Heidrick & Struggles International (NASDAQ:HSII) Reaches New 52-Week High Following Better-Than-Expected Earnings

Heidrick & Struggles International, Inc. (NASDAQ:HSII)’s share price hit a new 52-week high on Monday after the company announced better than expected quarterly earnings. The company traded as high as $58.55 and last traded at $58.5970, with a volume of 25566 shares trading hands. The stock had previously closed at $58.37.

The business services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Heidrick & Struggles International had a net margin of 2.92% and a return on equity of 14.85%. The firm had revenue of $322.84 million during the quarter, compared to the consensus estimate of $305.19 million.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HSII shares. Wall Street Zen upgraded shares of Heidrick & Struggles International from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Heidrick & Struggles International in a research report on Wednesday, October 8th. Barrington Research set a $59.00 price target on shares of Heidrick & Struggles International in a research report on Thursday, October 9th. Finally, Truist Financial increased their price target on shares of Heidrick & Struggles International from $48.00 to $59.00 and gave the company a “hold” rating in a research report on Monday, October 6th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Heidrick & Struggles International currently has an average rating of “Hold” and a consensus target price of $59.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in shares of Heidrick & Struggles International by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 116,192 shares of the business services provider’s stock valued at $4,977,000 after buying an additional 2,923 shares during the period. New York State Common Retirement Fund lifted its position in Heidrick & Struggles International by 30.8% in the 1st quarter. New York State Common Retirement Fund now owns 10,032 shares of the business services provider’s stock valued at $430,000 after purchasing an additional 2,365 shares during the last quarter. Hohimer Wealth Management LLC lifted its position in Heidrick & Struggles International by 5.4% in the 1st quarter. Hohimer Wealth Management LLC now owns 6,922 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 353 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Heidrick & Struggles International by 17.1% during the 1st quarter. Victory Capital Management Inc. now owns 23,824 shares of the business services provider’s stock worth $1,020,000 after buying an additional 3,486 shares in the last quarter. Finally, Bailard Inc. bought a new stake in shares of Heidrick & Struggles International during the 1st quarter worth about $214,000. 90.13% of the stock is owned by institutional investors and hedge funds.

Heidrick & Struggles International Trading Up 0.7%

The company has a market capitalization of $1.22 billion, a P/E ratio of 36.96, a P/E/G ratio of 1.15 and a beta of 1.03. The business’s 50-day simple moving average is $53.47 and its 200 day simple moving average is $47.54.

About Heidrick & Struggles International

Heidrick & Struggles International, Inc engages in provision of leadership consulting, culture shaping and senior-level executive search services. It offers its clients build leadership teams through facilitating the recruitment, management and deployment of senior executives. It operates under the following segments: Americas, Europe, Asia Pacific, Heidrick Consulting, and On Demand Talent Business.