Resources Connection (RECN) Upgraded to B at TheStreet

TheStreet upgraded shares of Resources Connection (NASDAQ:RECN) from a c+ rating to a b rating in a research report sent to investors on Thursday.

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research raised shares of Resources Connection from a sell rating to a hold rating in a research report on Thursday, September 21st. Deutsche Bank reissued a sell rating and issued a $13.00 price objective (up previously from $12.00) on shares of Resources Connection in a research report on Friday, October 6th. Robert W. Baird reissued a hold rating and issued a $15.00 price objective on shares of Resources Connection in a research report on Friday, November 10th. BidaskClub lowered shares of Resources Connection from a buy rating to a hold rating in a research report on Tuesday, December 12th. Finally, JPMorgan Chase & Co. lowered shares of Resources Connection from a neutral rating to an underweight rating and set a $16.00 price objective for the company. in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $15.25.

Resources Connection (RECN) opened at $15.75 on Thursday. The company has a current ratio of 5.29, a quick ratio of 2.82 and a debt-to-equity ratio of 0.20. The stock has a market cap of $489.44, a PE ratio of 27.16 and a beta of 1.18. Resources Connection has a 52-week low of $12.05 and a 52-week high of $17.58.

Resources Connection (NASDAQ:RECN) last announced its earnings results on Wednesday, January 3rd. The business services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $156.70 million during the quarter, compared to analysts’ expectations of $152.91 million. Resources Connection had a net margin of 2.98% and a return on equity of 8.25%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 earnings per share. equities analysts expect that Resources Connection will post 0.67 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Wednesday, November 15th. Resources Connection’s dividend payout ratio is presently 82.76%.

Large investors have recently bought and sold shares of the company. State Street Corp grew its holdings in Resources Connection by 4.0% in the second quarter. State Street Corp now owns 869,657 shares of the business services provider’s stock valued at $11,912,000 after purchasing an additional 33,348 shares during the period. AXA purchased a new stake in Resources Connection in the second quarter valued at approximately $1,062,000. Palisade Capital Management LLC NJ grew its holdings in Resources Connection by 1.9% in the third quarter. Palisade Capital Management LLC NJ now owns 939,848 shares of the business services provider’s stock valued at $13,064,000 after purchasing an additional 17,360 shares during the period. Dupont Capital Management Corp purchased a new stake in Resources Connection in the third quarter valued at approximately $979,000. Finally, Grandeur Peak Global Advisors LLC purchased a new stake in Resources Connection in the second quarter valued at approximately $327,000. 80.99% of the stock is owned by institutional investors and hedge funds.

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About Resources Connection

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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