StockNews.com Upgrades RCM Technologies (NASDAQ:RCMT) to "Buy"

StockNews.com upgraded shares of RCM Technologies (NASDAQ:RCMT - Free Report) from a hold rating to a buy rating in a research report report published on Thursday morning.

A number of other brokerages have also recently weighed in on RCMT. B. Riley raised shares of RCM Technologies to a "strong-buy" rating in a report on Tuesday, March 18th. 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 report on Friday, March 21st.

RCM Technologies Stock Down 2.1 %

NASDAQ:RCMT traded down $0.37 during mid-day trading on Thursday, reaching $17.22. The stock had a trading volume of 25,785 shares, compared to its average volume of 43,621. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market capitalization of $127.50 million, a price-to-earnings ratio of 8.83 and a beta of 0.15. RCM Technologies has a 1-year low of $13.18 and a 1-year high of $26.37. The stock's 50 day simple moving average is $16.54 and its two-hundred day simple moving average is $19.74.

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

Hedge Funds Weigh In On RCM Technologies

Institutional investors have recently modified their holdings of the company. State Street Corp boosted its stake in RCM Technologies by 6.7% during the 3rd quarter. State Street Corp now owns 25,555 shares of the business services provider's stock valued at $518,000 after purchasing an additional 1,600 shares during the period. JPMorgan Chase & Co. boosted its position in shares of RCM Technologies by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 11,539 shares of the business services provider's stock worth $234,000 after buying an additional 1,639 shares during the period. Pacific Ridge Capital Partners LLC bought a new position in RCM Technologies in the 4th quarter worth approximately $2,668,000. Russell Investments Group Ltd. acquired a new stake in RCM Technologies in the 4th quarter valued at approximately $840,000. Finally, Barclays PLC bought a new stake in RCM Technologies during the 3rd quarter valued at $180,000. Institutional investors own 43.20% of the company's stock.

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.