Bayforest Capital Ltd Raises Position in Robert Half Inc. (NYSE:RHI)

Bayforest Capital Ltd increased its holdings in Robert Half Inc. (NYSE:RHI) by 962.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,525 shares of the business services provider’s stock after purchasing an additional 4,099 shares during the period. Bayforest Capital Ltd’s holdings in Robert Half were worth $247,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Robert Half in the first quarter valued at $3,195,000. GAMMA Investing LLC grew its stake in Robert Half by 92.9% during the first quarter. GAMMA Investing LLC now owns 2,091 shares of the business services provider’s stock worth $114,000 after buying an additional 1,007 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Robert Half by 4.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 76,378 shares of the business services provider’s stock worth $4,166,000 after acquiring an additional 3,248 shares in the last quarter. Allworth Financial LP raised its stake in shares of Robert Half by 80.4% in the 1st quarter. Allworth Financial LP now owns 1,458 shares of the business services provider’s stock valued at $80,000 after acquiring an additional 650 shares during the period. Finally, CX Institutional acquired a new position in shares of Robert Half during the 1st quarter valued at $33,000. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RHI. Truist Financial set a $55.00 price objective on Robert Half and gave the stock a “buy” rating in a research note on Thursday, April 24th. BNP Paribas Exane downgraded Robert Half from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Friday, May 2nd. BNP Paribas cut Robert Half from an “outperform” rating to a “neutral” rating and set a $45.00 price target for the company. in a report on Friday, May 2nd. Barclays lowered their price objective on shares of Robert Half from $50.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen cut shares of Robert Half from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Robert Half has an average rating of “Hold” and a consensus target price of $45.83.

Robert Half Stock Down 4.3%

Shares of RHI opened at $35.34 on Friday. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 20.19 and a beta of 1.02. The business’s 50 day moving average is $42.19 and its two-hundred day moving average is $50.22. Robert Half Inc. has a 52-week low of $35.22 and a 52-week high of $78.41.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.35 billion. Robert Half had a net margin of 3.20% and a return on equity of 13.00%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. On average, equities analysts expect that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Company Profile

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.