Robert Half (NYSE:RHI) Shares Gap Down Following Analyst Downgrade

Shares of Robert Half Inc. (NYSE:RHI) gapped down prior to trading on Friday after Robert W. Baird lowered their price target on the stock from $84.00 to $79.00. The stock had previously closed at $70.60, but opened at $67.91. Robert W. Baird currently has an outperform rating on the stock. Robert Half shares last traded at $69.26, with a volume of 215,324 shares changing hands.

RHI has been the topic of several other reports. Truist Financial raised shares of Robert Half from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a report on Monday. BMO Capital Markets reduced their target price on shares of Robert Half from $85.00 to $80.00 and set a “market perform” rating on the stock in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Robert Half currently has an average rating of “Hold” and an average target price of $68.14.

Insider Transactions at Robert Half

In other news, EVP Robert W. Glass sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $80.46, for a total value of $603,450.00. Following the transaction, the executive vice president now owns 186,062 shares in the company, valued at approximately $14,970,548.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Robert Half

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Empirical Asset Management LLC increased its stake in Robert Half by 2.6% during the 4th quarter. Empirical Asset Management LLC now owns 5,270 shares of the business services provider’s stock valued at $463,000 after purchasing an additional 134 shares in the last quarter. Wahed Invest LLC increased its stake in Robert Half by 9.0% during the 3rd quarter. Wahed Invest LLC now owns 1,637 shares of the business services provider’s stock valued at $120,000 after purchasing an additional 135 shares in the last quarter. Family Legacy Inc. increased its stake in Robert Half by 2.0% during the 1st quarter. Family Legacy Inc. now owns 7,177 shares of the business services provider’s stock valued at $569,000 after purchasing an additional 144 shares in the last quarter. Cypress Capital Group increased its stake in Robert Half by 1.8% during the 3rd quarter. Cypress Capital Group now owns 8,402 shares of the business services provider’s stock valued at $616,000 after purchasing an additional 146 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Robert Half by 55.0% during the 4th quarter. Venturi Wealth Management LLC now owns 420 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 92.41% of the company’s stock.

Robert Half Stock Performance

The stock has a market cap of $7.31 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 17.82 and a beta of 1.26. The company’s 50 day moving average price is $77.22 and its 200-day moving average price is $79.44.

Robert Half (NYSE:RHI) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Robert Half had a net margin of 6.43% and a return on equity of 25.73%. The firm’s revenue for the quarter was down 14.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. On average, analysts forecast that Robert Half Inc. will post 3.34 earnings per share for the current fiscal year.

Robert Half Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.12 annualized dividend and a yield of 3.05%. This is a positive change from Robert Half’s previous quarterly dividend of $0.48. Robert Half’s dividend payout ratio is presently 54.78%.

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.