Robert Half (NYSE:RHI) Hits New 52-Week High After Analyst Upgrade

Key Points

• Robert Half shares surged to a new 52-week high of $47.14 after JPMorgan raised its price target from $40 to $45, though it maintained a neutral rating.
• The company exceeded third-quarter earnings expectations, reporting $0.49 in EPS on approximately $1.36 billion in revenue, while Talent Solutions revenue returned to year-over-year growth.
• Management cited improving hiring demand and stronger risk and compliance activity, but analyst sentiment remains mixed: the stock carries an average “Hold” rating and a consensus price target of $38.50.

Robert Half Inc. (NYSE:RHI - Get Free Report)'s stock price reached a new 52-week high during trading on Saturday after JPMorgan Chase & Co. raised their price target on the stock from $40.00 to $45.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Robert Half traded as high as $47.14 and last traded at $46.0250, with a volume of 6,893,679 shares. The stock had previously closed at $37.68.

A number of other equities analysts have also recently commented on the company. The Goldman Sachs Group raised their target price on Robert Half from $29.00 to $33.00 and gave the company a "sell" rating in a report on Friday. Zacks Research raised Robert Half from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. Robert W. Baird set a $53.00 target price on shares of Robert Half in a research note on Friday. BMO Capital Markets raised shares of Robert Half from a "market perform" rating to an "outperform" rating and set a $47.00 price target for the company in a research report on Monday, July 27th. Finally, Weiss Ratings downgraded shares of Robert Half from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, October 9th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Robert Half currently has an average rating of "Hold" and a consensus target price of $38.50.

Robert Half News Roundup

Here are the key news stories impacting Robert Half this week:

• Positive Sentiment: Earnings beat expectations: Robert Half reported third-quarter revenue of $1.359 billion, broadly in line with estimates, while earnings per share rose to $0.49 from $0.43 a year earlier and exceeded the $0.47 consensus. Robert Half Reports Third-Quarter Financial Results
• Positive Sentiment: Talent Solutions returned to growth: Adjusted Talent Solutions revenue increased 2% year over year, its first increase since 2022. Permanent placement revenue grew 6%, while contract talent revenue increased 1%, suggesting staffing demand is stabilizing. Robert Half: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Improving demand and guidance: Management cited better hiring activity, stronger October trends in key staffing categories, and improving demand for risk and compliance consulting. Fourth-quarter guidance implies approximately 3% adjusted revenue growth and roughly 30% earnings growth at the midpoint. How Staffing Firm Robert Half Is Bucking a Stalling Job Market
• Positive Sentiment: Compliance opportunity: Recent regulatory enforcement and bank fines are creating a potentially lucrative pipeline for Robert Half’s risk and compliance consulting business. Management also said artificial intelligence is changing required skills rather than eliminating demand for staffing and consulting roles. Why Robert Half Stock Jumped More Than 20% Today
• Neutral Sentiment: Analyst reaction was supportive but cautious: JPMorgan raised its price target from $40 to $45 but maintained a “neutral” rating, while other brokerages reportedly lifted targets following the results. Robert Half Stock Rises as Analysts Lift Targets

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Basecamp Wealth Advisors LLC increased its position in shares of Robert Half by 19.4% during the first quarter. Basecamp Wealth Advisors LLC now owns 2,164 shares of the business services provider's stock valued at $55,000 after purchasing an additional 351 shares during the period. Altar Rock LLC grew its position in Robert Half by 4.0% in the second quarter. Altar Rock LLC now owns 9,554 shares of the business services provider's stock valued at $293,000 after purchasing an additional 365 shares in the last quarter. Elevation Wealth Partners LLC increased its position in shares of Robert Half by 35.4% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,538 shares of the business services provider's stock worth $57,000 after purchasing an additional 402 shares during the last quarter. GAMMA Investing LLC grew its stake in Robert Half by 8.4% in the 3rd quarter. GAMMA Investing LLC now owns 7,865 shares of the business services provider's stock valued at $289,000 after buying an additional 610 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Robert Half by 4.8% in the third quarter. Signaturefd LLC now owns 13,822 shares of the business services provider's stock valued at $508,000 after purchasing an additional 631 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company's stock.

Robert Half Price Performance

The stock has a market capitalization of $4.71 billion, a P/E ratio of 38.04 and a beta of 0.84. The firm has a 50-day simple moving average of $38.81 and a 200 day simple moving average of $34.25.

Robert Half (NYSE:RHI - Get Free Report) last released its earnings results on Thursday, October 22nd. The business services provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. Robert Half had a return on equity of 9.83% and a net margin of 2.30%. The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter last year, the firm posted $0.43 earnings per share. The firm's revenue was up .4% on a year-over-year basis. Sell-side analysts anticipate that Robert Half Inc. will post 1.27 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, August 25th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Tuesday, August 25th. Robert Half's dividend payout ratio is 195.04%.

Robert Half Company Profile

Robert Half Inc NYSE: RHI is a global talent solutions and business consulting company. Through its Robert Half brand, the company provides temporary, project-based and permanent staffing services, connecting employers with professionals in accounting and finance, administrative and customer support, technology, legal, and marketing and creative fields.

Robert Half also operates Protiviti, a global consulting firm that helps organizations address internal audit, risk and compliance, technology, business performance, and digital transformation challenges.

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