RCM Technologies (NASDAQ:RCMT) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Key Points

• Wall Street Zen upgraded RCM Technologies to “strong-buy” from “hold,” although the broader analyst consensus remains “hold” with an average price target of $36.00.
• RCM Technologies reported quarterly earnings of $0.82 per share, beating estimates of $0.62, while revenue of $93.82 million exceeded the $81.75 million consensus forecast.
• The stock was up 21.2%, opening at $35.05 near its 52-week high of $35.49; institutional investors own 43.2% of the company’s shares.

RCM Technologies (NASDAQ:RCMT - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a report issued on Sunday.

A number of other equities analysts have also commented on the company. Zacks Research lowered RCM Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Weiss Ratings reissued a "hold (c+)" rating on shares of RCM Technologies in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, RCM Technologies has a consensus rating of "Hold" and an average price target of $36.00.

RCM Technologies Stock Up 21.2%

Shares of NASDAQ RCMT opened at $35.05 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market capitalization of $248.50 million, a P/E ratio of 15.24 and a beta of 0.29. RCM Technologies has a 52 week low of $17.26 and a 52 week high of $35.49. The stock's fifty day moving average is $27.73 and its 200 day moving average is $24.53.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last posted its earnings results on Thursday, August 13th. The business services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.20. RCM Technologies had a net margin of 5.13% and a return on equity of 38.99%. The firm had revenue of $93.82 million during the quarter, compared to the consensus estimate of $81.75 million. Sell-side analysts forecast that RCM Technologies will post 2.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RCM Technologies

A number of hedge funds have recently modified their holdings of RCMT. Qube Research & Technologies Ltd raised its stake in shares of RCM Technologies by 5.4% during the third quarter. Qube Research & Technologies Ltd now owns 11,187 shares of the business services provider's stock valued at $297,000 after acquiring an additional 576 shares during the last quarter. BNP Paribas Financial Markets increased 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 valued at $45,000 after purchasing an additional 579 shares during the period. Bank of America Corp DE increased 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 valued at $111,000 after purchasing an additional 915 shares during the period. Janney Montgomery Scott LLC raised its position in RCM Technologies by 3.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 35,735 shares of the business services provider's stock valued at $684,000 after purchasing an additional 1,341 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in RCM Technologies by 2.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 69,304 shares of the business services provider's stock valued at $1,417,000 after purchasing an additional 1,674 shares during 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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