RCM Technologies (NASDAQ:RCMT) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of RCM Technologies (NASDAQ:RCMT) from a hold rating to a buy rating in a research report report published on Friday morning.

RCM Technologies Price Performance

RCMT stock opened at $19.06 on Friday. The firm has a market capitalization of $151.34 million, a P/E ratio of 9.58 and a beta of 0.73. RCM Technologies has a 12 month low of $11.14 and a 12 month high of $32.15. The firm has a 50 day moving average of $24.96 and a 200-day moving average of $25.13. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.19.

RCM Technologies (NASDAQ:RCMT) last announced its earnings results on Wednesday, March 13th. The business services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $71.03 million for the quarter, compared to analyst estimates of $72.47 million. RCM Technologies had a return on equity of 71.41% and a net margin of 6.39%. As a group, sell-side analysts predict that RCM Technologies will post 2.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RCM Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Tucker Asset Management LLC grew its position in RCM Technologies by 150.0% during the fourth quarter. Tucker Asset Management LLC now owns 1,250 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 750 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in RCM Technologies during the 3rd quarter worth approximately $29,000. Tower Research Capital LLC TRC purchased a new position in RCM Technologies in the 3rd quarter worth approximately $48,000. JPMorgan Chase & Co. purchased a new stake in RCM Technologies during the 2nd quarter valued at $52,000. Finally, Citigroup Inc. purchased a new position in shares of RCM Technologies in the first quarter valued at about $26,000. 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.