Robert Half (NYSE:RHI) Downgraded to Strong Sell Rating by Zacks Research

Key Points

• Robert Half's stock was downgraded by Zacks Research from a "hold" rating to a "strong sell," following other analysts adjusting their ratings and price objectives.
• The company's recent earnings report showed a net margin of 3.20% and a revenue decline of 7.0% year-over-year, despite surpassing earnings estimates.
• Institutional investors hold 92.41% of Robert Half's shares, with various hedge funds recently increasing their positions in the company.

Robert Half (NYSE:RHI - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on RHI. JPMorgan Chase & Co. decreased their price objective on shares of Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. Wall Street Zen raised Robert Half from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $45.83.

Robert Half Stock Performance

NYSE:RHI opened at $33.74 on Monday. The company has a market capitalization of $3.43 billion, a P/E ratio of 19.28 and a beta of 1.03. The stock's 50 day moving average price is $36.95 and its 200 day moving average price is $43.24. Robert Half has a 52 week low of $33.18 and a 52 week high of $78.41.

Robert Half (NYSE:RHI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. Robert Half had a net margin of 3.20% and a return on equity of 13.00%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The company's revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Robert Half will post 2.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Robert Half

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC increased its position in Robert Half by 45.0% during the first quarter. Manchester Capital Management LLC now owns 825 shares of the business services provider's stock worth $45,000 after acquiring an additional 256 shares during the period. Strengthening Families & Communities LLC grew its position in Robert Half by 11.9% in the 2nd quarter. Strengthening Families & Communities LLC now owns 2,479 shares of the business services provider's stock worth $102,000 after purchasing an additional 263 shares during the last quarter. Quarry LP increased its holdings in shares of Robert Half by 540.8% during the 1st quarter. Quarry LP now owns 487 shares of the business services provider's stock worth $27,000 after purchasing an additional 411 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Robert Half by 9.4% during the second quarter. Janney Montgomery Scott LLC now owns 4,952 shares of the business services provider's stock valued at $203,000 after buying an additional 424 shares during the last quarter. Finally, Yousif Capital Management LLC raised its position in shares of Robert Half by 1.1% during the second quarter. Yousif Capital Management LLC now owns 40,723 shares of the business services provider's stock valued at $1,672,000 after buying an additional 427 shares during the last quarter. Institutional investors and hedge funds own 92.41% of the company's stock.

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.

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