Adecco (OTCMKTS:AHEXY) Shares Up 6.2% – Here’s What Happened

Adecco SA (OTCMKTS:AHEXY)’s share price was up 6.2% during mid-day trading on Thursday . The company traded as high as $11.66 and last traded at $11.66. Approximately 741 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 24,081 shares. The stock had previously closed at $10.98.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AHEXY shares. Morgan Stanley cut Adecco from a “cautious” rating to an “underweight” rating in a report on Tuesday, June 9th. Zacks Research raised shares of Adecco from a “strong sell” rating to a “hold” rating in a research note on Monday. Citigroup lowered shares of Adecco from a “strong-buy” rating to a “neutral” rating in a report on Thursday, April 30th. Finally, UBS Group downgraded Adecco from a “hold” rating to a “sell” rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Adecco Price Performance

The company has a debt-to-equity ratio of 0.73, a current ratio of 1.06 and a quick ratio of 1.06. The company’s 50-day simple moving average is $10.10 and its 200-day simple moving average is $12.10. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 0.94 and a beta of 0.98.

Adecco (OTCMKTS:AHEXY) last posted its earnings results on Wednesday, May 13th. The business services provider reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Adecco had a net margin of 1.31% and a return on equity of 12.09%. On average, equities research analysts anticipate that Adecco SA will post 1.41 EPS for the current year.

About Adecco

Adecco Group AG is a global human resources and workforce solutions provider headquartered in Zurich, Switzerland. The company specializes in temporary staffing, permanent placement, career transition, and talent development services. Its core business activities include matching job seekers with client companies, managing contingent workforce solutions, and offering consulting services related to workforce management and organizational effectiveness.

Founded in 1996 through the merger of the Swiss companies Adia Interim and ECCO, Adecco has grown into one of the world’s largest staffing firms.