Zacks: PRGX Global Inc (NASDAQ:PRGX) Given Average Recommendation of “Strong Buy” by Brokerages

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

Brokerages have set a 12-month consensus target price of $12.50 for the company and are anticipating that the company will post ($0.05) EPS for the current quarter, according to Zacks. Zacks has also given PRGX Global an industry rank of 195 out of 256 based on the ratings given to its competitors.

PRGX has been the subject of several recent research reports. B. Riley set a $12.00 target price on shares of PRGX Global and gave the company a “buy” rating in a research note on Friday, March 8th. Barrington Research reissued a “buy” rating and set a $13.00 target price on shares of PRGX Global in a research note on Monday, April 29th. ValuEngine raised shares of PRGX Global from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. TheStreet lowered shares of PRGX Global from a “b” rating to a “c” rating in a research note on Wednesday, May 1st. Finally, Zacks Investment Research lowered shares of PRGX Global from a “buy” rating to a “hold” rating in a research note on Saturday, March 9th.

In other news, Director Matthew A. Drapkin purchased 5,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were acquired at an average price of $7.48 per share, for a total transaction of $37,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ronald E. Stewart purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average price of $7.70 per share, for a total transaction of $77,000.00. The disclosure for this purchase can be found here. Insiders have bought 29,000 shares of company stock worth $210,580 in the last 90 days. 17.75% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in PRGX. Thomson Horstmann & Bryant Inc. raised its holdings in shares of PRGX Global by 10.6% during the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 1,091,799 shares of the business services provider’s stock valued at $10,339,000 after acquiring an additional 104,402 shares during the period. THB Asset Management raised its holdings in shares of PRGX Global by 8.6% during the first quarter. THB Asset Management now owns 1,185,899 shares of the business services provider’s stock valued at $9,392,000 after acquiring an additional 94,100 shares during the period. Martingale Asset Management L P acquired a new stake in shares of PRGX Global during the first quarter valued at approximately $264,000. Dimensional Fund Advisors LP raised its holdings in shares of PRGX Global by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 823,978 shares of the business services provider’s stock valued at $7,803,000 after acquiring an additional 22,375 shares during the period. Finally, Wedge Capital Management L L P NC raised its holdings in shares of PRGX Global by 18.3% during the first quarter. Wedge Capital Management L L P NC now owns 102,722 shares of the business services provider’s stock valued at $814,000 after acquiring an additional 15,885 shares during the period. Institutional investors and hedge funds own 75.37% of the company’s stock.

PRGX stock opened at $6.72 on Friday. PRGX Global has a 12 month low of $5.75 and a 12 month high of $10.02. The firm has a market capitalization of $138.60 million, a price-to-earnings ratio of 48.00, a PEG ratio of 1.87 and a beta of 0.67. The company’s 50 day simple moving average is $6.81. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.63.

PRGX Global (NASDAQ:PRGX) last released its earnings results on Tuesday, April 30th. The business services provider reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.08). PRGX Global had a net margin of 1.64% and a return on equity of 0.23%. The business had revenue of $38.80 million for the quarter, compared to analyst estimates of $38.86 million. Equities analysts forecast that PRGX Global will post 0.21 earnings per share for the current year.

PRGX Global Company Profile

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.

Further Reading: How do candlesticks reflect price movement?

Get a free copy of the Zacks research report on PRGX Global (PRGX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for PRGX Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PRGX Global and related companies with MarketBeat.com's FREE daily email newsletter.