Resources Connection (NASDAQ:RGP) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Resources Connection from “Sell” to “Hold,” aligning with the company’s overall MarketBeat analyst consensus rating of “Hold.”
• RGP opened at $3.89, with a 52-week range of $3.06 to $5.36 and a market capitalization of approximately $134.98 million.
• The company slightly exceeded quarterly EPS expectations, reporting a loss of $0.07 per share versus the anticipated $0.08 loss, while revenue of $106.11 million fell modestly short of estimates.

Resources Connection (NASDAQ:RGP - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

Several other research firms have also recently issued reports on RGP. Zacks Research upgraded Resources Connection from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Resources Connection in a report on Friday, September 11th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold".

Resources Connection Stock Performance

RGP stock opened at $3.89 on Friday. Resources Connection has a one year low of $3.06 and a one year high of $5.36. The stock has a market capitalization of $134.98 million, a PE ratio of -3.24 and a beta of 0.56. The company has a fifty day moving average of $4.12 and a 200-day moving average of $4.17.

Resources Connection (NASDAQ:RGP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01. The business had revenue of $106.11 million for the quarter, compared to analyst estimates of $106.76 million. Resources Connection had a negative net margin of 8.98% and a negative return on equity of 4.63%. Equities analysts forecast that Resources Connection will post -0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Resources Connection

Several institutional investors have recently modified their holdings of RGP. Tieton Capital Management LLC purchased a new position in Resources Connection in the 2nd quarter valued at approximately $11,975,000. Brandes Investment Partners LP boosted its position in Resources Connection by 3.1% during the fourth quarter. Brandes Investment Partners LP now owns 1,442,645 shares of the company's stock worth $7,271,000 after purchasing an additional 43,369 shares in the last quarter. Circumference Group LLC boosted its position in Resources Connection by 7.8% during the fourth quarter. Circumference Group LLC now owns 1,389,243 shares of the company's stock worth $7,002,000 after purchasing an additional 100,000 shares in the last quarter. Sei Investments Co. boosted its position in Resources Connection by 111.5% during the first quarter. Sei Investments Co. now owns 1,329,568 shares of the company's stock worth $4,959,000 after purchasing an additional 700,943 shares in the last quarter. Finally, BlackRock Inc. acquired a new stake in Resources Connection in the second quarter valued at $4,825,000. Hedge funds and other institutional investors own 93.23% of the company's stock.

Resources Connection Company Profile

Resources Connection, Inc NASDAQ: RGP is a professional services and consulting company that helps organizations manage business-critical projects, operational changes and workforce needs. The company delivers its services primarily through RGP, its consulting platform, which connects clients with experienced professionals and project teams.

RGP supports a range of corporate functions, including finance and accounting, business transformation, information technology, legal and compliance, human resources, supply chain and risk management.

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