Resources Connection (RECN) is Initiated by Deutsche Bank to Sell, Price Target at $13

Resources Connection (RECN) was Initiated by Deutsche Bank to “Sell” and the brokerage firm has set the Price Target at $13. Deutsche Bank advised their investors in a research report released on Aug 18, 2016.

On the company’s financial health, Resources Connection reported $0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 14, 2016. Analyst had a consensus of $0.21. The company had revenue of $152.50 million for the quarter, compared to analysts expectations of $150.85 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS.

Resources Connection (RECN) witnessed a volatile trading activity on Wednesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $15.28 and reached the intraday high at $15.47. The bulls started the profit booking and pushed the shares to intraday low of $15.27. The trading session was marked by a volume range of 1,03,788 shares exchanging hands. The 52-week high of the shares is $18.71 and the 52-week low is $12.3. The market cap of the company stands at $555 M and there are 3,62,45,851 shares in public circulation.

Investors should note that on Aug 2, 2016, Resources Connection announced a cash dividend of $0.1100. The company’s management has announced Sep 22, 2016 as the ex-dividend date and fixed the record date on Sep 24, 2016. The payable date has been fixed on Sep 21, 2016.

In a different news, on May 12, 2016, Anne Shih (director) sold 2,430 shares at $15.08 per share price. According to the SEC, on Jan 8, 2016, Anthony Cherbak (CEO) purchased 2,000 shares at $14.00 per share price. On Oct 13, 2015, Tracy B Stephens (EVP & COO) sold 18,000 shares at $17.04 per share price, according to the Form-4 filing with the securities and exchange commission.

Resources Connection Inc. is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). It provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance risk and compliance management; corporate advisory strategic communications and restructuring; information management; human capital; supply chain management; healthcare solutions and legal and regulatory. It provides its services and solutions to a client base in a range of industries. Its information management practice provides planning and execution services in four primary areas: program and project management; business and technology integration; data strategy and management and information technology (IT) strategy and advisory. The two primary areas of its human capital practice are change management/business transformation and human resources operations.

Resources Connection

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Resources Connection - Is it time to Sell?

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