PRGX Global (PRGX) Given New $12.00 Price Target at B. Riley

PRGX Global (NASDAQ:PRGX) had its price objective boosted by B. Riley from $11.00 to $12.00 in a research note published on Wednesday. They currently have a buy rating on the business services provider’s stock. B. Riley also issued estimates for PRGX Global’s Q2 2018 earnings at ($0.07) EPS, Q3 2018 earnings at $0.08 EPS, Q4 2018 earnings at $0.27 EPS, FY2018 earnings at $0.18 EPS, Q1 2019 earnings at ($0.12) EPS, Q2 2019 earnings at ($0.05) EPS, Q3 2019 earnings at $0.17 EPS, Q4 2019 earnings at $0.32 EPS and FY2019 earnings at $0.33 EPS.

A number of other brokerages have also recently weighed in on PRGX. ValuEngine upgraded PRGX Global from a buy rating to a strong-buy rating in a research report on Wednesday. Barrington Research reiterated a buy rating on shares of PRGX Global in a research report on Friday, April 27th. Zacks Investment Research upgraded PRGX Global from a hold rating to a buy rating and set a $9.00 price target on the stock in a research report on Tuesday, March 6th. Finally, TheStreet upgraded PRGX Global from a c+ rating to a b+ rating in a research report on Tuesday, March 6th. Two investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. PRGX Global has an average rating of Strong Buy and a consensus target price of $9.50.

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Shares of PRGX traded down $0.30 on Wednesday, reaching $9.35. 48,330 shares of the stock traded hands, compared to its average volume of 71,070. The stock has a market cap of $209.46, a PE ratio of 71.92, a P/E/G ratio of 3.65 and a beta of 0.85. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.22. PRGX Global has a 12 month low of $5.40 and a 12 month high of $10.30.

PRGX Global (NASDAQ:PRGX) last released its quarterly earnings data on Tuesday, May 1st. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The business had revenue of $36.72 million for the quarter, compared to analysts’ expectations of $35.00 million. PRGX Global had a return on equity of 4.69% and a net margin of 1.64%. equities analysts forecast that PRGX Global will post 0.21 earnings per share for the current fiscal year.

In other PRGX Global news, SVP Victor A. Allums sold 38,698 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $8.97, for a total value of $347,121.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 66,701 shares of company stock worth $589,968 over the last quarter. Company insiders own 14.96% of the company’s stock.

A number of large investors have recently made changes to their positions in PRGX. Monashee Investment Management LLC acquired a new position in PRGX Global in the fourth quarter worth $150,000. Cadence Capital Management LLC boosted its stake in PRGX Global by 9.2% in the fourth quarter. Cadence Capital Management LLC now owns 271,621 shares of the business services provider’s stock worth $1,929,000 after purchasing an additional 22,783 shares in the last quarter. Algert Global LLC acquired a new position in PRGX Global in the first quarter worth $770,000. Millennium Management LLC acquired a new position in PRGX Global in the fourth quarter worth $713,000. Finally, Thomson Horstmann & Bryant Inc. boosted its stake in PRGX Global by 44.8% in the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 722,119 shares of the business services provider’s stock worth $5,127,000 after purchasing an additional 223,379 shares in the last quarter. Hedge funds and other institutional investors own 71.42% of the company’s stock.

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. It operates through three segments: Recovery Audit Services ? Americas, Recovery Audit Services – Europe/Asia-Pacific, and Adjacent Services.