Key Points
- Insider sale: Michael Saks sold 10,000 RCM Technologies shares at an average price of $41.07, totaling $410,700, reducing his ownership by 10.07% to 89,307 shares. He also sold 11,792 shares several days earlier for $395,739.52.
- Strong quarterly results: RCM Technologies reported quarterly EPS of $0.82, exceeding the $0.62 consensus estimate, while revenue of $93.82 million topped expectations of $81.75 million.
- Analyst outlook remains positive: The stock has a “Moderate Buy” consensus rating and a $45 average price target, with Benchmark and B. Riley raising their targets to $45. Institutional investors own 43.2% of the company.
RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) insider Michael Saks sold 10,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $41.07, for a total transaction of $410,700.00. Following the completion of the transaction, the insider directly owned 89,307 shares in the company, valued at $3,667,838.49. This trade represents a 10.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Michael Saks also recently made the following trade(s):
- On Friday, August 14th, Michael Saks sold 11,792 shares of RCM Technologies stock. The stock was sold at an average price of $33.56, for a total transaction of $395,739.52.
RCM Technologies Price Performance
Shares of RCMT opened at $41.03 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.92 and a quick ratio of 1.92. RCM Technologies, Inc. has a 1-year low of $17.26 and a 1-year high of $42.04. The stock has a market cap of $291.72 million, a PE ratio of 17.84 and a beta of 0.29. The firm has a fifty day moving average price of $29.03 and a 200 day moving average price of $25.13.
RCM Technologies (NASDAQ:RCMT - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.20. RCM Technologies had a return on equity of 37.92% and a net margin of 5.13%.The company had revenue of $93.82 million for the quarter, compared to analyst estimates of $81.75 million. As a group, sell-side analysts anticipate that RCM Technologies, Inc. will post 2.23 EPS for the current year.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on RCMT shares. Benchmark raised their target price on shares of RCM Technologies from $36.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday. Zacks Research cut shares of RCM Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Weiss Ratings reiterated a "hold (c+)" rating on shares of RCM Technologies in a research note on Friday, July 17th. B. Riley Financial boosted their price target on RCM Technologies from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Monday. Finally, Wall Street Zen raised RCM Technologies from a "hold" rating to a "strong-buy" rating in a research note on Sunday, August 16th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $45.00.
Read Our Latest Stock Report on RCM Technologies
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in RCM Technologies by 44.1% during the second quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider's stock worth $45,000 after acquiring an additional 579 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in RCM Technologies in the 3rd quarter valued at about $60,000. JPMorgan Chase & Co. raised its stake in RCM Technologies by 1,241.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider's stock valued at $55,000 after purchasing an additional 2,147 shares during the last quarter. Lazard Asset Management LLC purchased a new position in RCM Technologies in the 2nd quarter valued at about $77,000. Finally, Bank of America Corp DE boosted its stake in shares of RCM Technologies by 28.1% during the 3rd quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider's stock worth $111,000 after purchasing an additional 915 shares during the last quarter. Hedge funds and other institutional investors own 43.20% of the company's stock.
About RCM Technologies
(
Get Free Report)
RCM Technologies, Inc (NASDAQ: RCMT) is an information technology consulting firm that specializes in delivering secure, enterprise-level technology solutions. The company's core offerings include IT infrastructure design and integration, data center modernization, cloud migration and management, cybersecurity services, and digital collaboration platforms. RCM Technologies serves clients across federal and commercial markets, tailoring its services to meet the strict security and compliance requirements of government agencies as well as the performance and scalability needs of private-sector organizations.
Founded in the mid-1980s and headquartered in Dresher, Pennsylvania, RCM Technologies has built a reputation for end-to-end project delivery, from initial assessment and design through implementation and ongoing managed support.
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