Robert Half (NYSE:RHI) Shares Gap Down After Analyst Downgrade

Robert Half Inc. (NYSE:RHI - Get Free Report) shares gapped down before the market opened on Friday after Robert W. Baird lowered their price target on the stock from $84.00 to $79.00. The stock had previously closed at $70.60, but opened at $67.91. Robert W. Baird currently has an outperform rating on the stock. Robert Half shares last traded at $69.26, with a volume of 215,324 shares changing hands.

Several other equities analysts have also weighed in on the stock. BMO Capital Markets cut their price objective on shares of Robert Half from $85.00 to $80.00 and set a "market perform" rating on the stock in a report on Wednesday, January 31st. Truist Financial upgraded shares of Robert Half from a "sell" rating to a "hold" rating and set a $72.00 price objective on the stock in a report on Monday. 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 an average target price of $68.14.

Insiders Place Their Bets

In other Robert Half news, EVP Robert W. Glass sold 7,500 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $80.46, for a total value of $603,450.00. Following the sale, the executive vice president now directly owns 186,062 shares in the company, valued at $14,970,548.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Robert Half

Hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC grew its position in Robert Half by 55.0% in the fourth quarter. Venturi Wealth Management LLC now owns 420 shares of the business services provider's stock valued at $37,000 after purchasing an additional 149 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Robert Half during the 4th quarter worth about $46,000. Larson Financial Group LLC acquired a new stake in shares of Robert Half during the 3rd quarter worth about $39,000. CoreFirst Bank & Trust lifted its stake in shares of Robert Half by 440.0% during the 3rd quarter. CoreFirst Bank & Trust now owns 540 shares of the business services provider's stock worth $40,000 after buying an additional 440 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new stake in shares of Robert Half during the 3rd quarter worth about $43,000. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Robert Half Trading Down 1.8 %

The business's 50 day moving average price is $77.22 and its 200-day moving average price is $79.44. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 17.82 and a beta of 1.26.

Robert Half (NYSE:RHI - Get Free Report) last posted its earnings results on Thursday, April 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.01. Robert Half had a net margin of 6.43% and a return on equity of 25.73%. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter last year, the company posted $1.14 EPS. Robert Half's quarterly revenue was down 14.0% compared to the same quarter last year. Equities research analysts forecast that Robert Half Inc. will post 3.34 EPS for the current fiscal year.

Robert Half Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were paid a $0.53 dividend. This is a boost from Robert Half's previous quarterly dividend of $0.48. The ex-dividend date was Thursday, February 22nd. This represents a $2.12 annualized dividend and a yield of 3.06%. Robert Half's payout ratio is 54.78%.

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.