Benchmark Cuts RCM Technologies (NASDAQ:RCMT) Price Target to $30.00

RCM Technologies (NASDAQ:RCMT) had its target price cut by Benchmark from $37.00 to $30.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Separately, B. Riley raised RCM Technologies to a “strong-buy” rating in a report on Tuesday, March 18th.

RCM Technologies Trading Down 1.5 %

Shares of RCM Technologies stock opened at $15.14 on Friday. The firm’s 50 day moving average is $18.81 and its 200 day moving average is $20.67. The firm has a market capitalization of $114.90 million, a PE ratio of 7.76 and a beta of 0.58. 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.

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

Institutional Trading of RCM Technologies

Several institutional investors have recently modified their holdings of RCMT. Connor Clark & Lunn Investment Management Ltd. acquired a new position in RCM Technologies during the 3rd quarter worth about $425,000. Truvestments Capital LLC raised 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. BNP Paribas Financial Markets acquired a new position in shares of RCM Technologies in the third quarter worth approximately $48,000. State Street Corp boosted its holdings in RCM Technologies by 6.7% in the third quarter. State Street Corp now owns 25,555 shares of the business services provider’s stock valued at $518,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Barclays PLC acquired a new stake in RCM Technologies during the 3rd quarter valued at approximately $180,000. Institutional investors own 43.20% of the company’s stock.

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.