Robert W. Baird Lowers Robert Half (NYSE:RHI) Price Target to $79.00

Robert Half (NYSE:RHI) had its price target reduced by equities researchers at Robert W. Baird from $84.00 to $79.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Robert W. Baird’s price objective suggests a potential upside of 13.91% from the stock’s current price.

Several other brokerages also recently commented on RHI. BMO Capital Markets lowered their target price on Robert Half from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Wednesday, January 31st. Truist Financial raised Robert Half from a “sell” rating to a “hold” rating and set a $72.00 target price for the company in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.14.

Robert Half Stock Performance

Shares of NYSE RHI opened at $69.35 on Friday. Robert Half has a 52 week low of $64.65 and a 52 week high of $88.39. The stock has a market capitalization of $7.29 billion, a P/E ratio of 20.76, a PEG ratio of 17.55 and a beta of 1.26. The stock’s fifty day moving average is $76.99 and its 200 day moving average is $79.41.

Robert Half (NYSE:RHI) last released its earnings results on Thursday, April 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Robert Half had a return on equity of 22.08% and a net margin of 5.74%. The business’s revenue for the quarter was down 14.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 earnings per share. Equities research analysts forecast that Robert Half will post 3.35 earnings per share for the current year.

Insider Activity

In other news, EVP Robert W. Glass sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $80.46, for a total value of $603,450.00. Following the completion of the transaction, the executive vice president now owns 186,062 shares of the company’s stock, valued at $14,970,548.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RHI. CWM LLC boosted its holdings in Robert Half by 15.2% in the third quarter. CWM LLC now owns 5,882 shares of the business services provider’s stock valued at $431,000 after acquiring an additional 774 shares during the last quarter. IFP Advisors Inc boosted its holdings in Robert Half by 6.1% in the third quarter. IFP Advisors Inc now owns 3,078 shares of the business services provider’s stock valued at $226,000 after acquiring an additional 177 shares during the last quarter. Czech National Bank boosted its holdings in Robert Half by 46.7% in the third quarter. Czech National Bank now owns 18,716 shares of the business services provider’s stock valued at $1,372,000 after acquiring an additional 5,960 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Robert Half by 54.3% in the third quarter. Handelsbanken Fonder AB now owns 21,300 shares of the business services provider’s stock valued at $1,561,000 after acquiring an additional 7,500 shares during the last quarter. Finally, Grimes & Company Inc. boosted its holdings in Robert Half by 3.4% in the third quarter. Grimes & Company Inc. now owns 211,289 shares of the business services provider’s stock valued at $15,483,000 after acquiring an additional 6,903 shares during the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

About Robert Half

Robert Half Inc provides talent solutions and business consulting services in North America, South America, Europe, Asia, and Australia. The company operates through Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti segments. The Contract Talent Solutions segment provides contract engagement professionals in the fields of finance and accounting, technology, marketing and creative, legal and administrative, and customer support.