Robert Half (NYSE:RHI) Price Target Cut to $69.00 by Analysts at JPMorgan Chase & Co.

Robert Half (NYSE:RHI - Get Free Report) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $70.00 to $69.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the business services provider's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 2.12% from the stock's previous close.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut Robert Half from a "buy" rating to a "hold" rating in a report on Friday, July 5th. BMO Capital Markets lowered their target price on Robert Half from $72.00 to $64.00 and set a "market perform" rating for the company in a report on Thursday, July 25th. Barclays lowered their target price on Robert Half from $70.00 to $60.00 and set an "underweight" rating for the company in a report on Friday, July 26th. Finally, Truist Financial reduced their price objective on shares of Robert Half from $72.00 to $62.00 and set a "hold" rating for the company in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $67.71.

Robert Half Stock Up 2.8 %

Shares of RHI traded up $1.87 during trading hours on Wednesday, reaching $67.57. The stock had a trading volume of 2,739,398 shares, compared to its average volume of 1,424,308. Robert Half has a 52 week low of $57.05 and a 52 week high of $88.39. The firm has a 50-day moving average of $64.56 and a 200 day moving average of $65.64. The company has a market cap of $7.09 billion, a P/E ratio of 20.21 and a beta of 1.23.

Robert Half (NYSE:RHI - Get Free Report) last released its earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.02. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.44 billion. Robert Half had a return on equity of 20.41% and a net margin of 5.26%. The company's revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. As a group, equities analysts expect that Robert Half will post 2.51 earnings per share for the current year.

Insider Transactions at Robert Half

In other news, Director Dirk A. Kempthorne sold 1,300 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $63.09, for a total transaction of $82,017.00. Following the transaction, the director now directly owns 13,342 shares of the company's stock, valued at approximately $841,746.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Burford Brothers Inc. bought a new position in Robert Half in the third quarter valued at approximately $679,000. Shayne & Jacobs LLC increased its stake in Robert Half by 28.0% in the third quarter. Shayne & Jacobs LLC now owns 42,803 shares of the business services provider's stock valued at $2,885,000 after acquiring an additional 9,356 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new position in Robert Half in the third quarter valued at approximately $189,000. Grimes & Company Inc. increased its stake in Robert Half by 7.0% in the third quarter. Grimes & Company Inc. now owns 261,793 shares of the business services provider's stock valued at $17,647,000 after acquiring an additional 17,218 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in Robert Half by 6,641.7% in the third quarter. International Assets Investment Management LLC now owns 809 shares of the business services provider's stock valued at $55,000 after acquiring an additional 797 shares during the last quarter. 92.41% of the stock is owned by institutional investors.

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.