Robert Half (NYSE:RHI) Shares Gap Down Following Analyst Downgrade

Robert Half Inc. (NYSE:RHI)’s share price gapped down prior to trading on Friday after Robert W. Baird lowered their price target on the stock from $84.00 to $79.00. The stock had previously closed at $70.60, but opened at $67.91. Robert W. Baird currently has an outperform rating on the stock. Robert Half shares last traded at $69.26, with a volume of 215,324 shares changing hands.

RHI has been the subject of a number of other reports. Truist Financial upgraded Robert Half from a “sell” rating to a “hold” rating and set a $72.00 target price for the company in a research note on Monday, April 22nd. BMO Capital Markets dropped their price objective on shares of Robert Half from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $68.14.

Insider Buying and Selling at Robert Half

In other Robert Half news, EVP Robert W. Glass sold 7,500 shares of Robert Half stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $80.46, for a total transaction of $603,450.00. Following the completion of the transaction, the executive vice president now directly owns 186,062 shares of the company’s stock, valued at $14,970,548.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Robert Half

A number of hedge funds have recently made changes to their positions in the company. Venturi Wealth Management LLC raised its position in Robert Half by 55.0% in the 4th quarter. Venturi Wealth Management LLC now owns 420 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 149 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Robert Half during the fourth quarter worth $46,000. Larson Financial Group LLC bought a new position in Robert Half during the 3rd quarter worth about $39,000. CoreFirst Bank & Trust raised its position in Robert Half by 440.0% in the 3rd quarter. CoreFirst Bank & Trust now owns 540 shares of the business services provider’s stock valued at $40,000 after buying an additional 440 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new stake in shares of Robert Half in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 92.41% of the company’s stock.

Robert Half Stock Performance

The stock has a market capitalization of $7.29 billion, a P/E ratio of 17.92, a PEG ratio of 17.82 and a beta of 1.26. The firm’s 50-day simple moving average is $77.22 and its 200 day simple moving average is $79.44.

Robert Half (NYSE:RHI) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. Robert Half had a net margin of 6.43% and a return on equity of 25.73%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the firm posted $1.14 earnings per share. The company’s quarterly revenue was down 14.0% compared to the same quarter last year. As a group, research analysts expect that Robert Half Inc. will post 3.34 earnings per share for the current fiscal year.

Robert Half Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.53 per share. This is an increase from Robert Half’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, February 22nd. This represents a $2.12 annualized dividend and a yield of 3.06%. Robert Half’s dividend payout ratio (DPR) is currently 54.78%.

About Robert Half

Robert Half Inc provides talent solutions and business consulting services in North America, South America, Europe, Asia, and Australia. The company operates through Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti segments. The Contract Talent Solutions segment provides contract engagement professionals in the fields of finance and accounting, technology, marketing and creative, legal and administrative, and customer support.