCM Technologies Price Performance

Shares of RCMT opened at $42.00 on Monday. RCM Technologies has a fifty-two week low of $17.26 and a fifty-two week high of $42.07. The company has a market capitalization of $298.62 million, a price-to-earnings ratio of 18.26 and a beta of 0.29. The firm has a 50-day simple moving average of $29.96 and a 200-day simple moving average of $25.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.92 and a current ratio of 1.92.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $93.82 million for the quarter, compared to analyst estimates of $81.75 million. RCM Technologies had a return on equity of 37.92% and a net margin of 5.13%. On average, equities research analysts anticipate that RCM Technologies will post 2.6 earnings per share for the current year.

Insider Activity at RCM Technologies

In other RCM Technologies news, insider Michael Saks sold 706 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $41.12, for a total transaction of $29,030.72. Following the transaction, the insider owned 88,601 shares in the company, valued at approximately $3,643,273.12. The trade was a 0.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kevin D. Miller sold 4,413 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $42.00, for a total value of $185,346.00. Following the transaction, the chief financial officer directly owned 333,949 shares of the company's stock, valued at approximately $14,025,858. This trade represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 216,911 shares of company stock worth $8,109,137 over the last 90 days. Company insiders own 28.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC lifted its holdings in RCM Technologies by 41.2% in the first quarter. Jane Street Group LLC now owns 23,489 shares of the business services provider's stock valued at $366,000 after acquiring an additional 6,852 shares during the period. Geode Capital Management LLC grew its stake in shares of RCM Technologies by 78.9% during the 2nd quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider's stock worth $2,838,000 after purchasing an additional 53,094 shares during the period. JPMorgan Chase & Co. grew its stake in shares of RCM Technologies by 1,241.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider's stock worth $55,000 after purchasing an additional 2,147 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of RCM Technologies by 264.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider's stock valued at $1,164,000 after purchasing an additional 35,835 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new position in shares of RCM Technologies in the 2nd quarter valued at about $101,000. Institutional investors and hedge funds 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.

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