Resources Connection (NASDAQ:RGP) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Resources Connection (NASDAQ:RGP) from a buy rating to a hold rating in a report released on Saturday morning.

Other equities analysts have also issued reports about the company. Robert W. Baird decreased their price objective on Resources Connection from $15.00 to $13.00 and set a neutral rating for the company in a research report on Thursday, April 4th. Noble Financial began coverage on shares of Resources Connection in a research note on Wednesday, May 29th. They issued an outperform rating and a $15.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Resources Connection from $12.00 to $11.00 and set an underweight rating for the company in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $13.00.

Resources Connection Stock Performance

RGP opened at $11.94 on Friday. Resources Connection has a twelve month low of $9.70 and a twelve month high of $16.35. The firm has a market cap of $403.66 million, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.17 and a beta of 0.67. The firm’s fifty day moving average is $10.87 and its two-hundred day moving average is $11.99.

Resources Connection (NASDAQ:RGP) last issued its quarterly earnings data on Thursday, July 18th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.10 by $0.18. Resources Connection had a return on equity of 6.19% and a net margin of 3.32%. The business had revenue of $148.20 million for the quarter, compared to the consensus estimate of $140.59 million. During the same quarter last year, the business posted $0.39 EPS. The firm’s revenue was down 19.7% compared to the same quarter last year. Equities analysts forecast that Resources Connection will post 0.67 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 23rd will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date is Friday, August 23rd. Resources Connection’s dividend payout ratio (DPR) is presently 84.85%.

Insider Activity

In other Resources Connection news, Director Roger D. Carlile acquired 25,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was bought at an average cost of $11.25 per share, with a total value of $281,250.00. Following the completion of the transaction, the director now directly owns 25,000 shares in the company, valued at approximately $281,250. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Jennifer Y. Ryu sold 11,650 shares of Resources Connection stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $11.25, for a total transaction of $131,062.50. Following the completion of the sale, the chief financial officer now owns 84,481 shares of the company’s stock, valued at approximately $950,411.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roger D. Carlile purchased 25,000 shares of the stock in a transaction on Monday, July 22nd. The stock was bought at an average cost of $11.25 per share, for a total transaction of $281,250.00. Following the completion of the acquisition, the director now owns 25,000 shares in the company, valued at $281,250. The disclosure for this purchase can be found here. 7.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Resources Connection

A number of institutional investors have recently made changes to their positions in RGP. Nisa Investment Advisors LLC boosted its position in shares of Resources Connection by 66.4% in the second quarter. Nisa Investment Advisors LLC now owns 2,554 shares of the company’s stock valued at $28,000 after acquiring an additional 1,019 shares during the period. CWM LLC boosted its holdings in Resources Connection by 883.5% in the 2nd quarter. CWM LLC now owns 3,393 shares of the company’s stock valued at $37,000 after purchasing an additional 3,048 shares during the period. Quarry LP acquired a new position in shares of Resources Connection during the 4th quarter worth approximately $39,000. Mather Group LLC. bought a new position in shares of Resources Connection during the second quarter worth approximately $44,000. Finally, Gladius Capital Management LP acquired a new stake in shares of Resources Connection in the fourth quarter valued at approximately $65,000. Institutional investors own 93.23% of the company’s stock.

About Resources Connection

Resources Connection, Inc provides consulting services to business customers under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers services in the areas of transactions, including integration and divestitures, bankruptcy/restructuring, going public readiness and support, financial process optimization, and system implementation; and regulations, such as accounting regulations, internal audit and compliance, data privacy and security, healthcare compliance, and regulatory compliance.