PRGX Global Inc (NASDAQ:PRGX) Given $8.50 Average Target Price by Analysts

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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 equities research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus target price of $8.50 for the company and are predicting 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 177 out of 256 based on the ratings given to its competitors.

PRGX has been the subject of several research analyst reports. Zacks Investment Research cut PRGX Global from a “hold” rating to a “strong sell” rating in a report on Friday, August 2nd. ValuEngine cut PRGX Global from a “buy” rating to a “hold” rating in a report on Saturday, September 14th.

Shares of NASDAQ:PRGX traded up $0.31 during trading on Friday, hitting $5.83. 718 shares of the company’s stock were exchanged, compared to its average volume of 65,513. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.97 and a quick ratio of 1.97. PRGX Global has a 52-week low of $4.51 and a 52-week high of $9.68. The business’s 50-day simple moving average is $5.35 and its 200 day simple moving average is $6.86. The company has a market cap of $131.02 million, a price-to-earnings ratio of 41.50 and a beta of 0.63.

PRGX Global (NASDAQ:PRGX) last released 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). PRGX Global had a negative return on equity of 1.86% and a net margin of 0.85%. The business had revenue of $41.97 million for the quarter, compared to analysts’ expectations of $44.96 million. On average, sell-side analysts anticipate that PRGX Global will post -0.03 EPS for the current fiscal year.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of PRGX Global by 0.3% in the 2nd quarter. BlackRock Inc. now owns 1,658,623 shares of the business services provider’s stock worth $11,146,000 after acquiring an additional 5,683 shares in the last quarter. Parametric Portfolio Associates LLC bought a new position in shares of PRGX Global in the 2nd quarter worth $96,000. Northern Trust Corp raised its position in shares of PRGX Global by 1.3% in the 2nd quarter. Northern Trust Corp now owns 245,693 shares of the business services provider’s stock worth $1,651,000 after acquiring an additional 3,138 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of PRGX Global by 44.4% in the 2nd quarter. Wells Fargo & Company MN now owns 81,153 shares of the business services provider’s stock worth $545,000 after acquiring an additional 24,946 shares in the last quarter. Finally, Teton Advisors Inc. raised its position in shares of PRGX Global by 2.5% in the 2nd quarter. Teton Advisors Inc. now owns 164,019 shares of the business services provider’s stock worth $1,102,000 after acquiring an additional 4,000 shares in the last quarter. 73.77% of the stock is owned by hedge funds and other institutional investors.

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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