RCM Technologies (NASDAQ:RCMT) Raised to Strong-Buy at B. Riley

RCM Technologies (NASDAQ:RCMT) was upgraded by investment analysts at B. Riley to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

RCM Technologies Trading Down 6.7 %

NASDAQ:RCMT opened at $14.95 on Tuesday. RCM Technologies has a 1-year low of $13.18 and a 1-year high of $26.37. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $113.58 million, a price-to-earnings ratio of 7.67 and a beta of 0.58. The business’s 50-day moving average price is $19.01 and its two-hundred day moving average price is $20.73.

RCM Technologies (NASDAQ:RCMT) last announced its earnings results on Wednesday, March 12th. The business services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.37). RCM Technologies had a return on equity of 58.70% and a net margin of 5.77%. The company had revenue of $76.91 million for the quarter, compared to analyst estimates of $79.00 million.

Hedge Funds Weigh In On RCM Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new position in shares of RCM Technologies in the third quarter valued at about $265,000. State Street Corp boosted its holdings in shares of RCM Technologies by 6.7% in the 3rd quarter. State Street Corp now owns 25,555 shares of the business services provider’s stock valued at $518,000 after purchasing an additional 1,600 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in RCM Technologies in the third quarter valued at about $48,000. JPMorgan Chase & Co. grew its holdings in shares of RCM Technologies by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,539 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 1,639 shares during the last quarter. Finally, Barclays PLC acquired a new position in RCM Technologies during the 3rd quarter worth approximately $180,000. 43.20% of the stock is owned by institutional investors.

About RCM Technologies

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.