Barrington Research Has Lowered Expectations for HireQuest (NASDAQ:HQI) Stock Price

HireQuest (NASDAQ:HQI - Get Free Report) had its price target reduced by Barrington Research from $16.00 to $13.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Barrington Research's price target suggests a potential upside of 30.78% from the company's previous close.

HireQuest Stock Down 2.6%

HQI opened at $9.94 on Monday. The firm has a 50 day moving average price of $11.65 and a 200-day moving average price of $13.20. HireQuest has a twelve month low of $9.04 and a twelve month high of $15.75. The stock has a market capitalization of $139.49 million, a price-to-earnings ratio of 90.36 and a beta of 1.20.

HireQuest (NASDAQ:HQI - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.04). The business had revenue of $7.47 million for the quarter, compared to analysts' expectations of $8.03 million. HireQuest had a net margin of 4.04% and a return on equity of 11.02%. As a group, analysts expect that HireQuest will post 0.28 earnings per share for the current year.

Institutional Trading of HireQuest

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its holdings in HireQuest by 288.2% in the 3rd quarter. Barclays PLC now owns 7,837 shares of the company's stock valued at $110,000 after purchasing an additional 5,818 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in HireQuest by 233.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,932 shares of the company's stock worth $141,000 after buying an additional 6,953 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in HireQuest by 31.8% during the 4th quarter. Bank of New York Mellon Corp now owns 111,488 shares of the company's stock worth $1,579,000 after buying an additional 26,913 shares in the last quarter. Geode Capital Management LLC increased its position in shares of HireQuest by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 132,303 shares of the company's stock valued at $1,874,000 after purchasing an additional 909 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of HireQuest by 36.2% in the 4th quarter. Wells Fargo & Company MN now owns 3,187 shares of the company's stock valued at $45,000 after purchasing an additional 847 shares during the last quarter. Hedge funds and other institutional investors own 12.00% of the company's stock.

About HireQuest

HireQuest, Inc provides temporary staffing services in the United States. It offers staffing services, including direct-dispatch, executive search, consultant, unskilled and semi-skilled industrial and construction personnel, clerical and administrative personnel, and permanent placement services, as well as commercial and non-CDL drivers, and skilled personnel in the medical and dental industries.

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