Robert Half (NYSE:RHI) Shares Gap Down Following Weak Earnings

Robert Half Inc. (NYSE:RHI) gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $69.15, but opened at $64.86. Robert Half shares last traded at $64.18, with a volume of 620,751 shares trading hands.

The business services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Robert Half had a return on equity of 18.78% and a net margin of 4.84%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Truist Financial upgraded shares of Robert Half from a “hold” rating to a “buy” rating and raised their target price for the company from $62.00 to $90.00 in a research note on Friday, December 13th. JPMorgan Chase & Co. lowered their price target 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. Barclays raised Robert Half from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $60.00 to $80.00 in a research report on Friday, January 3rd. Finally, BNP Paribas downgraded shares of Robert Half from an “outperform” rating to an “underperform” rating and set a $64.00 price target for the company. in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $74.33.

Insider Transactions at Robert Half

In other Robert Half news, Director Dirk A. Kempthorne sold 1,032 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $74.35, for a total value of $76,729.20. Following the transaction, the director now owns 12,310 shares of the company’s stock, valued at approximately $915,248.50. The trade was a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Robert Half

Hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in shares of Robert Half during the third quarter valued at approximately $27,000. Private Trust Co. NA lifted its stake in shares of Robert Half by 79.7% during the third quarter. Private Trust Co. NA now owns 433 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 192 shares during the period. Reston Wealth Management LLC bought a new position in Robert Half in the third quarter valued at about $34,000. Eastern Bank bought a new position in shares of Robert Half in the 4th quarter valued at about $35,000. Finally, GAMMA Investing LLC raised its stake in shares of Robert Half by 35.6% during the third quarter. GAMMA Investing LLC now owns 682 shares of the business services provider’s stock worth $46,000 after buying an additional 179 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Robert Half Stock Down 6.8 %

The company’s fifty day moving average is $71.77 and its two-hundred day moving average is $67.94. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 23.47 and a beta of 1.24.

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.