JPMorgan Chase & Co. Cuts Robert Half (NYSE:RHI) Price Target to $70.00

Robert Half (NYSE:RHI) had its price target lowered by JPMorgan Chase & Co. from $74.00 to $70.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 18.44% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird lowered their target price on shares of Robert Half from $84.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Truist Financial upgraded 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. StockNews.com cut Robert Half from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. Finally, BNP Paribas upgraded shares of Robert Half from an “underperform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Robert Half presently has a consensus rating of “Hold” and an average target price of $68.88.

Robert Half Trading Down 8.8 %

Shares of NYSE:RHI traded down $5.72 on Thursday, reaching $59.10. The company had a trading volume of 827,275 shares, compared to its average volume of 1,475,942. The firm has a market capitalization of $6.20 billion, a PE ratio of 17.65, a PEG ratio of 5.40 and a beta of 1.25. Robert Half has a 52-week low of $57.16 and a 52-week high of $88.39. The firm’s 50 day simple moving average is $64.80 and its 200-day simple moving average is $72.93.

Robert Half (NYSE:RHI) last announced its earnings results on Wednesday, July 24th. The business services provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). Robert Half had a return on equity of 22.36% and a net margin of 5.74%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. As a group, equities research analysts predict that Robert Half will post 2.92 earnings per share for the current year.

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 that occurred on Wednesday, May 8th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Robert Half

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fidelis Capital Partners LLC acquired a new position in Robert Half during the first quarter valued at $26,000. Blue Trust Inc. grew its position 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 purchasing an additional 323 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Robert Half by 55.0% during the 4th quarter. Venturi Wealth Management LLC now owns 420 shares of the business services provider’s stock valued at $37,000 after buying an additional 149 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Robert Half in the 4th quarter valued at about $46,000. Finally, Versant Capital Management Inc purchased a new stake in shares of Robert Half in the second quarter worth about $35,000. 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.