RCM Technologies (NASDAQ:RCMT) Raised to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded RCM Technologies from "hold" to "strong‑buy". Benchmark also raised its price target to $36 and the consensus rating is "Buy" with an average price target of $36.
• Shares opened at $28.52 with a market capitalization of $200.2M and a P/E of 13.33, trading near a 12‑month high of $29.31 and well above the 50‑ and 200‑day moving averages (≈$20.2).
• Chairman Bradley Vizi sold 13,666 shares under a pre‑arranged Rule 10b5‑1 plan for about $376k, a 0.9% reduction in his stake; insiders own 28.0% of the stock while institutional investors hold 43.2%.

RCM Technologies (NASDAQ:RCMT - Get Free Report) was upgraded by equities research 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.

Several other equities research analysts have also recently weighed in on the stock. Wall Street Zen upgraded shares of RCM Technologies from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Weiss Ratings restated a "hold (c)" rating on shares of RCM Technologies in a research note on Friday, March 27th. Finally, Benchmark boosted their price target on RCM Technologies from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, RCM Technologies currently has a consensus rating of "Buy" and an average price target of $36.00.

RCM Technologies Stock Up 0.6%

Shares of RCM Technologies stock opened at $28.52 on Monday. The stock has a market capitalization of $200.21 million, a P/E ratio of 13.33 and a beta of -0.01. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average price of $20.19 and a two-hundred day moving average price of $20.85. RCM Technologies has a 12-month low of $15.29 and a 12-month high of $29.31.

Insider Buying and Selling

In other RCM Technologies news, Chairman Bradley Vizi sold 13,666 shares of the firm's stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $27.55, for a total transaction of $376,498.30. Following the completion of the transaction, the chairman owned 1,497,477 shares in the company, valued at $41,255,491.35. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 28.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On RCM Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Punch & Associates Investment Management Inc. lifted its holdings in shares of RCM Technologies by 40.0% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider's stock valued at $2,782,000 after acquiring an additional 38,872 shares during the period. Meros Investment Management LP raised its stake in shares of RCM Technologies by 69.0% in the fourth quarter. Meros Investment Management LP now owns 65,951 shares of the business services provider's stock valued at $1,348,000 after acquiring an additional 26,924 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of RCM Technologies in the fourth quarter valued at approximately $257,000. Barclays PLC raised its stake in shares of RCM Technologies by 21.1% in the fourth quarter. Barclays PLC now owns 12,717 shares of the business services provider's stock valued at $260,000 after acquiring an additional 2,216 shares during the last quarter. Finally, State Street Corp raised its stake in shares of RCM Technologies by 3.8% in the fourth quarter. State Street Corp now owns 69,987 shares of the business services provider's stock valued at $1,431,000 after acquiring an additional 2,562 shares during the last quarter. 43.20% of the stock is owned by institutional investors and hedge funds.

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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