Resources Connection (NASDAQ:RECN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
According to Zacks, “Resources Connection, Inc. is a multinational professional services firm that helps business leaders execute internal initiatives. The company provides experienced accounting and finance, human resources management and information technology professionals to clients on a project-by-project basis. Partnering with business leaders, Resources Connection drives internal change across all parts of a global enterprise – accounting, finance, risk management and internal audit, corporate advisory, strategic communications and restructuring, information management, human capital, supply chain management, healthcare solutions, and legal and regulatory services. “
Other research analysts have also issued reports about the company. TheStreet raised Resources Connection from a “c+” rating to a “b” rating in a research report on Thursday, January 4th. BidaskClub raised Resources Connection from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th. Robert W. Baird reaffirmed a “hold” rating and issued a $15.00 target price on shares of Resources Connection in a research report on Friday, November 10th. Finally, JPMorgan Chase & Co. lowered Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 target price for the company. in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $15.25.
Resources Connection (NASDAQ RECN) opened at $15.00 on Friday. Resources Connection has a 12-month low of $12.05 and a 12-month high of $17.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.36 and a quick ratio of 2.36. The firm has a market capitalization of $470.63, a PE ratio of 22.73 and a beta of 1.21.
Resources Connection (NASDAQ:RECN) last posted its quarterly earnings data on Wednesday, January 3rd. The business services provider reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Resources Connection had a return on equity of 8.25% and a net margin of 2.98%. The firm had revenue of $156.70 million during the quarter, compared to analyst estimates of $152.91 million. During the same period last year, the company posted $0.26 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. research analysts predict that Resources Connection will post 0.83 earnings per share for the current year.
Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Resources Connection in the 3rd quarter valued at about $153,000. Municipal Employees Retirement System of Michigan increased its position in Resources Connection by 58.8% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 11,130 shares of the business services provider’s stock valued at $155,000 after buying an additional 4,120 shares in the last quarter. Aperio Group LLC bought a new stake in Resources Connection in the 4th quarter valued at about $157,000. Russell Investments Group Ltd. bought a new stake in Resources Connection in the 3rd quarter valued at about $164,000. Finally, Jane Street Group LLC bought a new stake in Resources Connection in the 3rd quarter valued at about $171,000. 77.76% of the stock is owned by institutional investors and hedge funds.
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About Resources Connection
Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.
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