Zacks Investment Research upgraded shares of Robert Half International Inc. (NYSE:RHI) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The firm currently has $43.00 price objective on the stock.
According to Zacks, “Estimates have largely remained unchanged ahead of the third quarter earnings release. Robert Half reported weaker-than-expected second quarter of 2016 results, possibly due to uncertain macro-economic environment and market volatility. However, both earnings and revenues grew on a year-over-year basis. Robert Half has been witnessing strong year-over-year earnings growth since the past many quarters driven by solid demand for services provided by skilled professionals as well as a growing labor market in the U.S. The recently released 2017 Salary Guides by Robert Half also shows rising demand for skilled professionals. However, the company cannot escape from currency fluctuations. Also, the company is expected to incur higher costs in the near term.”
Other equities research analysts have also recently issued research reports about the company. Deutsche Bank AG started coverage on Robert Half International in a research note on Wednesday, August 17th. They issued a buy rating and a $44.00 target price on the stock. RBC Capital Markets set a $42.00 target price on Robert Half International and gave the company a buy rating in a research note on Wednesday, July 27th. Credit Suisse Group AG restated a hold rating on shares of Robert Half International in a research note on Monday, June 27th. BMO Capital Markets cut Robert Half International from an outperform rating to a market perform rating and cut their target price for the company from $45.00 to $36.00 in a research note on Wednesday, July 27th. Finally, Macquarie started coverage on Robert Half International in a research report on Thursday, August 25th. They set a neutral rating and a $43.00 price target on the stock. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $44.87.
Robert Half International (NYSE:RHI) opened at 36.70 on Tuesday. The company has a 50 day moving average price of $37.82 and a 200-day moving average price of $39.00. Robert Half International has a 52 week low of $34.34 and a 52 week high of $54.01. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 13.24 and a beta of 1.26.
Robert Half International (NYSE:RHI) last released its earnings results on Wednesday, October 26th. The company reported $0.71 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.71. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Robert Half International had a return on equity of 34.54% and a net margin of 6.79%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 EPS. Equities analysts predict that Robert Half International will post $2.70 earnings per share for the current year.
In related news, insider Robert W. Glass sold 30,061 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $36.93, for a total value of $1,110,152.73. Following the completion of the sale, the insider now directly owns 340,972 shares in the company, valued at approximately $12,592,095.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. GW Henssler & Associates Ltd. increased its stake in Robert Half International by 4.5% in the third quarter. GW Henssler & Associates Ltd. now owns 217,545 shares of the company’s stock valued at $8,236,000 after buying an additional 9,311 shares during the period. Stoneridge Investment Partners LLC increased its stake in Robert Half International by 299.6% in the third quarter. Stoneridge Investment Partners LLC now owns 102,080 shares of the company’s stock valued at $3,865,000 after buying an additional 76,534 shares during the period. World Asset Management Inc increased its stake in Robert Half International by 2.4% in the third quarter. World Asset Management Inc now owns 13,505 shares of the company’s stock valued at $511,000 after buying an additional 315 shares during the period. Stanley Laman Group Ltd. increased its stake in Robert Half International by 8.4% in the third quarter. Stanley Laman Group Ltd. now owns 25,584 shares of the company’s stock valued at $969,000 after buying an additional 1,993 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Robert Half International by 4.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,269 shares of the company’s stock valued at $767,000 after buying an additional 771 shares during the period. Institutional investors and hedge funds own 84.74% of the company’s stock.
Robert Half International Company Profile
Robert Half International Inc provides specialized staffing and risk consulting services. The Company’s divisions are Accountemps, Robert Half Finance & Accounting, OfficeTeam, Robert Half Technology, Robert Half Management Resources, Robert Half Legal, The Creative Group and Protiviti. It operates through three segments: temporary and consultant staffing, permanent placement staffing, and risk consulting and internal audit services.