Resources Connection (NASDAQ:RGP) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Resources Connection (NASDAQ:RGP) from sell to hold, while other analysts remained mixed, leaving the stock with an overall Hold rating and a $7.00 average price target.
• RGP shares were down 0.2% and opened at $4.45; the company has a market cap of about $152.8 million and is trading between a $3.06 12-month low and $6.30 high.
• The company recently reported quarterly EPS of ($0.09), missing estimates, on revenue of $107.93 million; analysts expect RGP to post -0.29 EPS for the current year.

Resources Connection (NASDAQ:RGP - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Several other research analysts also recently commented on RGP. Weiss Ratings downgraded Resources Connection from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday. Zacks Research downgraded Resources Connection from a "hold" rating to a "strong sell" rating in a research note on Monday, April 13th. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Resources Connection currently has an average rating of "Hold" and an average price target of $7.00.

Resources Connection Stock Down 0.2%

NASDAQ:RGP opened at $4.45 on Friday. The firm has a market capitalization of $152.77 million, a price-to-earnings ratio of -1.50 and a beta of 0.52. Resources Connection has a twelve month low of $3.06 and a twelve month high of $6.30. The stock's 50 day moving average price is $3.79 and its two-hundred day moving average price is $4.33.

Resources Connection (NASDAQ:RGP - Get Free Report) last issued its earnings results on Wednesday, April 8th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). Resources Connection had a negative return on equity of 0.55% and a negative net margin of 20.16%.The business had revenue of $107.93 million for the quarter, compared to the consensus estimate of $108.19 million. As a group, analysts anticipate that Resources Connection will post -0.29 earnings per share for the current year.

Institutional Trading of Resources Connection

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Resources Connection by 5.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,011,147 shares of the company's stock valued at $10,156,000 after purchasing an additional 97,228 shares during the period. Brandes Investment Partners LP boosted its stake in Resources Connection by 3.1% in the 4th quarter. Brandes Investment Partners LP now owns 1,442,645 shares of the company's stock valued at $7,271,000 after purchasing an additional 43,369 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Resources Connection by 37.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,407,032 shares of the company's stock valued at $7,091,000 after purchasing an additional 380,769 shares during the period. Circumference Group LLC boosted its stake in Resources Connection by 7.8% in the 4th quarter. Circumference Group LLC now owns 1,389,243 shares of the company's stock valued at $7,002,000 after purchasing an additional 100,000 shares during the period. Finally, First Manhattan CO. LLC. bought a new stake in Resources Connection in the 4th quarter valued at $3,785,000. 93.23% of the stock is currently owned by institutional investors.

Resources Connection Company Profile

Resources Connection, Inc NASDAQ: RGP is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP's consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.

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