Benchmark Forecasts Strong Price Appreciation for RCM Technologies (NASDAQ:RCMT) Stock

RCM Technologies (NASDAQ:RCMT) had its price target increased by Benchmark from $33.00 to $37.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the business services provider’s stock.

Separately, B. Riley upped their target price on shares of RCM Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday.

RCM Technologies Stock Up 4.3 %

RCMT stock opened at $25.04 on Monday. The company’s 50 day moving average price is $20.76 and its 200 day moving average price is $19.98. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.48 and a current ratio of 1.48. RCM Technologies has a fifty-two week low of $17.11 and a fifty-two week high of $32.15. The firm has a market capitalization of $191.06 million, a price-to-earnings ratio of 12.84 and a beta of 0.63.

Hedge Funds Weigh In On RCM Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCMT. Acadian Asset Management LLC boosted its holdings in RCM Technologies by 466.4% in the first quarter. Acadian Asset Management LLC now owns 59,930 shares of the business services provider’s stock valued at $1,279,000 after purchasing an additional 49,350 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in RCM Technologies in the second quarter valued at approximately $458,000. Marshall Wace LLP boosted its holdings in RCM Technologies by 174.0% in the second quarter. Marshall Wace LLP now owns 38,392 shares of the business services provider’s stock valued at $719,000 after purchasing an additional 24,380 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in RCM Technologies in the third quarter valued at approximately $425,000. Finally, Exchange Traded Concepts LLC acquired a new position in RCM Technologies in the third quarter valued at approximately $315,000. 43.20% of the stock is owned by institutional investors and hedge funds.

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.