Robert Half (NYSE:RHI) Stock Price Up 7.8% – Here’s Why

Robert Half Inc. (NYSE:RHI) traded up 7.8% during trading on Monday . The company traded as high as $38.04 and last traded at $38.04. Approximately 142,029 shares traded hands during trading, a decline of 95% from the average daily volume of 2,865,537 shares. The stock had previously closed at $35.29.

Analysts Set New Price Targets

RHI has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Robert Half from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 17th. Truist Financial raised their price objective on shares of Robert Half from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Zacks Research upgraded shares of Robert Half from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. The Goldman Sachs Group lifted their target price on shares of Robert Half from $26.00 to $29.00 and gave the company a “sell” rating in a research note on Friday. Finally, BMO Capital Markets raised shares of Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 target price for the company in a report on Monday. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $34.75.

Robert Half Price Performance

The stock has a 50-day moving average price of $32.76 and a two-hundred day moving average price of $28.58. The stock has a market cap of $4.02 billion, a PE ratio of 34.21 and a beta of 0.82.

Robert Half (NYSE:RHI) last posted its earnings results on Thursday, July 23rd. The business services provider reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Robert Half had a return on equity of 9.18% and a net margin of 2.17%.The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. Equities research analysts expect that Robert Half Inc. will post 1.29 earnings per share for the current year.

Robert Half Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 22nd were paid a $0.59 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 6.0%. Robert Half’s payout ratio is presently 205.22%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RHI. Larson Financial Group LLC increased its position in Robert Half by 321.0% in the fourth quarter. Larson Financial Group LLC now owns 1,002 shares of the business services provider’s stock worth $27,000 after purchasing an additional 764 shares during the last quarter. Gilpin Wealth Management LLC purchased a new stake in Robert Half during the fourth quarter valued at $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Robert Half during the second quarter valued at $34,000. Elevation Wealth Partners LLC lifted its position in Robert Half by 605.6% during the second quarter. Elevation Wealth Partners LLC now owns 1,136 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 975 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Robert Half by 94.3% in the 4th quarter. Fifth Third Bancorp now owns 1,368 shares of the business services provider’s stock worth $37,000 after buying an additional 664 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors.

Robert Half Company Profile

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half’s shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.