Robert Half (NYSE:RHI) Upgraded by Barclays to “Equal Weight” Rating

Barclays upgraded shares of Robert Half (NYSE:RHI) from an underweight rating to an equal weight rating in a report issued on Friday morning, MarketBeat reports. The firm currently has $80.00 price target on the business services provider’s stock, up from their prior price target of $60.00.

Several other analysts also recently issued reports on RHI. BNP Paribas downgraded Robert Half from an “outperform” rating to an “underperform” rating and set a $64.00 price target on the stock. in a research note on Monday, December 16th. JPMorgan Chase & Co. dropped their target price on Robert Half from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, Truist Financial raised Robert Half from a “hold” rating to a “buy” rating and upped their price target for the stock from $62.00 to $90.00 in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $74.33.

Robert Half Stock Performance

Shares of RHI opened at $69.95 on Friday. The stock has a 50 day simple moving average of $72.86 and a 200 day simple moving average of $67.18. Robert Half has a 52-week low of $57.05 and a 52-week high of $84.16. The firm has a market capitalization of $7.22 billion, a PE ratio of 25.53 and a beta of 1.24.

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

Robert Half Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Monday, November 25th. Robert Half’s dividend payout ratio is currently 77.37%.

Insider Activity

In other news, Director Dirk A. Kempthorne sold 1,032 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $74.35, for a total value of $76,729.20. Following the sale, the director now directly owns 12,310 shares of the company’s stock, valued at approximately $915,248.50. This represents a 7.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Robert Half

A number of hedge funds have recently made changes to their positions in RHI. V Square Quantitative Management LLC bought a new position in shares of Robert Half during the third quarter worth approximately $27,000. Private Trust Co. NA grew its position in Robert Half by 79.7% during the third quarter. Private Trust Co. NA now owns 433 shares of the business services provider’s stock worth $29,000 after buying an additional 192 shares in the last quarter. Reston Wealth Management LLC bought a new position in Robert Half during the 3rd quarter worth $34,000. GAMMA Investing LLC raised its holdings in Robert Half by 35.6% in the 3rd quarter. GAMMA Investing LLC now owns 682 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 179 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of Robert Half by 310.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 796 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 602 shares during the period. 92.41% of the stock is owned by institutional investors and hedge funds.

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.