Institutional Investor Sentiment About Resources Connection Inc (NASDAQ:RECN) Up

June 12, 2018 - By Rusty Cady

Resources Connection, Inc. (NASDAQ:RECN) Logo

Sentiment for Resources Connection Inc (NASDAQ:RECN)

Resources Connection Inc (NASDAQ:RECN) institutional sentiment increased to 1.74 in Q1 2018. Its up 0.88, from 0.86 in 2017Q4. The ratio has increased, as 61 hedge funds opened new or increased equity positions, while 35 reduced and sold equity positions in Resources Connection Inc. The hedge funds in our partner’s database now own: 24.45 million shares, up from 24.23 million shares in 2017Q4. Also, the number of hedge funds holding Resources Connection Inc in their top 10 equity positions was flat from 0 to 0 for the same number . Sold All: 4 Reduced: 31 Increased: 41 New Position: 20.

Resources Connection, Inc. provides agile consulting services in North America, Europe, and the Asia Pacific. The company has market cap of $552.31 million. The firm 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. It has a 27.73 P/E ratio. It also provides information management services, such as program and project management, business and technology integration, data strategy, and business performance management.

The stock increased 1.30% or $0.225 during the last trading session, reaching $17.525. About 58,466 shares traded. Resources Connection, Inc. (NASDAQ:RECN) has risen 27.73% since June 12, 2017 and is uptrending. It has outperformed by 15.16% the S&P500.

Analysts await Resources Connection, Inc. (NASDAQ:RECN) to report earnings on July, 19. They expect $0.28 EPS, up 40.00 % or $0.08 from last year’s $0.2 per share. RECN’s profit will be $8.82M for 15.65 P/E if the $0.28 EPS becomes a reality. After $0.18 actual EPS reported by Resources Connection, Inc. for the previous quarter, Wall Street now forecasts 55.56 % EPS growth.

Grandeur Peak Global Advisors Llc holds 0.57% of its portfolio in Resources Connection, Inc. for 312,829 shares. Palisade Capital Management Llc Nj owns 949,641 shares or 0.52% of their US portfolio. Moreover, River Road Asset Management Llc has 0.33% invested in the company for 1.00 million shares. The Oregon-based Pacific Ridge Capital Partners Llc has invested 0.28% in the stock. Brandes Investment Partners Lp, a California-based fund reported 735,283 shares.

Since January 1, 0001, it had 0 buys, and 1 sale for $95,232 activity.

Resources Connection, Inc. (NASDAQ:RECN) Ratings Coverage

Ratings analysis reveals 0 of Resources Connection’s analysts are positive. Out of 3 Wall Street analysts rating Resources Connection, 0 give it “Buy”, 2 “Sell” rating, while 1 recommend “Hold”. The lowest target is $16.0 while the high is $1700. The stock’s average target of $16.50 is -5.85% below today’s ($17.525) share price. RECN was included in 4 notes of analysts from January 4, 2018. As per Wednesday, January 3, the company rating was maintained by Robert W. Baird. The rating was downgraded by J.P. Morgan on Thursday, January 4 to “Sell”. The firm earned “Hold” rating on Wednesday, April 4 by Robert W. Baird. JP Morgan downgraded the shares of RECN in report on Thursday, January 4 to “Underweight” rating.

Another recent and important Resources Connection, Inc. (NASDAQ:RECN) news was published by which published an article titled: “Resources Global Professionals and WonderBotz LLP Announce Strategic Alliance in Robotic Process Automation” on May 21, 2018.

Resources Connection, Inc. (NASDAQ:RECN) Institutional Positions Chart

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