RCM Technologies (NASDAQ:RCMT – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.
Separately, Benchmark increased their price objective on shares of RCM Technologies from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, November 13th.
RCM Technologies Price Performance
Shares of RCMT stock traded down $0.90 during mid-day trading on Tuesday, reaching $29.99. The company’s stock had a trading volume of 58,068 shares, compared to its average volume of 87,785. RCM Technologies has a 1-year low of $10.11 and a 1-year high of $32.15. The company has a market cap of $233.92 million, a P/E ratio of 16.48 and a beta of 0.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50-day moving average is $27.98 and its two-hundred day moving average is $22.65.
RCM Technologies (NASDAQ:RCMT – Get Free Report) last announced its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.16. RCM Technologies had a net margin of 6.25% and a return on equity of 63.01%. The company had revenue of $58.05 million during the quarter, compared to analysts’ expectations of $60.12 million. On average, research analysts predict that RCM Technologies will post 1.97 earnings per share for the current year.
Insider Buying and Selling
In related news, Chairman Bradley Vizi sold 9,227 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $25.04, for a total transaction of $231,044.08. Following the completion of the sale, the chairman now owns 1,640,587 shares in the company, valued at approximately $41,080,298.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Bradley Vizi sold 9,227 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $25.04, for a total transaction of $231,044.08. Following the completion of the sale, the chairman now owns 1,640,587 shares in the company, valued at approximately $41,080,298.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Saks sold 5,000 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $27.27, for a total transaction of $136,350.00. Following the sale, the insider now directly owns 120,236 shares in the company, valued at approximately $3,278,835.72. The disclosure for this sale can be found here. Insiders sold 139,848 shares of company stock worth $3,889,042 in the last quarter. 32.30% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On RCM Technologies
A number of hedge funds have recently added to or reduced their stakes in RCMT. Kent Lake Capital LLC bought a new stake in RCM Technologies during the 2nd quarter worth about $1,881,000. Marshall Wace LLP bought a new position in shares of RCM Technologies in the 3rd quarter valued at about $1,497,000. Ballast Asset Management LP bought a new position in shares of RCM Technologies in the 3rd quarter valued at about $1,056,000. LSV Asset Management bought a new position in shares of RCM Technologies in the 2nd quarter valued at about $880,000. Finally, Millennium Management LLC boosted its stake in shares of RCM Technologies by 382.3% in the 4th quarter. Millennium Management LLC now owns 54,572 shares of the business services provider’s stock valued at $673,000 after purchasing an additional 43,257 shares during the last quarter. Institutional investors own 31.41% 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 Serbia. 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.