Resources Connection (NASDAQ:RGP – Get Free Report) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.
A number of other analysts also recently commented on RGP. Weiss Ratings downgraded shares of Resources Connection from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Wall Street Zen raised shares of Resources Connection from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.00.
Get Our Latest Stock Report on RGP
Resources Connection Trading Up 0.4%
Resources Connection (NASDAQ:RGP – Get Free Report) last released its quarterly earnings results on Wednesday, April 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). Resources Connection had a negative return on equity of 0.55% and a negative net margin of 20.16%.The company had revenue of $107.93 million for the quarter, compared to the consensus estimate of $108.19 million. On average, equities research analysts predict that Resources Connection will post -0.29 earnings per share for the current year.
Institutional Trading of Resources Connection
Several institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in shares of Resources Connection by 81.3% during the first quarter. Royal Bank of Canada now owns 35,224 shares of the company’s stock worth $131,000 after purchasing an additional 15,796 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Resources Connection by 10.7% during the first quarter. Renaissance Technologies LLC now owns 311,200 shares of the company’s stock worth $1,161,000 after purchasing an additional 30,000 shares during the period. Sei Investments Co. boosted its holdings in shares of Resources Connection by 111.5% during the first quarter. Sei Investments Co. now owns 1,329,568 shares of the company’s stock worth $4,959,000 after purchasing an additional 700,943 shares during the period. PNC Financial Services Group Inc. lifted its stake in Resources Connection by 58.5% in the first quarter. PNC Financial Services Group Inc. now owns 24,636 shares of the company’s stock valued at $92,000 after acquiring an additional 9,094 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Resources Connection by 14.7% in the first quarter. Bank of New York Mellon Corp now owns 223,311 shares of the company’s stock valued at $833,000 after acquiring an additional 28,650 shares during the last quarter. 93.23% of the stock is currently owned by institutional investors and hedge funds.
Resources Connection Company Profile
Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.
RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.
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