HireRight (NYSE:HRT) Upgraded by William Blair to Outperform

William Blair upgraded shares of HireRight (NYSE:HRT) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports.

A number of other brokerages have also recently weighed in on HRT. StockNews.com started coverage on shares of HireRight in a research note on Sunday. They set a hold rating for the company. Needham & Company LLC restated a hold rating on shares of HireRight in a research report on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $12.50.

HireRight Stock Down 0.2 %

Shares of HireRight stock opened at $14.33 on Wednesday. The firm’s 50 day moving average is $14.26 and its two-hundred day moving average is $13.00. HireRight has a 52 week low of $8.50 and a 52 week high of $14.39. The firm has a market capitalization of $40.41 million, a P/E ratio of -57.32 and a beta of 0.17.

HireRight (NYSE:HRT) last released its quarterly earnings results on Tuesday, March 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $166.04 million for the quarter, compared to analysts’ expectations of $170.35 million.

Institutional Investors Weigh In On HireRight

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in shares of HireRight by 2.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 167,841 shares of the company’s stock valued at $1,596,000 after buying an additional 4,548 shares during the period. Jennison Associates LLC grew its stake in shares of HireRight by 14.0% during the 3rd quarter. Jennison Associates LLC now owns 1,576,599 shares of the company’s stock worth $14,993,000 after purchasing an additional 193,081 shares during the period. Keybank National Association OH acquired a new stake in shares of HireRight in the third quarter valued at about $121,000. Massachusetts Financial Services Co. MA grew its position in HireRight by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,130,394 shares of the company’s stock worth $20,260,000 after buying an additional 6,363 shares during the period. Finally, Dark Forest Capital Management LP acquired a new stake in shares of HireRight during the 3rd quarter valued at approximately $118,000. Hedge funds and other institutional investors own 12.49% of the company’s stock.

About HireRight

HireRight Holdings Corporation provides technology-driven workforce risk management and compliance solutions worldwide. It offers background screening, verification, identification, monitoring, and drug and health screening services for customers under the HireRight brand name. The company provides its services through software and data platform that integrates into its customers' human capital management systems enabling workflows for workforce hiring, onboarding, and monitoring.