Quest Resource (NASDAQ:QRHC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Quest Resource (NASDAQ:QRHCGet Rating) in a research report issued to clients and investors on Saturday. The firm set a “hold” rating on the business services provider’s stock.

Several other equities analysts have also commented on QRHC. Zacks Investment Research raised Quest Resource from a “hold” rating to a “strong-buy” rating and set a $5.75 target price for the company in a report on Friday, May 20th. Roth Capital reaffirmed a “buy” rating on shares of Quest Resource in a research report on Friday, March 18th. Craig Hallum started coverage on shares of Quest Resource in a report on Monday, February 14th. They set a “buy” rating and a $13.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating on shares of Quest Resource in a research note on Friday, March 18th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $10.19.

Shares of NASDAQ QRHC opened at $4.42 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.30 and a debt-to-equity ratio of 0.92. The stock’s 50 day moving average price is $5.65 and its two-hundred day moving average price is $6.12. Quest Resource has a 52-week low of $4.33 and a 52-week high of $8.30. The stock has a market capitalization of $84.18 million, a P/E ratio of -49.11, a PEG ratio of 1.26 and a beta of 1.36.

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 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 5.81%. During the same period in the prior year, the company earned $0.06 earnings per share. On average, analysts anticipate that Quest Resource will post 0.27 EPS for the current year.

In related news, major shareholder Wynnefield Partners Small Cap purchased 44,887 shares of Quest Resource stock in a transaction dated Monday, May 9th. The stock was bought at an average cost of $4.90 per share, with a total value of $219,946.30. Following the purchase, the insider now owns 1,151,061 shares in the company, valued at approximately $5,640,198.90. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Barry M. Kitt acquired 36,859 shares of the stock in a transaction that occurred on Friday, April 29th. The shares were bought at an average price of $5.51 per share, for a total transaction of $203,093.09. Following the purchase, the insider now directly owns 2,464,969 shares of the company’s stock, valued at $13,581,979.19. The disclosure for this purchase can be found here. In the last three months, insiders bought 136,519 shares of company stock valued at $733,281. Company insiders own 21.91% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. acquired a new position in Quest Resource during the second quarter worth about $73,000. Geode Capital Management LLC boosted its position in shares of Quest Resource by 33.1% during the 3rd quarter. Geode Capital Management LLC now owns 99,144 shares of the business services provider’s stock valued at $602,000 after purchasing an additional 24,639 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Quest Resource by 12.6% in the 3rd quarter. Renaissance Technologies LLC now owns 380,292 shares of the business services provider’s stock worth $2,320,000 after purchasing an additional 42,600 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Quest Resource by 76.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 82,519 shares of the business services provider’s stock worth $502,000 after purchasing an additional 35,744 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Quest Resource during the third quarter valued at approximately $274,000. Institutional investors and hedge funds own 41.89% of the company’s stock.

About Quest Resource (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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