Resources Connection (NASDAQ:RECN) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
Several other brokerages have also issued reports on RECN. Zacks Investment Research upgraded shares of Resources Connection from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Tuesday, January 9th. TheStreet upgraded shares of Resources Connection from a “c+” rating to a “b” rating in a research note on Thursday, January 4th. Robert W. Baird reissued a “hold” rating and set a $15.00 price objective on shares of Resources Connection in a research report on Friday, November 10th. JPMorgan Chase & Co. downgraded shares of Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 price objective on the stock. in a research report on Thursday, January 4th. Finally, Deutsche Bank reissued a “sell” rating and set a $13.00 price objective (up from $12.00) on shares of Resources Connection in a research report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $15.50.
Resources Connection (NASDAQ:RECN) opened at $16.35 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.36 and a quick ratio of 2.36. The stock has a market cap of $492.59, a PE ratio of 28.19 and a beta of 1.18. Resources Connection has a 12 month low of $12.05 and a 12 month high of $17.55.
Several hedge funds and other institutional investors have recently made changes to their positions in RECN. SG Americas Securities LLC purchased a new stake in shares of Resources Connection during the 3rd quarter valued at about $153,000. Municipal Employees Retirement System of Michigan boosted its holdings in shares of 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 valued at $155,000 after acquiring an additional 4,120 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Resources Connection during the 3rd quarter valued at about $164,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Resources Connection by 44.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,303 shares of the business services provider’s stock valued at $169,000 after acquiring an additional 3,761 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Resources Connection during the 3rd quarter valued at about $171,000. 77.77% of the stock is currently owned by hedge funds and other institutional investors.
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Resources Connection Company Profile
Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.
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