Benchmark Has Lowered Expectations for RCM Technologies (NASDAQ:RCMT) Stock Price

RCM Technologies (NASDAQ:RCMT) had its target price lowered by research analysts at Benchmark from $37.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Benchmark’s price target points to a potential upside of 98.15% from the company’s current price.

Separately, B. Riley upgraded shares of RCM Technologies to a “strong-buy” rating in a research note on Tuesday, March 18th.

RCM Technologies Stock Down 1.5 %

Shares of NASDAQ:RCMT opened at $15.14 on Friday. The firm’s 50 day moving average price is $18.81 and its 200 day moving average price is $20.66. The stock has a market cap of $115.02 million, a price-to-earnings ratio of 7.76 and a beta of 0.58. RCM Technologies has a fifty-two week low of $13.18 and a fifty-two week high of $26.37. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.06.

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

Hedge Funds Weigh In On RCM Technologies

A number of hedge funds have recently modified their holdings of the business. Truvestments Capital LLC grew its position in shares of RCM Technologies by 2.2% during the third quarter. Truvestments Capital LLC now owns 35,148 shares of the business services provider’s stock worth $713,000 after acquiring an additional 772 shares during the last quarter. Barclays PLC grew its position in RCM Technologies by 17.1% in the 4th quarter. Barclays PLC now owns 10,405 shares of the business services provider’s stock valued at $231,000 after buying an additional 1,517 shares during the last quarter. State Street Corp grew its position in 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 buying an additional 1,600 shares during the last quarter. JPMorgan Chase & Co. grew its position in RCM Technologies by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,539 shares of the business services provider’s stock valued at $234,000 after buying an additional 1,639 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in RCM Technologies in the 3rd quarter valued at $48,000. 43.20% of the stock is currently owned by hedge funds and other institutional investors.

RCM Technologies Company Profile

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.