Robert Half (NYSE:RHI) Stock Price Up 7.8% – Still a Buy?

Robert Half Inc. (NYSE:RHI)’s stock price shot up 7.8% on Monday . The stock traded as high as $38.04 and last traded at $38.04. 142,029 shares were traded during mid-day trading, a decline of 95% from the average session volume of 2,865,537 shares. The stock had previously closed at $35.29.

Analysts Set New Price Targets

A number of brokerages have commented on RHI. William Blair upgraded shares of Robert Half from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 21st. BMO Capital Markets upgraded Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 price target for the company in a report on Monday. Zacks Research upgraded Robert Half from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Weiss Ratings upgraded Robert Half from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 17th. Finally, The Goldman Sachs Group increased their price target on Robert Half from $26.00 to $29.00 and gave the company a “sell” rating in a research note on Friday. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $34.75.

Robert Half Price Performance

The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 34.04 and a beta of 0.82. The company’s 50-day simple moving average is $32.22 and its 200-day simple moving average is $28.41.

Robert Half (NYSE:RHI) last announced its earnings results on Thursday, July 23rd. The business services provider reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Robert Half had a return on equity of 9.18% and a net margin of 2.17%.The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. 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 issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Friday, May 22nd. Robert Half’s dividend payout ratio is currently 205.22%.

Institutional Investors Weigh In On Robert Half

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% during the fourth quarter. Larson Financial Group LLC now owns 1,002 shares of the business services provider’s stock worth $27,000 after acquiring an additional 764 shares during the period. Gilpin Wealth Management LLC acquired a new position in shares of Robert Half during the 4th quarter worth approximately $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Robert Half during the 2nd quarter worth approximately $34,000. Elevation Wealth Partners LLC increased its holdings in shares of 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 worth $35,000 after purchasing an additional 975 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of Robert Half by 94.3% during the fourth quarter. Fifth Third Bancorp now owns 1,368 shares of the business services provider’s stock worth $37,000 after purchasing an additional 664 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

About Robert Half

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.