Robert Half (NYSE:RHI) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Robert Half (NYSE:RHI) from a buy rating to a hold rating in a report published on Friday morning.

A number of other brokerages also recently weighed in on RHI. Robert W. Baird lowered their target price on shares of Robert Half from $84.00 to $79.00 and set an outperform rating on the stock in a research note on Friday, April 26th. Truist Financial raised shares of Robert Half from a sell rating to a hold rating and set a $72.00 target price on the stock in a research note on Monday, April 22nd. Finally, BNP Paribas raised shares of Robert Half from an underperform rating to an outperform rating and set a $80.00 target price on the stock in a research note on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $68.71.

Robert Half Trading Up 1.6 %

Shares of Robert Half stock opened at $64.29 on Friday. Robert Half has a 12-month low of $61.07 and a 12-month high of $88.39. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 5.16 and a beta of 1.25. The company’s 50-day moving average price is $66.17 and its 200-day moving average price is $74.68.

Robert Half (NYSE:RHI) last announced its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Robert Half had a net margin of 5.74% and a return on equity of 22.36%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted $1.14 earnings per share. The company’s revenue for the quarter was down 14.0% on a year-over-year basis. On average, sell-side analysts predict that Robert Half will post 2.92 earnings per share for the current year.

Robert Half Dividend Announcement

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. This represents a $2.12 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Thursday, May 23rd. Robert Half’s payout ratio is 63.47%.

Insider Buying and Selling

In other Robert Half news, Director Dirk A. Kempthorne sold 2,221 shares of the firm’s stock in a transaction 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 owns 10,713 shares of the company’s stock, valued at $746,267.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Robert Half

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in shares of Robert Half by 35.1% in the 4th quarter. Franklin Resources Inc. now owns 253,968 shares of the business services provider’s stock worth $22,329,000 after purchasing an additional 66,049 shares during the last quarter. Twin Capital Management Inc. raised its position in shares of Robert Half by 38.7% in the 4th quarter. Twin Capital Management Inc. now owns 7,700 shares of the business services provider’s stock worth $677,000 after purchasing an additional 2,148 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Robert Half by 34.0% in the 4th quarter. Mackenzie Financial Corp now owns 53,265 shares of the business services provider’s stock worth $4,683,000 after purchasing an additional 13,503 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Robert Half by 68.1% in the 4th quarter. Nordea Investment Management AB now owns 46,632 shares of the business services provider’s stock worth $4,092,000 after purchasing an additional 18,892 shares during the last quarter. Finally, Boston Partners raised its position in shares of Robert Half by 36.5% in the 4th quarter. Boston Partners now owns 3,270,365 shares of the business services provider’s stock worth $287,265,000 after purchasing an additional 874,620 shares during the last quarter. 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.