Wall Street analysts expect PRGX Global Inc (NASDAQ:PRGX) to report $45.31 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for PRGX Global’s earnings, with the lowest sales estimate coming in at $45.00 million and the highest estimate coming in at $45.62 million. PRGX Global reported sales of $39.18 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.6%. The company is expected to announce its next quarterly earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that PRGX Global will report full-year sales of $45.31 million for the current year, with estimates ranging from $159.55 million to $160.17 million. For the next fiscal year, analysts expect that the company will post sales of $168.50 million per share, with estimates ranging from $167.00 million to $170.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover PRGX Global.
A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of PRGX Global from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Wednesday, November 8th. B. Riley set a $8.00 price target on PRGX Global and gave the company a “buy” rating in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. PRGX Global presently has an average rating of “Hold” and an average price target of $7.00.
Hedge funds have recently made changes to their positions in the company. Thomson Horstmann & Bryant Inc. increased its stake in shares of PRGX Global by 44.8% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 722,119 shares of the business services provider’s stock valued at $5,127,000 after acquiring an additional 223,379 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of PRGX Global by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 726,299 shares of the business services provider’s stock valued at $4,721,000 after acquiring an additional 34,620 shares during the last quarter. Cadence Capital Management LLC increased its stake in shares of PRGX Global by 5.1% in the 3rd quarter. Cadence Capital Management LLC now owns 248,838 shares of the business services provider’s stock valued at $1,742,000 after acquiring an additional 12,063 shares during the last quarter. OxFORD Asset Management LLP increased its stake in shares of PRGX Global by 74.7% in the 2nd quarter. OxFORD Asset Management LLP now owns 18,858 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 8,063 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in PRGX Global during the 4th quarter worth approximately $713,000. 70.83% of the stock is owned by institutional investors.
PRGX Global (NASDAQ:PRGX) opened at $7.95 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.59 and a quick ratio of 1.59. PRGX Global has a 52-week low of $5.40 and a 52-week high of $8.00.
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About PRGX Global
PRGX Global, Inc (PRGX), together with its subsidiaries, provides recovery audit and spend analytics services. The Company provides recovery audit, procure-to-pay performance improvement, spend analytics and risk management services principally to large businesses and government agencies. The Company operates through three segments: Recovery Audit Services-Americas, Recovery Audit Services-Europe/Asia-Pacific and Adjacent Services.
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