Robert Half (NYSE:RHI) Shares Gap Down Following Weak Earnings

Robert Half Inc. (NYSE:RHI - Get Free Report) gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $69.15, but opened at $64.86. Robert Half shares last traded at $64.18, with a volume of 620,751 shares trading hands.

The business services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.01). Robert Half had a net margin of 4.34% and a return on equity of 17.20%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RHI shares. JPMorgan Chase & Co. decreased their target price on shares of Robert Half from $69.00 to $65.00 and set a "neutral" rating on the stock in a research report on Thursday. Truist Financial upgraded shares of Robert Half from a "hold" rating to a "buy" rating and boosted their target price for the stock from $62.00 to $90.00 in a research report on Friday, December 13th. BNP Paribas lowered shares of Robert Half from an "outperform" rating to an "underperform" rating and set a $64.00 target price on the stock. in a research report on Monday, December 16th. Finally, Barclays upgraded shares of Robert Half from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $60.00 to $80.00 in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $73.67.

Insiders Place Their Bets

In other news, Director Dirk A. Kempthorne sold 1,032 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $74.35, for a total transaction of $76,729.20. Following the completion of the transaction, the director now directly owns 12,310 shares in the company, valued at approximately $915,248.50. This represents a 7.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Robert Half

Institutional investors and hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in Robert Half during the third quarter worth $27,000. Private Trust Co. NA boosted its position in shares of Robert Half by 79.7% in the 3rd quarter. Private Trust Co. NA now owns 433 shares of the business services provider's stock valued at $29,000 after purchasing an additional 192 shares during the period. Reston Wealth Management LLC acquired a new stake in Robert Half during the 3rd quarter worth about $34,000. Eastern Bank acquired a new stake in Robert Half during the 4th quarter worth about $35,000. Finally, GAMMA Investing LLC raised its stake in shares of Robert Half by 35.6% during the 3rd quarter. GAMMA Investing LLC now owns 682 shares of the business services provider's stock worth $46,000 after purchasing an additional 179 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Robert Half Stock Performance

The stock has a 50 day moving average price of $71.39 and a two-hundred day moving average price of $67.94. The company has a market capitalization of $6.54 billion, a PE ratio of 25.92 and a beta of 1.23.

Robert Half Company Profile

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.