PRGX Global Inc (NASDAQ:PRGX) Given $8.50 Average Target Price by Brokerages

PRGX Global Inc (NASDAQ:PRGX) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.

Brokers have set a 1 year consensus price objective of $8.50 for the company and are anticipating that the company will post $0.03 earnings per share for the current quarter, according to Zacks. Zacks has also assigned PRGX Global an industry rank of 192 out of 256 based on the ratings given to related companies.

A number of brokerages have commented on PRGX. ValuEngine cut PRGX Global from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Zacks Investment Research cut PRGX Global from a “hold” rating to a “strong sell” rating in a research note on Friday, August 2nd.

In other PRGX Global news, CEO Ronald E. Stewart purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average price of $5.01 per share, for a total transaction of $50,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph E. Whitters purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of $5.97 per share, for a total transaction of $29,850.00. Following the purchase, the director now owns 130,653 shares of the company’s stock, valued at approximately $779,998.41. The disclosure for this purchase can be found here. Insiders own 17.75% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA acquired a new position in shares of PRGX Global in the first quarter worth about $35,000. Parametric Portfolio Associates LLC acquired a new position in shares of PRGX Global in the second quarter worth about $96,000. Bank of America Corp DE lifted its stake in shares of PRGX Global by 20.2% in the fourth quarter. Bank of America Corp DE now owns 24,312 shares of the business services provider’s stock worth $230,000 after acquiring an additional 4,078 shares in the last quarter. Martingale Asset Management L P acquired a new position in shares of PRGX Global in the first quarter worth about $264,000. Finally, Wells Fargo & Company MN lifted its stake in shares of PRGX Global by 44.4% in the second quarter. Wells Fargo & Company MN now owns 81,153 shares of the business services provider’s stock worth $545,000 after acquiring an additional 24,946 shares in the last quarter. Institutional investors and hedge funds own 73.77% of the company’s stock.

Shares of PRGX traded up $0.06 during midday trading on Friday, reaching $5.72. 65,947 shares of the company were exchanged, compared to its average volume of 59,566. The stock has a 50-day moving average price of $5.34 and a 200-day moving average price of $6.82. The company has a market cap of $130.31 million, a price-to-earnings ratio of 40.86 and a beta of 0.63. PRGX Global has a 1-year low of $4.51 and a 1-year high of $9.68. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.69.

PRGX Global (NASDAQ:PRGX) last issued its quarterly earnings data on Tuesday, July 30th. The business services provider reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.13). The company had revenue of $41.97 million for the quarter, compared to analyst estimates of $44.96 million. PRGX Global had a negative return on equity of 1.86% and a net margin of 0.85%. Equities research analysts anticipate that PRGX Global will post -0.03 earnings per share for the current year.

About PRGX Global

PRGX Global, Inc, together with its subsidiaries, provides recovery audit services to businesses and government agencies having payment transactions and procurement environments worldwide. Its recovery audit services are based on the mining of clients' purchasing-related data for overpayments to the third-party suppliers.

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