Robert Half (NYSE:RHI) Upgraded by Truist Financial to Buy Rating

Truist Financial upgraded shares of Robert Half (NYSE:RHI) from a hold rating to a buy rating in a report issued on Friday, MarketBeat Ratings reports. The firm currently has $90.00 target price on the business services provider’s stock, up from their previous target price of $62.00.

Separately, JPMorgan Chase & Co. decreased their price target on Robert Half from $70.00 to $69.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $73.67.

Robert Half Stock Performance

NYSE RHI opened at $76.10 on Friday. The firm’s fifty day moving average is $71.62 and its two-hundred day moving average is $66.42. Robert Half has a one year low of $57.05 and a one year high of $88.39. The firm has a market cap of $7.86 billion, a PE ratio of 27.77 and a beta of 1.24.

Robert Half (NYSE:RHI) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. Robert Half had a return on equity of 18.78% and a net margin of 4.84%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the business earned $0.90 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. Research analysts predict that Robert Half will post 2.45 earnings per share for the current year.

Robert Half Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were issued a $0.53 dividend. The ex-dividend date was Monday, November 25th. This represents a $2.12 annualized dividend and a dividend yield of 2.79%. Robert Half’s dividend payout ratio is currently 77.37%.

Insiders Place Their Bets

In other news, Director Dirk A. Kempthorne sold 1,032 shares of Robert Half stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $74.35, for a total transaction of $76,729.20. Following the completion of the transaction, the director now owns 12,310 shares of the company’s stock, valued at $915,248.50. The trade was a 7.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Robert Half

Several hedge funds have recently added to or reduced their stakes in the business. Mawer Investment Management Ltd. grew its position in shares of Robert Half by 28.9% in the third quarter. Mawer Investment Management Ltd. now owns 4,681,340 shares of the business services provider’s stock valued at $315,569,000 after purchasing an additional 1,049,005 shares during the last quarter. FORA Capital LLC purchased a new stake in shares of Robert Half in the third quarter valued at $1,792,000. Achmea Investment Management B.V. boosted its stake in shares of Robert Half by 9.2% during the second quarter. Achmea Investment Management B.V. now owns 152,251 shares of the business services provider’s stock valued at $9,741,000 after acquiring an additional 12,772 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Robert Half by 182.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 25,100 shares of the business services provider’s stock worth $1,606,000 after purchasing an additional 16,212 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Robert Half by 136.3% in the 2nd quarter. Renaissance Technologies LLC now owns 88,400 shares of the business services provider’s stock valued at $5,656,000 after purchasing an additional 50,995 shares during the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

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.