Deutsche Bank Initiates Coverage on Resources Connection to Sell

Deutsche Bank Initiates Coverage on Resources Connection(NASDAQ:RECN). The shares have been rated Sell. The rating by Deutsche Bank was issued on Aug 18, 2016.

Resources Connection (RECN) made into the market gainers list on Mondays trading session with the shares advancing 0.53% or 0.08 points. Due to strong positive momentum, the stock ended at $15.16, which is also near the day’s high of $15.25. The stock began the session at $15.11 and the volume stood at 1,04,192 shares. The 52-week high of the shares is $18.71 and the 52 week low is $12.3. The company has a current market capitalization of $549 M and it has 3,62,45,851 shares in outstanding.

Resources Connection has also declared a cash dividend of $0.1100 on Aug 2, 2016. The shares will quote ex-dividend on Sep 22, 2016 and the record date has been fixed on Sep 24, 2016. The dividend payable date has been fixed on Sep 21, 2016.

Resources Connection(RECN) last announced its earnings results on Jul 14, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $152.51M. Analysts had an estimated revenue of $150.85M. Earnings per share were $0.23. Analysts had estimated an EPS of $0.21.

Several Insider Transactions has been reported to the SEC. On May 12, 2016, Anne Shih (director) sold 2,430 shares at $15.08 per share price.Also, 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.

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