Zacks Investment Research Upgrades Quest Resource (NASDAQ:QRHC) to Strong-Buy

Quest Resource (NASDAQ:QRHCGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday, Zacks.com reports. The firm currently has a $5.75 target price on the business services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 15.00% from the stock’s previous close.

According to Zacks, “Quest Resource Holding Corporation is an environmental consulting and management company. It offers programs for recycling motor oil, oil filters, scrap tires, grease and cooking oil, expired food products, glass, cardboards, paper, metals, plastic oil bottles, hazardous materials, high density polyethylene plastics, organics, construction debris, batteries, mercury, lights, regulated medical waste, electronics, parts cleaners, used absorbents and solid waste; industrial cleaning services; landfill diversion services; equipment and installation services; environmental certification services and sustainability programs. The company serves fleet, manufacturing, hospital, retailer and commercial property industries as well as universities. Quest Resource Holding Corporation is based in Frisco, Texas. “

Other analysts have also recently issued research reports about the company. Roth Capital reiterated a “buy” rating on shares of Quest Resource in a research report on Friday, March 18th. HC Wainwright reissued a “buy” rating on shares of Quest Resource in a report on Friday, March 18th. StockNews.com began coverage on Quest Resource in a research report on Friday. They set a “hold” rating for the company. Finally, Craig Hallum initiated coverage on shares of Quest Resource in a report on Monday, February 14th. They issued a “buy” rating and a $13.00 price target for the company. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $10.19.

NASDAQ QRHC opened at $5.00 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $95.23 million, a PE ratio of -55.55, a PEG ratio of 4.09 and a beta of 1.36. The business’s 50-day moving average is $5.88 and its 200 day moving average is $6.16. Quest Resource has a 1 year low of $4.05 and a 1 year high of $8.30.

Quest Resource (NASDAQ:QRHCGet Rating) last issued its quarterly earnings results on Monday, May 16th. The business services provider reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.18). Quest Resource had a negative net margin of 0.85% and a positive return on equity of 5.80%. During the same quarter in the previous year, the firm earned $0.06 EPS. As a group, equities research analysts anticipate that Quest Resource will post 0.09 earnings per share for the current year.

In related news, major shareholder Wynnefield Partners Small Cap acquired 5,855 shares of Quest Resource stock in a transaction that occurred on Wednesday, March 23rd. The shares were purchased at an average price of $6.25 per share, for a total transaction of $36,593.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Barry M. Kitt purchased 36,859 shares of the business’s stock in a transaction dated Friday, April 29th. The shares were purchased at an average price of $5.51 per share, with a total value of $203,093.09. Following the acquisition, the insider now directly owns 2,464,969 shares in the company, valued at $13,581,979.19. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 133,911 shares of company stock valued at $721,806. Insiders own 21.91% of the company’s stock.

A number of institutional investors have recently modified their holdings of QRHC. Advisor Group Holdings Inc. boosted its holdings in Quest Resource by 629.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 9,040 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 7,800 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Quest Resource in the 2nd quarter valued at approximately $73,000. Greenhaven Road Investment Management L.P. acquired a new position in Quest Resource in the 4th quarter valued at $168,000. State Street Corp raised its holdings in Quest Resource by 14.2% during the first quarter. State Street Corp now owns 43,947 shares of the business services provider’s stock worth $270,000 after purchasing an additional 5,462 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Quest Resource during the 3rd quarter worth $274,000. Institutional investors own 41.89% of the company’s stock.

Quest Resource Company Profile (Get Rating)

Quest Resource Holding Corporation, together with its subsidiaries, provides solutions for the reuse, recycling, and disposal of various waste streams and recyclables in the United States. It offers disposal and recycling services for motor oil and automotive lubricants, oil filters, scrap tires, oily water, goods destruction, food waste, meat renderings, cooking oil and grease trap waste, plastics, cardboard, metal, glass, mixed paper, construction debris, as well as a large variety of regulated and non-regulated solid, liquid, and gas wastes.

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