Robert Half International (NYSE:RHI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Robert Half continues to benefit from the robust staffing industry in the United States, which is currently benefiting from promising developments in the broader economy. Additionally, the company’s international revenues are in good shape. Investments in software initiatives and technology infrastructure should add to the company’s future growth opportunities. In fact, shares of Robert Half have outperformed the industry over the past year. We appreciate the company’s shareholder-friendly moves of dividend payments and share buybacks. However, high competition, risks associated with international presence and higher operating expenses are major headwinds.”
RHI has been the subject of a number of other reports. Goldman Sachs Group lowered shares of Robert Half International from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $70.00 to $67.00 in a research report on Wednesday, September 5th. Credit Suisse Group initiated coverage on shares of Robert Half International in a research report on Friday, August 10th. They set an “underperform” rating and a $57.00 price target for the company. SunTrust Banks reissued a “hold” rating and set a $76.00 price target on shares of Robert Half International in a research report on Wednesday, July 25th. Nomura raised their price target on shares of Robert Half International from $80.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, September 18th. Finally, BMO Capital Markets raised their price target on shares of Robert Half International from $68.00 to $75.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 25th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Robert Half International currently has a consensus rating of “Hold” and an average target price of $67.36.
RHI opened at $71.07 on Tuesday. Robert Half International has a 12-month low of $48.21 and a 12-month high of $79.91. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 27.33 and a beta of 1.18.
Robert Half International (NYSE:RHI) last posted its quarterly earnings results on Tuesday, July 24th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. Robert Half International had a net margin of 6.11% and a return on equity of 33.44%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the firm posted $0.64 EPS. Robert Half International’s revenue for the quarter was up 11.4% compared to the same quarter last year. equities analysts predict that Robert Half International will post 3.45 earnings per share for the current fiscal year.
In other news, EVP Robert W. Glass sold 40,000 shares of Robert Half International stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $77.50, for a total transaction of $3,100,000.00. Following the completion of the transaction, the executive vice president now directly owns 271,364 shares of the company’s stock, valued at approximately $21,030,710. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.00% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of RHI. Old Mutual Global Investors UK Ltd. increased its holdings in shares of Robert Half International by 361.4% during the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 1,375,033 shares of the business services provider’s stock valued at $79,600,000 after purchasing an additional 1,077,023 shares in the last quarter. Argent Capital Management LLC acquired a new stake in Robert Half International in the 2nd quarter valued at $49,785,000. Morgan Stanley grew its stake in Robert Half International by 199.6% in the 2nd quarter. Morgan Stanley now owns 1,135,605 shares of the business services provider’s stock valued at $73,927,000 after acquiring an additional 756,618 shares during the period. American Century Companies Inc. grew its stake in Robert Half International by 93.6% in the 2nd quarter. American Century Companies Inc. now owns 959,800 shares of the business services provider’s stock valued at $62,483,000 after acquiring an additional 464,138 shares during the period. Finally, State Treasurer State of Michigan grew its stake in Robert Half International by 1,161.1% in the 2nd quarter. State Treasurer State of Michigan now owns 461,060 shares of the business services provider’s stock valued at $30,015,000 after acquiring an additional 424,500 shares during the period. 88.30% of the stock is owned by hedge funds and other institutional investors.
About Robert Half International
Robert Half International Inc provides staffing and risk consulting services in North America, South America, Europe, Asia, and Australia. The company operates through three segments: Temporary and Consultant Staffing, Permanent Placement Staffing, and Risk Consulting and Internal Audit Services. It places temporary personnel for accounting, finance, and bookkeeping; temporary and full-time office and administrative personnel consisting of executive and administrative assistants, receptionists, and customer service representatives; full-time accounting, financial, tax, and accounting operations personnel; and information technology contract consultants and full-time employees in the areas of platform systems integration to end-user technical and desktop support, including specialists in application development, networking, systems integration and deployment, database design and administration, and security and business continuity.
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