RCM Technologies (NASDAQ:RCMT) Earns “Buy” Rating from Benchmark

RCM Technologies (NASDAQ:RCMT)‘s stock had its “buy” rating reiterated by investment analysts at Benchmark in a report issued on Tuesday, Benzinga reports. They presently have a $33.00 target price on the business services provider’s stock. Benchmark’s price target points to a potential upside of 78.28% from the company’s previous close.

RCM Technologies Price Performance

Shares of RCMT remained flat at $18.51 on Tuesday. The stock had a trading volume of 2,475 shares, compared to its average volume of 69,351. The firm has a market capitalization of $143.51 million, a P/E ratio of 8.99 and a beta of 0.64. RCM Technologies has a fifty-two week low of $17.11 and a fifty-two week high of $32.15. The business has a fifty day moving average price of $19.09 and a 200 day moving average price of $21.93. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.75.

RCM Technologies (NASDAQ:RCMT) last issued its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $69.16 million during the quarter, compared to the consensus estimate of $69.90 million. RCM Technologies had a net margin of 6.32% and a return on equity of 74.07%. During the same quarter in the previous year, the firm posted $0.47 EPS. On average, equities analysts forecast that RCM Technologies will post 2.05 EPS for the current year.

Institutional Trading of RCM Technologies

Several hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its position in RCM Technologies by 466.4% in the 1st quarter. Acadian Asset Management LLC now owns 59,930 shares of the business services provider’s stock valued at $1,279,000 after buying an additional 49,350 shares during the last quarter. Panagora Asset Management Inc. bought a new position in RCM Technologies in the second quarter valued at about $458,000. Jump Financial LLC bought a new stake in RCM Technologies during the 4th quarter worth about $426,000. Truvestments Capital LLC raised its holdings in RCM Technologies by 79.3% during the 1st quarter. Truvestments Capital LLC now owns 28,906 shares of the business services provider’s stock worth $618,000 after purchasing an additional 12,788 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in RCM Technologies during the 4th quarter valued at about $252,000. 43.20% of the stock is owned by institutional investors.

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.