Resources Connection (NASDAQ:RGP) Research Coverage Started at Noble Financial

Noble Financial started coverage on shares of Resources Connection (NASDAQ:RGP) in a report issued on Wednesday, Benzinga reports. The brokerage set an “outperform” rating and a $15.00 price target on the stock. Noble Financial’s target price would indicate a potential upside of 35.50% from the company’s previous close.

A number of other research analysts have also recently issued reports on RGP. StockNews.com cut shares of Resources Connection from a “buy” rating to a “hold” rating in a research note on Sunday, February 25th. Robert W. Baird reduced their price objective on Resources Connection from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.00.

Resources Connection Price Performance

NASDAQ RGP traded down $0.07 during trading on Wednesday, reaching $11.07. 60,749 shares of the company’s stock were exchanged, compared to its average volume of 386,539. Resources Connection has a fifty-two week low of $10.59 and a fifty-two week high of $17.24. The stock has a market capitalization of $374.28 million, a P/E ratio of 16.77, a PEG ratio of 2.33 and a beta of 0.66. The business has a 50 day moving average price of $11.68 and a 200-day moving average price of $12.97.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings results on Wednesday, April 3rd. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.18. The business had revenue of $151.31 million for the quarter, compared to analyst estimates of $152.77 million. Resources Connection had a net margin of 3.34% and a return on equity of 6.86%. Resources Connection’s quarterly revenue was down 19.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 EPS. On average, analysts forecast that Resources Connection will post 0.32 earnings per share for the current year.

Institutional Trading of Resources Connection

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in Resources Connection during the fourth quarter valued at about $39,000. Gladius Capital Management LP purchased a new position in Resources Connection in the 4th quarter valued at approximately $65,000. Allspring Global Investments Holdings LLC raised its holdings in Resources Connection by 972.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,504 shares of the company’s stock valued at $112,000 after acquiring an additional 7,711 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Resources Connection during the first quarter worth $119,000. Finally, DGS Capital Management LLC bought a new position in shares of Resources Connection in the fourth quarter worth $149,000. 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.