JPMorgan Chase & Co. Issues Positive Forecast for Robert Half (NYSE:RHI) Stock Price

Robert Half (NYSE:RHIGet Free Report) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $29.00 to $31.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 10.26% from the stock’s current price.

A number of other research firms have also issued reports on RHI. Robert W. Baird set a $50.00 price target on shares of Robert Half in a research report on Friday. UBS Group dropped their price target on shares of Robert Half from $30.00 to $27.00 and set a “sell” rating on the stock in a research note on Thursday, October 23rd. Zacks Research lowered Robert Half from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 19th. Weiss Ratings restated a “sell (d)” rating on shares of Robert Half in a research note on Monday, December 29th. Finally, The Goldman Sachs Group cut their price target on Robert Half from $31.00 to $27.00 and set a “sell” rating for the company in a research note on Thursday, October 23rd. One analyst has rated the stock with a Buy rating, three have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $33.00.

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Robert Half Stock Up 27.5%

RHI traded up $7.46 during trading on Friday, reaching $34.55. The stock had a trading volume of 11,391,348 shares, compared to its average volume of 2,772,868. The stock has a 50 day moving average of $27.67 and a two-hundred day moving average of $31.72. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 22.43 and a beta of 0.85. Robert Half has a 1-year low of $25.22 and a 1-year high of $66.25.

Robert Half (NYSE:RHIGet Free Report) last released its earnings results on Thursday, January 29th. The business services provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.30 by $0.02. Robert Half had a net margin of 2.85% and a return on equity of 11.76%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the business earned $0.53 earnings per share. The business’s quarterly revenue was down 5.8% on a year-over-year basis. On average, research analysts forecast that Robert Half will post 2.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Pzena Investment Management LLC increased its position in Robert Half by 80.3% in the 2nd quarter. Pzena Investment Management LLC now owns 2,377,277 shares of the business services provider’s stock valued at $97,587,000 after acquiring an additional 1,058,569 shares in the last quarter. Evergreen Capital Management LLC bought a new position in Robert Half in the third quarter valued at approximately $1,204,000. Russell Investments Group Ltd. grew its holdings in Robert Half by 25.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 404,024 shares of the business services provider’s stock worth $16,585,000 after acquiring an additional 82,645 shares during the period. Quadrature Capital Ltd raised its position in shares of Robert Half by 531.4% during the 2nd quarter. Quadrature Capital Ltd now owns 28,371 shares of the business services provider’s stock valued at $1,165,000 after acquiring an additional 23,878 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Robert Half by 7.4% in the 2nd quarter. First Trust Advisors LP now owns 1,212,441 shares of the business services provider’s stock valued at $49,771,000 after purchasing an additional 83,232 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

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About Robert Half

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Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half’s shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest?standing and best?known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.

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