PRGX Global Inc (NASDAQ:PRGX) Receives Consensus Rating of “Strong Buy” from Brokerages

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

Brokerages have set a 1-year consensus price target of $8.50 for the company and are anticipating that the company will post $0.03 EPS for the current quarter, according to Zacks. Zacks has also given PRGX Global an industry rank of 68 out of 255 based on the ratings given to related companies.

PRGX has been the subject of several recent analyst reports. Zacks Investment Research raised PRGX Global from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. ValuEngine raised PRGX Global from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd.

PRGX stock remained flat at $$5.29 during midday trading on Wednesday. The company’s stock had a trading volume of 338 shares, compared to its average volume of 33,973. The company’s fifty day simple moving average is $5.43 and its 200-day simple moving average is $6.39. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market capitalization of $126.30 million, a PE ratio of 37.79 and a beta of 0.61. PRGX Global has a one year low of $4.51 and a one year high of $9.68.

PRGX Global (NASDAQ:PRGX) last posted its earnings results on Tuesday, July 30th. The business services provider reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.13). The business had revenue of $41.97 million for the quarter, compared to analyst estimates of $44.96 million. PRGX Global had a negative return on equity of 1.86% and a net margin of 0.85%. Equities research analysts forecast that PRGX Global will post -0.03 earnings per share for the current fiscal year.

In other news, Director Joseph E. Whitters purchased 5,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average cost of $5.97 per share, for a total transaction of $29,850.00. Following the completion of the transaction, the director now directly owns 130,653 shares in the company, valued at approximately $779,998.41. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ronald E. Stewart purchased 10,000 shares of the stock in a transaction dated Monday, August 26th. The shares were purchased at an average price of $5.01 per share, with a total value of $50,100.00. The disclosure for this purchase can be found here. Company insiders own 17.75% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teton Advisors Inc. boosted its position in shares of PRGX Global by 2.5% during the second quarter. Teton Advisors Inc. now owns 164,019 shares of the business services provider’s stock worth $1,102,000 after buying an additional 4,000 shares during the period. Northern Trust Corp boosted its holdings in PRGX Global by 1.3% in the second quarter. Northern Trust Corp now owns 245,693 shares of the business services provider’s stock valued at $1,651,000 after purchasing an additional 3,138 shares during the period. BlackRock Inc. boosted its holdings in PRGX Global by 0.3% in the second quarter. BlackRock Inc. now owns 1,658,623 shares of the business services provider’s stock valued at $11,146,000 after purchasing an additional 5,683 shares during the period. Wells Fargo & Company MN boosted its holdings in PRGX Global by 44.4% in the second quarter. Wells Fargo & Company MN now owns 81,153 shares of the business services provider’s stock valued at $545,000 after purchasing an additional 24,946 shares during the period. Finally, Parametric Portfolio Associates LLC purchased a new position in PRGX Global in the second quarter valued at $96,000. Institutional investors and hedge funds own 73.77% 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 worldwide. Its recovery audit services are based on the mining of clients' purchasing-related data for overpayments to the third-party suppliers.

Read More: How to execute a trade ex-dividend strategy?

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.