Blurbs

J.P. Morgan Sticks to Its Sell Rating for Resources Connection (RGP)

In a report released yesterday, Andrew Steinerman from J.P. Morgan maintained a Sell rating on Resources Connection (RGPResearch Report), with a price target of $19.00. The company’s shares closed yesterday at $18.13.

According to TipRanks, Steinerman is a 4-star analyst with an average return of 8.2% and a 54.24% success rate. Steinerman covers the Services sector, focusing on stocks such as ManpowerGroup, Equifax, and Resources Connection.

Resources Connection has an analyst consensus of Moderate Sell, with a price target consensus of $22.00.

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Based on Resources Connection’s latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $217.03 million and a net profit of $20.53 million. In comparison, last year the company earned a revenue of $172.32 million and had a net profit of $23.25 million

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RGP in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Resources Connection Inc. engages in the provision of business consulting services. It offers 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. The company was founded by Donald Brian Murray in June 1996 and is headquartered in Irvine CA.

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