Robert Half (NYSE:RHI) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Robert Half Inc. (NYSE:RHI) passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $33.11 and traded as high as $37.79. Robert Half shares last traded at $36.0230, with a volume of 1,662,304 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RHI shares. The Goldman Sachs Group lifted their price target on shares of Robert Half from $26.00 to $29.00 and gave the stock a “sell” rating in a research report on Friday, July 24th. Robert W. Baird set a $47.00 price objective on shares of Robert Half in a report on Monday, July 27th. BMO Capital Markets raised shares of Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 price objective on the stock in a research note on Monday, July 27th. Truist Financial lifted their target price on shares of Robert Half from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, Zacks Research upgraded shares of Robert Half from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Robert Half has an average rating of “Hold” and a consensus target price of $34.75.

Robert Half Trading Down 4.7%

The company has a market capitalization of $3.69 billion, a P/E ratio of 31.32 and a beta of 0.84. The business has a 50 day moving average price of $40.49 and a 200 day moving average price of $33.11.

Robert Half (NYSE:RHI) last issued its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Robert Half had a net margin of 2.17% and a return on equity of 9.18%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 earnings per share. On average, analysts forecast that Robert Half Inc. will post 1.27 EPS for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, August 25th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend was Tuesday, August 25th. Robert Half’s payout ratio is presently 205.22%.

Institutional Trading of Robert Half

A number of large investors have recently bought and sold shares of RHI. Elevation Wealth Partners LLC increased its position in shares of Robert Half by 605.6% during the second quarter. Elevation Wealth Partners LLC now owns 1,136 shares of the business services provider’s stock worth $35,000 after acquiring an additional 975 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Robert Half during the second quarter worth about $39,000. Quantbot Technologies LP acquired a new stake in Robert Half in the 2nd quarter valued at approximately $39,000. Global Retirement Partners LLC acquired a new position in Robert Half during the 2nd quarter worth approximately $44,000. Finally, Basecamp Wealth Advisors LLC raised its holdings in shares of Robert Half by 19.4% in the first quarter. Basecamp Wealth Advisors LLC now owns 2,164 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 351 shares during the last quarter. 92.41% of the stock is owned by institutional investors.

Robert Half Company Profile

Robert Half Inc (NYSE: RHI) is a specialized staffing and professional services company that connects employers with skilled talent for temporary, contract-to-hire and permanent positions. Its staffing operations serve areas including accounting and finance, technology, legal, administrative and customer support, marketing, and creative services.

The company also provides consulting and project-based services through Protiviti, its global consulting subsidiary. Protiviti advises organizations on internal audit, risk and compliance, technology, cybersecurity, digital transformation, finance, and business performance.