Adecco (OTCMKTS:AHEXY) Trading Up 6.2% – Here’s What Happened

Shares of Adecco SA (OTCMKTS:AHEXY) traded up 6.2% during mid-day trading on Thursday . The stock traded as high as $11.66 and last traded at $11.66. 741 shares changed hands during trading, a decline of 97% from the average daily volume of 24,081 shares. The stock had previously closed at $10.98.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. UBS Group cut Adecco from a “hold” rating to a “sell” rating in a research note on Monday, May 18th. Citigroup downgraded shares of Adecco from a “strong-buy” rating to a “neutral” rating in a research note on Thursday, April 30th. Morgan Stanley lowered shares of Adecco from a “cautious” rating to an “underweight” rating in a report on Tuesday, June 9th. Finally, Zacks Research raised shares of Adecco from a “strong sell” rating to a “hold” rating in a research report on Monday. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Adecco Trading Up 7.9%

The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.73. The firm’s 50 day simple moving average is $10.10 and its two-hundred day simple moving average is $12.10. The stock has a market cap of $4.12 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 0.94 and a beta of 0.98.

Adecco (OTCMKTS:AHEXY) last posted its quarterly earnings results on Wednesday, May 13th. The business services provider reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. Adecco had a net margin of 1.31% and a return on equity of 12.09%. The company had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.55 billion. As a group, equities research analysts predict that Adecco SA will post 1.41 earnings per share for the current fiscal year.

About Adecco

Adecco Group AG is a global human resources and workforce solutions provider headquartered in Zurich, Switzerland. The company specializes in temporary staffing, permanent placement, career transition, and talent development services. Its core business activities include matching job seekers with client companies, managing contingent workforce solutions, and offering consulting services related to workforce management and organizational effectiveness.

Founded in 1996 through the merger of the Swiss companies Adia Interim and ECCO, Adecco has grown into one of the world’s largest staffing firms.