HireQuest’s (HQI) “Buy” Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of HireQuest (NASDAQ:HQI) in a research report released on Wednesday morning,Benzinga reports. DA Davidson currently has a $15.00 target price on the stock.

A number of other analysts have also recently commented on the company. Barrington Research reaffirmed an “outperform” rating and set a $13.00 price target on shares of HireQuest in a research report on Monday, April 13th. Wall Street Zen raised HireQuest to a “hold” rating in a research report on Saturday, January 17th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of HireQuest in a research report on Friday, April 10th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

HireQuest Stock Performance

Shares of HQI opened at $12.39 on Wednesday. The stock has a 50-day moving average of $10.80 and a two-hundred day moving average of $10.24. HireQuest has a one year low of $7.38 and a one year high of $13.19. The stock has a market cap of $172.22 million, a P/E ratio of 26.94 and a beta of 1.08.

HireQuest (NASDAQ:HQI) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. HireQuest had a return on equity of 14.90% and a net margin of 21.98%.The company had revenue of $6.52 million during the quarter, compared to analysts’ expectations of $6.75 million. Analysts predict that HireQuest will post 0.53 EPS for the current fiscal year.

HireQuest Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.06 per share. The ex-dividend date is Monday, June 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.9%. HireQuest’s dividend payout ratio (DPR) is presently 52.17%.

Hedge Funds Weigh In On HireQuest

A number of institutional investors have recently modified their holdings of the stock. State Street Corp raised its stake in shares of HireQuest by 1.9% during the 4th quarter. State Street Corp now owns 76,866 shares of the company’s stock valued at $808,000 after buying an additional 1,451 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of HireQuest by 47.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,333 shares of the company’s stock valued at $67,000 after buying an additional 2,031 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of HireQuest during the 4th quarter valued at about $112,000. Deutsche Bank AG raised its stake in shares of HireQuest by 158.0% during the 4th quarter. Deutsche Bank AG now owns 10,945 shares of the company’s stock valued at $115,000 after buying an additional 6,702 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of HireQuest by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 293,013 shares of the company’s stock valued at $2,819,000 after buying an additional 12,246 shares during the last quarter. Hedge funds and other institutional investors own 12.00% of the company’s stock.

HireQuest Company Profile

HireQuest, Inc is a publicly traded holding company that provides equipment rental and workforce solutions across North America through two primary operating subsidiaries. Its Coast Equipment Rentals division offers a broad range of support equipment—such as pumps, trench safety systems, power and HVAC units, air compressors, light towers and generators—to the construction, industrial, municipal and environmental markets. Coast Equipment Rentals operates more than 135 branch locations in 36 U.S.