RCM Technologies (NASDAQ:RCMT) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of RCM Technologies (NASDAQ:RCMT) from a hold rating to a strong sell rating in a research note published on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Wall Street Zen lowered shares of RCM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. Weiss Ratings restated a “hold (c)” rating on shares of RCM Technologies in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.00.

RCM Technologies Price Performance

Shares of RCMT opened at $18.90 on Tuesday. The company has a 50 day moving average of $24.34 and a two-hundred day moving average of $23.82. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.92. RCM Technologies has a twelve month low of $13.18 and a twelve month high of $28.27. The company has a market cap of $140.07 million, a price-to-earnings ratio of 10.74 and a beta of 0.12.

RCM Technologies (NASDAQ:RCMT) last issued its quarterly earnings data on Wednesday, November 5th. The business services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.03). RCM Technologies had a net margin of 4.53% and a return on equity of 39.98%. The business had revenue of $70.29 million for the quarter, compared to analysts’ expectations of $67.34 million.

Insider Buying and Selling

In other news, insider Michael Saks sold 5,000 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $27.50, for a total value of $137,500.00. Following the sale, the insider owned 109,547 shares in the company, valued at $3,012,542.50. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Bradley Vizi sold 7,289 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $27.51, for a total transaction of $200,520.39. Following the transaction, the chairman owned 1,531,951 shares of the company’s stock, valued at $42,143,972.01. This represents a 0.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,067 shares of company stock valued at $909,503 over the last three months. 26.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RCM Technologies

A number of institutional investors have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of RCM Technologies in the 2nd quarter valued at about $29,000. BNP Paribas Financial Markets raised its position in RCM Technologies by 44.1% during the second quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 579 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in RCM Technologies by 1,241.0% in the second quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 2,147 shares during the period. Lazard Asset Management LLC purchased a new stake in RCM Technologies in the 2nd quarter worth approximately $77,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of RCM Technologies during the 2nd quarter worth approximately $101,000. Hedge funds and other institutional investors own 43.20% of the company’s stock.

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.