RCM Technologies (NASDAQ:RCMT) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of RCM Technologies (NASDAQ:RCMT) from a hold rating to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

A number of other equities analysts also recently weighed in on RCMT. Benchmark raised their target price on shares of RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 17th. B. Riley Financial boosted their price target on RCM Technologies from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Weiss Ratings restated a “hold (c+)” rating on shares of RCM Technologies in a research note on Friday, July 17th. Finally, Wall Street Zen raised RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Sunday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $45.00.

RCM Technologies Stock Performance

Shares of RCMT stock opened at $42.00 on Monday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.48. The company’s fifty day moving average price is $29.96 and its 200-day moving average price is $25.57. The stock has a market cap of $298.62 million, a PE ratio of 18.26 and a beta of 0.29. RCM Technologies has a 12 month low of $17.26 and a 12 month high of $42.07.

RCM Technologies (NASDAQ:RCMT) last issued its quarterly earnings results on Thursday, August 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.20. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. The company had revenue of $93.82 million during the quarter, compared to analysts’ expectations of $81.75 million. On average, equities analysts expect that RCM Technologies will post 2.6 EPS for the current fiscal year.

Insider Activity at RCM Technologies

In other RCM Technologies news, Chairman Bradley Vizi sold 74,719 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $38.86, for a total value of $2,903,580.34. Following the transaction, the chairman directly owned 1,402,477 shares in the company, valued at approximately $54,500,256.22. This trade represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Saks sold 11,792 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $33.56, for a total transaction of $395,739.52. Following the sale, the insider directly owned 99,307 shares of the company’s stock, valued at approximately $3,332,742.92. The trade was a 10.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 216,911 shares of company stock worth $8,109,137 over the last quarter. Company insiders own 28.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its holdings in RCM Technologies by 44.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock worth $45,000 after acquiring an additional 579 shares in the last quarter. California State Teachers Retirement System boosted its holdings in RCM Technologies by 570.9% in the 2nd quarter. California State Teachers Retirement System now owns 1,778 shares of the business services provider’s stock worth $50,000 after buying an additional 1,513 shares during the period. JPMorgan Chase & Co. increased its stake in RCM Technologies by 1,241.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock worth $55,000 after buying an additional 2,147 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of RCM Technologies in the third quarter valued at about $60,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of RCM Technologies during the second quarter worth about $77,000. Institutional investors own 43.20% of the company’s stock.

About RCM Technologies

RCM Technologies, Inc (NASDAQ: RCMT) is an information technology consulting firm that specializes in delivering secure, enterprise-level technology solutions. The company’s core offerings include IT infrastructure design and integration, data center modernization, cloud migration and management, cybersecurity services, and digital collaboration platforms. RCM Technologies serves clients across federal and commercial markets, tailoring its services to meet the strict security and compliance requirements of government agencies as well as the performance and scalability needs of private-sector organizations.

Founded in the mid-1980s and headquartered in Dresher, Pennsylvania, RCM Technologies has built a reputation for end-to-end project delivery, from initial assessment and design through implementation and ongoing managed support.