Benchmark Issues Positive Forecast for RCM Technologies (NASDAQ:RCMT) Stock Price

Key Points

• Benchmark raised its target for RCM Technologies from $32.00 to $36.00 and maintained a "buy" rating, implying roughly a 31.1% upside from the recent price.
• Overall analyst sentiment is mixed: MarketBeat shows a consensus rating of Hold (one Buy, two Hold) with the same $36.00 consensus price target.
• RCMT trades around $27.46 with a market cap of about $203.5M and a P/E of 15.9, while institutional investors own 43.2% of the stock and several firms (BNP Paribas, JPMorgan, Bank of America) recently increased positions.

RCM Technologies (NASDAQ:RCMT - Get Free Report) had its target price raised by Benchmark from $32.00 to $36.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the business services provider's stock. Benchmark's price objective indicates a potential upside of 31.10% from the company's current price.

A number of other research analysts have also recently commented on RCMT. Zacks Research raised RCM Technologies from a "strong sell" rating to a "hold" rating in a research report on Monday, January 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of RCM Technologies in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, RCM Technologies presently has an average rating of "Hold" and a consensus price target of $36.00.

RCM Technologies Stock Up 0.8%

RCMT stock opened at $27.46 on Wednesday. RCM Technologies has a 1-year low of $15.20 and a 1-year high of $28.27. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.78. The stock's fifty day simple moving average is $19.44 and its two-hundred day simple moving average is $20.82. The stock has a market cap of $203.51 million, a P/E ratio of 15.91 and a beta of -0.01.

Institutional Trading of RCM Technologies

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its holdings in RCM Technologies by 44.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider's stock worth $45,000 after purchasing an additional 579 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in RCM Technologies during the 3rd quarter worth about $60,000. JPMorgan Chase & Co. lifted its holdings in 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 in the last quarter. Lazard Asset Management LLC purchased a new stake in RCM Technologies during the 2nd quarter worth about $77,000. Finally, Bank of America Corp DE lifted its holdings in RCM Technologies by 28.1% during the 3rd quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider's stock worth $111,000 after purchasing an additional 915 shares in the last quarter. Hedge funds and other 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.

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