PRGX Global (PRGX) Raised to Buy at ValuEngine

ValuEngine upgraded shares of PRGX Global (NASDAQ:PRGX) from a hold rating to a buy rating in a report published on Friday, ValuEngine reports.

A number of other brokerages have also recently commented on PRGX. Barrington Research reiterated a buy rating and issued a $13.00 price target on shares of PRGX Global in a research note on Monday, April 29th. B. Riley set a $12.00 price target on PRGX Global and gave the company a buy rating in a research note on Friday, March 8th. Finally, Zacks Investment Research cut PRGX Global from a buy rating to a hold rating in a research note on Saturday, March 9th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $12.00.

Shares of PRGX opened at $7.65 on Friday. PRGX Global has a 52 week low of $7.17 and a 52 week high of $10.20. The firm has a market capitalization of $180.47 million, a PE ratio of 54.64, a PEG ratio of 2.10 and a beta of 0.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.81 and a quick ratio of 1.81.

PRGX Global (NASDAQ:PRGX) last announced its quarterly earnings results on Tuesday, April 30th. The business services provider reported ($0.19) EPS for the quarter, missing the Zacks’ 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 firm had revenue of $38.80 million during the quarter, compared to the consensus estimate of $38.86 million. As a group, analysts expect that PRGX Global will post 0.21 EPS for the current year.

In related news, Director Matthew A. Drapkin bought 25,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $8.42 per share, with a total value of $210,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.10% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA bought a new position in PRGX Global during the 1st quarter worth $35,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of PRGX Global in the 1st quarter worth about $160,000. Bank of America Corp DE raised its position in shares of PRGX Global by 20.2% in the 4th quarter. Bank of America Corp DE now owns 24,312 shares of the business services provider’s stock worth $230,000 after acquiring an additional 4,078 shares in the last quarter. Rhumbline Advisers raised its position in shares of PRGX Global by 53.3% in the 4th quarter. Rhumbline Advisers now owns 26,633 shares of the business services provider’s stock worth $252,000 after acquiring an additional 9,262 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of PRGX Global by 89.2% in the 3rd quarter. Wells Fargo & Company MN now owns 43,663 shares of the business services provider’s stock worth $380,000 after acquiring an additional 20,582 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

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.

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