Benchmark Forecasts Strong Price Appreciation for RCM Technologies (NASDAQ:RCMT) Stock

RCM Technologies (NASDAQ:RCMT) had its price target upped by analysts at Benchmark from $33.00 to $37.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Benchmark’s price objective would suggest a potential upside of 42.86% from the company’s previous close.

Separately, B. Riley boosted their price target on RCM Technologies from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Monday.

RCM Technologies Stock Performance

Shares of RCM Technologies stock opened at $25.90 on Monday. The company has a market cap of $197.62 million, a P/E ratio of 13.28 and a beta of 0.63. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.84. The business has a 50-day moving average price of $20.97 and a two-hundred day moving average price of $20.07. RCM Technologies has a 1-year low of $17.11 and a 1-year high of $32.15.

Institutional Trading of RCM Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Klein Pavlis & Peasley Financial Inc. increased its stake in RCM Technologies by 19.9% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,208 shares of the business services provider’s stock valued at $247,000 after purchasing an additional 2,191 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of RCM Technologies during the third quarter valued at about $315,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of RCM Technologies during the third quarter worth about $425,000. Panagora Asset Management Inc. acquired a new stake in shares of RCM Technologies in the 2nd quarter worth about $458,000. Finally, Truvestments Capital LLC lifted its position in RCM Technologies by 79.3% in the 1st quarter. Truvestments Capital LLC now owns 28,906 shares of the business services provider’s stock valued at $618,000 after acquiring an additional 12,788 shares in the last quarter. 43.20% of the stock is owned by 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.