Robert Half International Inc. (RHI) Rating Lowered to Sell at Zacks Investment Research
Robert Half International Inc. (NYSE:RHI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.
According to Zacks, “Estimates have largely remained unchanged ahead of the third quarter earnings release. Robert Half reported weaker-than-expected second quarter of 2016 results, possibly due to uncertain macro-economic environment and market volatility. However, both earnings and revenues grew on a year-over-year basis. Robert Half has been witnessing strong year-over-year earnings growth since the past many quarters driven by solid demand for services provided by skilled professionals as well as a growing labor market in the U.S. The recently released 2017 Salary Guides by Robert Half also shows rising demand for skilled professionals. However, the company cannot escape from currency fluctuations. Also, the company is expected to incur higher costs in the near term.”
RHI has been the topic of several other reports. Credit Suisse Group AG cut Robert Half International from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $37.00 to $33.00 in a research report on Monday, October 3rd. Deutsche Bank AG assumed coverage on Robert Half International in a research note on Wednesday, August 17th. They set a “buy” rating and a $44.00 price target for the company. Macquarie assumed coverage on Robert Half International in a research note on Thursday, August 25th. They set a “neutral” rating and a $43.00 price target for the company. Northcoast Research lowered Robert Half International from a “neutral” rating to a “sell” rating in a research note on Thursday, September 29th. Finally, BMO Capital Markets lowered Robert Half International from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $45.00 to $36.00 in a research note on Wednesday, July 27th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Robert Half International currently has an average rating of “Hold” and a consensus price target of $45.53.
Robert Half International (NYSE:RHI) opened at 38.06 on Monday. The stock has a 50 day moving average price of $37.84 and a 200-day moving average price of $39.30. Robert Half International has a 12-month low of $34.34 and a 12-month high of $54.01. The firm has a market capitalization of $4.89 billion, a PE ratio of 13.63 and a beta of 1.26.
Robert Half International (NYSE:RHI) last posted its earnings results on Tuesday, July 26th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.73 by $0.02. Robert Half International had a net margin of 6.94% and a return on equity of 35.42%. The business earned $1.34 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. The firm’s revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts forecast that Robert Half International will post $2.75 EPS for the current year.
In other Robert Half International news, insider Robert W. Glass sold 30,061 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $36.93, for a total value of $1,110,152.73. Following the sale, the insider now owns 340,972 shares in the company, valued at $12,592,095.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of RHI. Bank of Montreal Can bought a new stake in shares of Robert Half International during the second quarter worth $37,277,000. Retirement Systems of Alabama raised its stake in shares of Robert Half International by 14.8% in the second quarter. Retirement Systems of Alabama now owns 392,024 shares of the company’s stock worth $14,960,000 after buying an additional 50,550 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Robert Half International by 45.7% in the first quarter. Renaissance Technologies LLC now owns 1,049,000 shares of the company’s stock worth $48,862,000 after buying an additional 328,800 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Robert Half International by 495.9% in the second quarter. Acadian Asset Management LLC now owns 20,743 shares of the company’s stock worth $793,000 after buying an additional 17,262 shares in the last quarter. Finally, PGGM Investments bought a new stake in shares of Robert Half International during the second quarter worth $30,624,000. Hedge funds and other institutional investors own 85.08% of the company’s stock.
Robert Half International Company Profile
Robert Half International Inc provides specialized staffing and risk consulting services. The Company’s divisions are Accountemps, Robert Half Finance & Accounting, OfficeTeam, Robert Half Technology, Robert Half Management Resources, Robert Half Legal, The Creative Group and Protiviti. It operates through three segments: temporary and consultant staffing, permanent placement staffing, and risk consulting and internal audit services.
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