Brokerages Set $12.00 Price Target for PRGX Global Inc (PRGX)

Shares of PRGX Global Inc (NASDAQ:PRGX) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokers have set a 12 month consensus price target of $12.00 for the company and are anticipating that the company will post ($0.05) EPS for the current quarter, according to Zacks. Zacks has also assigned PRGX Global an industry rank of 156 out of 255 based on the ratings given to its competitors.

A number of equities analysts recently commented on the company. ValuEngine raised PRGX Global from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Barrington Research reaffirmed a “buy” rating on shares of PRGX Global in a report on Friday, April 27th. B. Riley raised their target price on PRGX Global from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised PRGX Global from a “hold” rating to a “strong-buy” rating and set a $11.00 target price on the stock in a report on Friday, May 4th. Finally, TheStreet upgraded PRGX Global from a “c+” rating to a “b+” rating in a research note on Tuesday, March 6th.

NASDAQ PRGX opened at $9.30 on Friday. PRGX Global has a 1-year low of $5.40 and a 1-year high of $10.30. The firm has a market cap of $215.38 million, a PE ratio of 44.29, a PEG ratio of 3.63 and a beta of 0.85. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.23.

PRGX Global (NASDAQ:PRGX) last announced its earnings results on Tuesday, May 1st. The business services provider reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.07. PRGX Global had a return on equity of 4.60% and a net margin of 1.64%. The company had revenue of $36.72 million for the quarter, compared to analysts’ expectations of $35.00 million. analysts forecast that PRGX Global will post 0.21 EPS for the current fiscal year.

In other PRGX Global news, Director Matthew A. Drapkin purchased 35,766 shares of the business’s stock in a transaction on Thursday, May 31st. The stock was acquired at an average price of $9.64 per share, for a total transaction of $344,784.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Victor A. Allums sold 35,240 shares of the stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $9.64, for a total value of $339,713.60. The disclosure for this sale can be found here. Insiders acquired a total of 138,118 shares of company stock valued at $1,316,511 in the last quarter. 17.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in PRGX Global by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 732,777 shares of the business services provider’s stock worth $6,925,000 after buying an additional 12,182 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of PRGX Global by 608.1% during the first quarter. JPMorgan Chase & Co. now owns 17,823 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 15,306 shares in the last quarter. ClariVest Asset Management LLC grew its position in shares of PRGX Global by 138.9% during the first quarter. ClariVest Asset Management LLC now owns 32,222 shares of the business services provider’s stock valued at $304,000 after purchasing an additional 18,737 shares in the last quarter. Monashee Investment Management LLC purchased a new position in shares of PRGX Global during the fourth quarter valued at about $150,000. Finally, Element Capital Management LLC purchased a new position in shares of PRGX Global during the first quarter valued at about $200,000. Institutional investors and hedge funds own 72.04% of the company’s stock.

About PRGX Global

PRGX Global, Inc, together with its subsidiaries, provides recovery audit services to businesses and government agencies having payment transactions and procurement environments. It operates through three segments: Recovery Audit Services ? Americas, Recovery Audit Services – Europe/Asia-Pacific, and Adjacent Services.

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