HireRight (NYSE:HRT) Rating Increased to Outperform at William Blair

HireRight (NYSE:HRT) was upgraded by equities research analysts at William Blair from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, MarketBeat reports.

HRT has been the topic of several other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of HireRight in a research report on Friday, February 16th. StockNews.com assumed coverage on HireRight in a research report on Sunday, May 5th. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.50.

HireRight Stock Performance

Shares of HRT stock opened at $14.31 on Wednesday. The stock’s 50 day simple moving average is $14.26 and its 200 day simple moving average is $13.00. HireRight has a twelve month low of $8.50 and a twelve month high of $14.39. The company has a market capitalization of $40.35 million, a price-to-earnings ratio of -57.24 and a beta of 0.17.

HireRight (NYSE:HRT) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. The firm had revenue of $173.20 million during the quarter, compared to the consensus estimate of $170.20 million.

Institutional Investors Weigh In On HireRight

A number of institutional investors have recently added to or reduced their stakes in HRT. Park West Asset Management LLC bought a new stake in HireRight in the 4th quarter valued at $14,668,000. Advantage Alpha Capital Partners LP increased its stake in HireRight by 106.2% in the third quarter. Advantage Alpha Capital Partners LP now owns 459,607 shares of the company’s stock valued at $4,371,000 after acquiring an additional 236,675 shares during the period. Jennison Associates LLC increased its stake in HireRight by 14.0% in the third quarter. Jennison Associates LLC now owns 1,576,599 shares of the company’s stock valued at $14,993,000 after acquiring an additional 193,081 shares during the period. Fifth Lane Capital LP acquired a new position in HireRight in the first quarter worth about $1,427,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in HireRight by 37.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 345,620 shares of the company’s stock worth $3,287,000 after purchasing an additional 94,531 shares during the period. 12.49% of the stock is owned by institutional investors and hedge funds.

HireRight Company Profile

HireRight Holdings Corporation provides technology-driven workforce risk management and compliance solutions worldwide. It offers background screening, verification, identification, monitoring, and drug and health screening services for customers under the HireRight brand name. The company provides its services through software and data platform that integrates into its customers' human capital management systems enabling workflows for workforce hiring, onboarding, and monitoring.