Robert Half International Inc. (RHI) Downgraded to Sell at Zacks Investment Research
Robert Half International Inc. (NYSE:RHI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
According to Zacks, “Estimates have largely remained unchanged ahead of the third quarter earnings release. Robert Half reported weaker-than-expected second quarter of 2016 results, possibly due to uncertain macro-economic environment and market volatility. However, both earnings and revenues grew on a year-over-year basis. Robert Half has been witnessing strong year-over-year earnings growth since the past many quarters driven by solid demand for services provided by skilled professionals as well as a growing labor market in the U.S. The recently released 2017 Salary Guides by Robert Half also shows rising demand for skilled professionals. However, the company cannot escape from currency fluctuations. Also, the company is expected to incur higher costs in the near term.”
Several other analysts also recently commented on the stock. Bank of America Corp. downgraded shares of Robert Half International from a “buy” rating to a “neutral” rating and set a $44.00 target price on the stock. in a report on Wednesday, July 13th. Northcoast Research downgraded shares of Robert Half International from a “neutral” rating to a “sell” rating in a report on Thursday, September 29th. Credit Suisse Group AG downgraded shares of Robert Half International from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $37.00 to $33.00 in a report on Monday, October 3rd. Macquarie started coverage on shares of Robert Half International in a report on Thursday, August 25th. They set a “neutral” rating and a $43.00 target price on the stock. Finally, RBC Capital Markets set a $42.00 target price on shares of Robert Half International and gave the stock a “buy” rating in a report on Wednesday, July 27th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.53.
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Robert Half International (NYSE:RHI) traded down 0.65% during mid-day trading on Monday, hitting $37.99. 299,598 shares of the company traded hands. The company’s 50-day moving average is $37.86 and its 200-day moving average is $39.52. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 13.61 and a beta of 1.26. Robert Half International has a one year low of $34.34 and a one year high of $54.01.
Robert Half International (NYSE:RHI) last announced its earnings results on Tuesday, July 26th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.73 by $0.02. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.36 billion. Robert Half International had a return on equity of 35.42% and a net margin of 6.94%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $0.67 earnings per share. Analysts predict that Robert Half International will post $2.75 EPS for the current year.
In other Robert Half International news, insider Robert W. Glass sold 30,061 shares of Robert Half International stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $36.93, for a total transaction of $1,110,152.73. Following the completion of the transaction, the insider now directly owns 340,972 shares of the company’s stock, valued at $12,592,095.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC bought a new position in Robert Half International during the second quarter worth approximately $55,821,000. Norges Bank bought a new position in Robert Half International during the fourth quarter worth approximately $58,117,000. First Manhattan Co. boosted its position in Robert Half International by 498.2% in the second quarter. First Manhattan Co. now owns 1,470,465 shares of the company’s stock worth $56,113,000 after buying an additional 1,224,632 shares during the period. Bank of Montreal Can bought a new position in Robert Half International during the second quarter worth approximately $37,277,000. Finally, PGGM Investments bought a new position in Robert Half International during the second quarter worth approximately $30,624,000. 85.08% of the stock is owned by hedge funds and other institutional investors.
About Robert Half International
Robert Half International Inc provides specialized staffing and risk consulting services. The Company’s divisions are Accountemps, Robert Half Finance & Accounting, OfficeTeam, Robert Half Technology, Robert Half Management Resources, Robert Half Legal, The Creative Group and Protiviti. It operates through three segments: temporary and consultant staffing, permanent placement staffing, and risk consulting and internal audit services.
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