Resources Connection (NASDAQ:RECN) Receives “Hold” Rating from Robert W. Baird

Robert W. Baird reaffirmed their hold rating on shares of Resources Connection (NASDAQ:RECN) in a report released on Friday, November 10th. The firm currently has a $15.00 price objective on the business services provider’s stock.

A number of other analysts also recently issued reports on the company. Deutsche Bank cut their target price on Resources Connection from $14.00 to $12.00 and set a sell rating for the company in a research note on Friday, July 21st. Zacks Investment Research raised Resources Connection from a sell rating to a hold rating in a research note on Thursday, September 21st. Finally, BidaskClub downgraded Resources Connection from a sell rating to a strong sell rating in a research note on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $15.00.

Resources Connection (RECN) traded up $0.15 during trading on Friday, reaching $16.65. The company’s stock had a trading volume of 86,400 shares, compared to its average volume of 133,827. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.20. The stock has a market cap of $482.05, a price-to-earnings ratio of 27.12 and a beta of 1.19. Resources Connection has a 1-year low of $12.05 and a 1-year high of $19.80.

Resources Connection (NASDAQ:RECN) last posted its quarterly earnings data on Wednesday, October 4th. The business services provider reported $0.12 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. Resources Connection had a return on equity of 8.08% and a net margin of 2.60%. The firm had revenue of $141.20 million during the quarter, compared to the consensus estimate of $140.29 million. During the same period in the prior year, the company earned $0.15 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. sell-side analysts forecast that Resources Connection will post 0.67 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Wednesday, November 15th. Resources Connection’s dividend payout ratio is presently 102.13%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Texas Permanent School Fund boosted its holdings in Resources Connection by 0.6% during the 2nd quarter. Texas Permanent School Fund now owns 21,651 shares of the business services provider’s stock valued at $297,000 after acquiring an additional 130 shares during the period. Wells Fargo & Company MN boosted its holdings in Resources Connection by 1.5% during the 2nd quarter. Wells Fargo & Company MN now owns 25,126 shares of the business services provider’s stock valued at $343,000 after acquiring an additional 380 shares during the period. Teachers Advisors LLC boosted its holdings in Resources Connection by 0.7% during the 2nd quarter. Teachers Advisors LLC now owns 57,908 shares of the business services provider’s stock valued at $793,000 after acquiring an additional 387 shares during the period. AHL Partners LLP boosted its holdings in Resources Connection by 8.7% during the 2nd quarter. AHL Partners LLP now owns 15,851 shares of the business services provider’s stock valued at $217,000 after acquiring an additional 1,262 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Resources Connection by 0.9% during the 2nd quarter. California Public Employees Retirement System now owns 165,085 shares of the business services provider’s stock valued at $2,262,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 80.99% of the company’s stock.

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Resources Connection Company Profile

Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.

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