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

RCM Technologies (NASDAQ:RCMT - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Tuesday.

Several other analysts also recently issued reports on the stock. Benchmark cut 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 note on Friday, March 21st. B. Riley upgraded RCM Technologies to a "strong-buy" rating in a report on Tuesday, March 18th.

RCM Technologies Price Performance

Shares of NASDAQ RCMT traded down $0.12 during mid-day trading on Tuesday, reaching $16.06. The company had a trading volume of 39,498 shares, compared to its average volume of 45,323. RCM Technologies has a 1-year low of $13.18 and a 1-year high of $26.37. The stock has a market cap of $121.88 million, a PE ratio of 8.24 and a beta of 0.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average price of $17.11 and a two-hundred day moving average price of $20.07.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The business services provider reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.37). The firm had revenue of $76.91 million for the quarter, compared to analysts' expectations of $79.00 million. RCM Technologies had a net margin of 5.77% and a return on equity of 58.70%.

Hedge Funds Weigh In On RCM Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new stake in shares of RCM Technologies during the third quarter worth $265,000. State Street Corp grew its stake in shares of RCM Technologies by 6.7% in the 3rd quarter. State Street Corp now owns 25,555 shares of the business services provider's stock valued at $518,000 after buying an additional 1,600 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in RCM Technologies in the third quarter worth approximately $48,000. Pacific Ridge Capital Partners LLC bought a new position in RCM Technologies during the fourth quarter valued at approximately $2,668,000. Finally, JPMorgan Chase & Co. lifted its stake 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 valued at $234,000 after acquiring an additional 1,639 shares during the last quarter. 43.20% of the stock is currently owned by hedge funds and other institutional investors.

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.