TheStreet Lowers Resources Connection (RECN) to C+

TheStreet cut shares of Resources Connection (NASDAQ:RECN) from a b rating to a c+ rating in a report issued on Thursday morning.

RECN has been the subject of a number of other research reports. BidaskClub raised shares of Resources Connection from a hold rating to a buy rating in a report on Wednesday, March 21st. Robert W. Baird reaffirmed a hold rating and issued a $17.00 price objective on shares of Resources Connection in a report on Thursday, April 5th. Zacks Investment Research raised shares of Resources Connection from a hold rating to a buy rating and set a $17.00 price objective for the company in a report on Wednesday, February 7th. Finally, JPMorgan Chase downgraded shares of Resources Connection from a neutral rating to an underweight rating and set a $16.00 price objective for the company. in a report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $16.00.

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Shares of RECN stock traded up $0.05 during mid-day trading on Thursday, reaching $15.75. 12,529 shares of the company were exchanged, compared to its average volume of 142,298. Resources Connection has a fifty-two week low of $12.05 and a fifty-two week high of $17.00. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $494.79, a P/E ratio of 24.53 and a beta of 1.13.



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

In other Resources Connection news, Director Michael H. Wargotz sold 6,200 shares of Resources Connection stock in a transaction 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 transaction, the director now owns 29,073 shares of the company’s stock, valued at $446,561.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 11.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in RECN. Russell Investments Group Ltd. acquired a new position in shares of Resources Connection during the third quarter valued at $164,000. SG Americas Securities LLC acquired a new position in shares of Resources Connection during the third quarter valued at $153,000. JPMorgan Chase & Co. boosted its holdings in shares of Resources Connection by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 244,194 shares of the business services provider’s stock valued at $3,346,000 after acquiring an additional 11,033 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Resources Connection by 39.9% during the third quarter. Wells Fargo & Company MN now owns 35,147 shares of the business services provider’s stock valued at $489,000 after acquiring an additional 10,021 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Resources Connection by 10.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 348,705 shares of the business services provider’s stock valued at $4,847,000 after acquiring an additional 31,910 shares during the period. 80.21% of the stock is owned by institutional investors.

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Resources Connection Company Profile

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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