RCM Technologies (NASDAQ:RCMT) Price Target Cut to $30.00 by Analysts at Benchmark

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

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

RCM Technologies Trading Down 1.5 %

NASDAQ:RCMT opened at $15.14 on Friday. RCM Technologies has a 12 month low of $13.18 and a 12 month high of $26.37. The firm has a fifty day simple moving average of $18.81 and a 200-day simple moving average of $20.66. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $115.02 million, a P/E ratio of 7.76 and a beta of 0.58.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RCMT. BNP Paribas Financial Markets purchased a new position in shares of RCM Technologies during the third quarter worth $48,000. Barclays PLC purchased a new position in shares of RCM Technologies during the third quarter worth $180,000. JPMorgan Chase & Co. raised its holdings in shares of RCM Technologies by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 11,539 shares of the business services provider’s stock worth $234,000 after purchasing an additional 1,639 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of RCM Technologies during the fourth quarter worth $258,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of RCM Technologies during the fourth quarter worth $259,000. Hedge funds and other 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.