RCM Technologies (NASDAQ:RCMT) Rating Lowered to "Hold" at StockNews.com

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

A number of other research analysts have also recently weighed in on RCMT. Benchmark cut their price objective on shares of RCM Technologies from $37.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. B. Riley upgraded shares of RCM Technologies to a "strong-buy" rating in a research report on Tuesday, March 18th.

RCM Technologies Price Performance

RCMT traded up $0.03 during trading hours on Wednesday, hitting $17.04. The company's stock had a trading volume of 24,014 shares, compared to its average volume of 44,541. The business's 50-day moving average price is $16.73 and its 200-day moving average price is $19.90. RCM Technologies has a 12 month low of $13.18 and a 12 month high of $26.37. The stock has a market cap of $129.32 million, a price-to-earnings ratio of 8.74 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.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RCMT. State Street Corp grew its holdings in shares of RCM Technologies by 6.7% in the third quarter. State Street Corp now owns 25,555 shares of the business services provider's stock worth $518,000 after purchasing an additional 1,600 shares during the last quarter. Barclays PLC bought a new position in shares of RCM Technologies in the third quarter worth about $180,000. Sanctuary Advisors LLC bought a new position in shares of RCM Technologies in the third quarter worth about $265,000. JPMorgan Chase & Co. grew its holdings in shares of RCM Technologies by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 11,539 shares of the business services provider's stock worth $234,000 after purchasing an additional 1,639 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. grew its holdings in shares of RCM Technologies by 60.5% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 20,881 shares of the business services provider's stock worth $463,000 after purchasing an additional 7,869 shares during the last quarter. 43.20% of the stock is currently owned by 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.