Trading Report: The Robert Half International Inc. (RHI) Downgraded by Zacks Investment Research to “Sell”

The Robert Half International Inc. (RHI) Downgraded by Zacks Investment Research to “Sell”

Robert Half International Inc. (NYSE:RHI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

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.”

A number of other brokerages have also issued reports on RHI. BMO Capital Markets lowered Robert Half International from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $45.00 to $36.00 in a report on Wednesday, July 27th. Bank of America Corp. lowered Robert Half International from a “buy” rating to a “neutral” rating and set a $44.00 price objective for the company. in a report on Wednesday, July 13th. Northcoast Research lowered Robert Half International from a “neutral” rating to a “sell” rating in a report on Thursday, September 29th. Macquarie initiated coverage on Robert Half International in a report on Thursday, August 25th. They issued a “neutral” rating and a $43.00 price objective for the company. Finally, RBC Capital Markets set a $42.00 price objective on Robert Half International and gave the stock a “buy” rating in a report on Wednesday, July 27th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $45.53.

Robert Half International (NYSE:RHI) traded down 0.562% during trading on Monday, reaching $38.025. The company’s stock had a trading volume of 311,203 shares. Robert Half International has a 52 week low of $34.34 and a 52 week high of $54.01. The firm has a 50-day moving average price of $37.86 and a 200-day moving average price of $39.52. The firm has a market capitalization of $4.89 billion, a P/E ratio of 13.619 and a beta of 1.26.

Robert Half International (NYSE:RHI) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by $0.02. Robert Half International had a return on equity of 35.42% and a net margin of 6.94%. The business earned $1.34 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company earned $0.67 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities analysts anticipate that Robert Half International will post $2.75 EPS for the current fiscal year.

In other news, insider Robert W. Glass sold 30,061 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $36.93, for a total transaction of $1,110,152.73. Following the completion of the sale, the insider now owns 340,972 shares in the company, valued at approximately $12,592,095.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.40% of the company’s stock.

Several large investors have recently made changes to their positions in RHI. UBS Asset Management Americas Inc. increased its stake in shares of Robert Half International by 1.5% in the first quarter. UBS Asset Management Americas Inc. now owns 787,331 shares of the company’s stock worth $36,674,000 after buying an additional 11,601 shares during the period. State Street Corp raised its stake in Robert Half International by 0.7% in the first quarter. State Street Corp now owns 5,436,962 shares of the company’s stock worth $253,274,000 after buying an additional 35,909 shares during the last quarter. Zebra Capital Management LLC raised its stake in Robert Half International by 30.7% in the first quarter. Zebra Capital Management LLC now owns 24,591 shares of the company’s stock worth $1,145,000 after buying an additional 5,775 shares during the last quarter. BB&T Securities LLC raised its stake in Robert Half International by 11.9% in the first quarter. BB&T Securities LLC now owns 7,899 shares of the company’s stock worth $367,000 after buying an additional 840 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Robert Half International by 87.1% in the first quarter. Canada Pension Plan Investment Board now owns 545,048 shares of the company’s stock worth $25,388,000 after buying an additional 253,800 shares during the last quarter. Institutional investors own 85.08% of the company’s stock.

About Robert Half International

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.

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