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

StockNews.com upgraded shares of RCM Technologies (NASDAQ:RCMT) from a buy rating to a strong-buy rating in a research report sent to investors on Friday morning.

Other research analysts also recently issued research reports about the stock. Benchmark dropped 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. B. Riley upgraded shares of RCM Technologies to a “strong-buy” rating in a report on Tuesday, March 18th.

RCM Technologies Stock Performance

Shares of RCMT opened at $20.33 on Friday. The company has a market capitalization of $150.52 million, a PE ratio of 10.43 and a beta of 0.15. RCM Technologies has a one year low of $13.18 and a one year high of $26.37. 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’s fifty day moving average price is $16.62 and its 200 day moving average price is $19.70.

RCM Technologies (NASDAQ:RCMT) last announced its earnings results on Wednesday, May 14th. The business services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $84.47 million during the quarter, compared to the consensus estimate of $76.04 million. RCM Technologies had a return on equity of 58.70% and a net margin of 5.77%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pacific Ridge Capital Partners LLC increased its holdings in shares of RCM Technologies by 30.4% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 156,994 shares of the business services provider’s stock worth $2,449,000 after purchasing an additional 36,608 shares during the period. Significant Wealth Partners LLC bought a new position in shares of RCM Technologies during the 1st quarter worth about $160,000. Exchange Traded Concepts LLC bought a new position in shares of RCM Technologies during the 1st quarter worth about $258,000. Mackenzie Financial Corp bought a new stake in RCM Technologies in the fourth quarter valued at about $374,000. Finally, Connective Capital Management LLC bought a new stake in RCM Technologies in the fourth quarter valued at about $349,000. 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.