HireRight (NYSE:HRT) Rating Increased to Outperform at William Blair

HireRight (NYSE:HRT) was upgraded by equities researchers at William Blair from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports.

A number of other equities research analysts also recently weighed in on HRT. StockNews.com initiated coverage on HireRight in a report on Sunday, May 5th. They issued a “hold” rating on the stock. Needham & Company LLC reiterated a “hold” rating on shares of HireRight in a research report on Friday, February 16th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.50.

HireRight Stock Down 0.1 %

Shares of HireRight stock opened at $14.31 on Wednesday. HireRight has a 12-month low of $8.50 and a 12-month high of $14.39. The company has a market capitalization of $40.35 million, a price-to-earnings ratio of -57.24 and a beta of 0.17. The firm’s 50-day moving average price is $14.26 and its two-hundred day moving average price is $13.00.

HireRight (NYSE:HRT) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. The firm had revenue of $173.20 million for the quarter, compared to the consensus estimate of $170.20 million.

Institutional Investors Weigh In On HireRight

Several hedge funds have recently added to or reduced their stakes in the business. New York State Common Retirement Fund increased its position in HireRight by 328.5% during the 4th quarter. New York State Common Retirement Fund now owns 5,125 shares of the company’s stock valued at $69,000 after purchasing an additional 3,929 shares during the period. SG Americas Securities LLC acquired a new stake in shares of HireRight in the 4th quarter valued at about $106,000. Dark Forest Capital Management LP bought a new stake in shares of HireRight during the third quarter valued at approximately $118,000. Keybank National Association OH acquired a new stake in HireRight in the 3rd quarter valued at $121,000. Finally, FNY Investment Advisers LLC bought a new stake in HireRight during the 4th quarter valued at $174,000. 12.49% of the stock is currently owned by institutional investors and hedge funds.

HireRight Company Profile

HireRight Holdings Corporation provides technology-driven workforce risk management and compliance solutions worldwide. It offers background screening, verification, identification, monitoring, and drug and health screening services for customers under the HireRight brand name. The company provides its services through software and data platform that integrates into its customers' human capital management systems enabling workflows for workforce hiring, onboarding, and monitoring.