Robert Half (NYSE:RHI) Stock Rating Upgraded by Truist Financial

Robert Half (NYSE:RHI) was upgraded by investment analysts at Truist Financial from a “sell” rating to a “hold” rating in a note issued to investors on Monday, Marketbeat reports. The brokerage currently has a $72.00 target price on the business services provider’s stock. Truist Financial’s target price would suggest a potential upside of 0.67% from the company’s current price.

Separately, BMO Capital Markets decreased their price target on shares of Robert Half from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $68.57.

Robert Half Price Performance

Shares of RHI stock opened at $71.52 on Monday. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 17.51 and a beta of 1.26. Robert Half has a one year low of $64.65 and a one year high of $88.39. The company’s fifty day moving average price is $77.80 and its 200-day moving average price is $79.58.

Robert Half (NYSE:RHI) last announced its quarterly earnings data on Tuesday, January 30th. The business services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.47 billion. Robert Half had a net margin of 6.43% and a return on equity of 25.73%. The company’s revenue was down 14.7% on a year-over-year basis. During the same period last year, the firm earned $1.37 EPS. Equities research analysts expect that Robert Half will post 3.34 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Robert W. Glass sold 7,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $80.46, for a total transaction of $603,450.00. Following the sale, the executive vice president now directly owns 186,062 shares in the company, valued at approximately $14,970,548.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Robert Half

Several hedge funds have recently made changes to their positions in RHI. Mawer Investment Management Ltd. purchased a new stake in shares of Robert Half during the 3rd quarter valued at about $106,840,000. Capital World Investors raised its position in Robert Half by 6.7% in the 4th quarter. Capital World Investors now owns 14,574,944 shares of the business services provider’s stock worth $1,281,429,000 after purchasing an additional 917,311 shares during the period. Boston Partners raised its position in Robert Half by 61.5% in the 3rd quarter. Boston Partners now owns 2,395,745 shares of the business services provider’s stock worth $175,400,000 after purchasing an additional 911,969 shares during the period. Norges Bank purchased a new stake in Robert Half in the 4th quarter worth about $73,311,000. Finally, Pzena Investment Management LLC purchased a new stake in Robert Half in the 4th quarter worth about $26,419,000. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

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.