Robert Half (NYSE:RHI) Price Target Cut to $62.00 by Analysts at Truist Financial

Robert Half (NYSE:RHI) had its target price trimmed by Truist Financial from $72.00 to $62.00 in a report released on Friday morning, Benzinga reports. The firm currently has a hold rating on the business services provider’s stock.

A number of other equities analysts have also issued reports on the stock. StockNews.com lowered shares of Robert Half from a buy rating to a hold rating in a research report on Friday, July 5th. BMO Capital Markets reduced their target price on shares of Robert Half from $72.00 to $64.00 and set a market perform rating for the company in a report on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Robert Half from $74.00 to $70.00 and set a neutral rating on the stock in a report on Thursday. BNP Paribas upgraded Robert Half from an underperform rating to an outperform rating and set a $80.00 price objective for the company in a research note on Tuesday, June 11th. Finally, Robert W. Baird lowered their target price on Robert Half from $84.00 to $79.00 and set an outperform rating on the stock in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $66.00.

Robert Half Trading Up 4.0 %

NYSE RHI opened at $62.31 on Friday. The stock has a market cap of $6.54 billion, a P/E ratio of 18.66, a P/E/G ratio of 5.04 and a beta of 1.25. Robert Half has a 12-month low of $57.05 and a 12-month high of $88.39. The company has a fifty day simple moving average of $64.40 and a two-hundred day simple moving average of $72.69.

Robert Half (NYSE:RHI) last issued its earnings results on Wednesday, July 24th. The business services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). Robert Half had a return on equity of 20.41% and a net margin of 5.26%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the business earned $1.00 EPS. The business’s revenue was down 10.2% on a year-over-year basis. As a group, sell-side analysts forecast that Robert Half will post 2.89 earnings per share for the current year.

Robert Half Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 24th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.12 annualized dividend and a dividend yield of 3.40%. Robert Half’s dividend payout ratio is presently 63.47%.

Insider Buying and Selling at Robert Half

In other news, Director Dirk A. Kempthorne sold 2,221 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $69.66, for a total transaction of $154,714.86. Following the completion of the transaction, the director now directly owns 10,713 shares of the company’s stock, valued at approximately $746,267.58. The sale was disclosed in a filing with the SEC, which is available at this link. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RHI. Blue Trust Inc. increased its stake in Robert Half by 489.4% during the 2nd quarter. Blue Trust Inc. now owns 389 shares of the business services provider’s stock worth $25,000 after buying an additional 323 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Robert Half in the first quarter worth approximately $26,000. Versant Capital Management Inc acquired a new stake in shares of Robert Half in the second quarter worth approximately $35,000. Venturi Wealth Management LLC increased its position in shares of Robert Half by 55.0% during the fourth quarter. Venturi Wealth Management LLC now owns 420 shares of the business services provider’s stock worth $37,000 after purchasing an additional 149 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in Robert Half in the 2nd quarter valued at $45,000. Institutional investors and hedge funds 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.