Brokerages Set Resources Connection, Inc. (RECN) PT at $15.33

Resources Connection, Inc. (NASDAQ:RECN) has been assigned a consensus recommendation of “Hold” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $15.33.

A number of analysts recently commented on the stock. Robert W. Baird reiterated a “hold” rating and issued a $17.00 target price on shares of Resources Connection in a research note on Thursday, April 5th. BidaskClub upgraded shares of Resources Connection from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Zacks Investment Research cut shares of Resources Connection from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. Finally, TheStreet upgraded shares of Resources Connection from a “c+” rating to a “b” rating in a research note on Thursday, January 4th.

In related news, Director Michael H. Wargotz sold 6,200 shares of Resources Connection stock in a transaction that occurred on Monday, April 9th. The shares were sold at an average price of $15.36, for a total value of $95,232.00. Following the completion of the sale, the director now directly owns 29,073 shares in the company, valued at approximately $446,561.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.80% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of RECN. Municipal Employees Retirement System of Michigan raised its position in Resources Connection by 58.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 11,130 shares of the business services provider’s stock worth $155,000 after buying an additional 4,120 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Resources Connection during the 3rd quarter worth approximately $164,000. SG Americas Securities LLC purchased a new position in Resources Connection during the 3rd quarter worth approximately $153,000. Macquarie Group Ltd. purchased a new position in Resources Connection during the 3rd quarter worth approximately $203,000. Finally, JPMorgan Chase & Co. raised its position in Resources Connection by 4.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 244,194 shares of the business services provider’s stock worth $3,346,000 after buying an additional 11,033 shares during the last quarter. 80.58% of the stock is owned by institutional investors.

RECN stock traded down $0.20 during trading on Friday, reaching $15.80. The company had a trading volume of 96,879 shares, compared to its average volume of 143,930. The stock has a market capitalization of $496.37, a PE ratio of 21.00 and a beta of 1.14. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.23. Resources Connection has a twelve month low of $12.05 and a twelve month high of $17.00.

Resources Connection (NASDAQ:RECN) last released its earnings results on Wednesday, April 4th. The business services provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The company had revenue of $172.40 million during the quarter, compared to analysts’ expectations of $170.50 million. Resources Connection had a net margin of 3.12% and a return on equity of 9.15%. Resources Connection’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS. equities research analysts expect that Resources Connection will post 0.83 earnings per share for the current year.

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About Resources Connection

Resources Connection, Inc provides agile consulting services in North America, Europe, and the Asia Pacific. The company offers finance and accounting services, including process transformation and optimization, financial reporting and analysis, technical and operational accounting, merger and acquisition due diligence and integration, audit readiness, preparation and response, implementation of new accounting standards, and remediation support.

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