Truist Financial Upgrades Robert Half (NYSE:RHI) to Buy

Robert Half (NYSE:RHI) was upgraded by equities researchers at Truist Financial from a “hold” rating to a “buy” rating in a report issued on Friday, MarketBeat reports. The brokerage presently has a $90.00 target price on the business services provider’s stock, up from their previous target price of $62.00. Truist Financial’s price objective suggests a potential upside of 18.27% from the company’s previous close.

Separately, JPMorgan Chase & Co. dropped their price target on Robert Half from $70.00 to $69.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $73.67.

Robert Half Trading Up 0.8 %

NYSE RHI opened at $76.10 on Friday. The business’s 50-day moving average price is $71.62 and its 200 day moving average price is $66.41. Robert Half has a twelve month low of $57.05 and a twelve month high of $88.39. The company has a market capitalization of $7.86 billion, a PE ratio of 27.77 and a beta of 1.24.

Robert Half (NYSE:RHI) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the firm posted $0.90 earnings per share. Robert Half’s revenue was down 6.3% on a year-over-year basis. Equities analysts predict that Robert Half will post 2.45 EPS for the current year.

Insider Transactions at Robert Half

In related news, Director Dirk A. Kempthorne sold 1,032 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $74.35, for a total transaction of $76,729.20. Following the transaction, the director now directly owns 12,310 shares of the company’s stock, valued at approximately $915,248.50. The trade was a 7.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Robert Half

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in Robert Half by 489.4% during the 2nd quarter. Blue Trust Inc. now owns 389 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 323 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Robert Half in the 3rd quarter valued at about $27,000. Private Trust Co. NA grew its stake in shares of Robert Half by 79.7% during the third quarter. Private Trust Co. NA now owns 433 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 192 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Robert Half during the third quarter worth about $34,000. Finally, Family Firm Inc. acquired a new position in shares of Robert Half in the second quarter worth about $45,000. Hedge funds and other institutional investors own 92.41% of the company’s stock.

About Robert Half

Robert Half Inc provides talent solutions and business consulting services in North America, South America, Europe, Asia, and Australia. The company operates through Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti segments. The Contract Talent Solutions segment provides contract engagement professionals in the fields of finance and accounting, technology, marketing and creative, legal and administrative, and customer support.