Robert Half (NYSE:RHI) Reaches New 12-Month Low - Should You Sell?

Key Points

• Robert Half's share price hit a new 52-week low at $38.34, down from a previous close of $39.49, with a trading volume of over 1.4 million shares.
• Several analysts have downgraded their ratings for Robert Half, with Goldman Sachs setting a target price of $40.00 and a sell rating, while Truist Financial maintains a buy rating with a target of $55.00.
• The company reported earnings of $0.41 per share for the most recent quarter, slightly above expectations, but its revenue declined by 7% year-over-year to $1.37 billion.

Robert Half Inc. (NYSE:RHI - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The stock traded as low as $38.34 and last traded at $38.40, with a volume of 1456593 shares. The stock had previously closed at $39.49.

Wall Street Analysts Forecast Growth

RHI has been the topic of a number of recent analyst reports. BNP Paribas downgraded shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 target price on the stock. in a report on Friday, May 2nd. Barclays reduced their target price on Robert Half from $50.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. cut their price target on Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. Truist Financial set a $55.00 price objective on shares of Robert Half and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, Wall Street Zen cut shares of Robert Half from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Robert Half has a consensus rating of "Hold" and an average target price of $45.83.

Robert Half Stock Down 4.3%

The company has a market cap of $3.61 billion, a P/E ratio of 20.19 and a beta of 1.02. The firm's 50 day moving average is $42.19 and its two-hundred day moving average is $50.22.

Robert Half (NYSE:RHI - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share (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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business earned $0.66 EPS. The company's revenue was down 7.0% compared to the same quarter last year. As a group, research analysts forecast that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Robert Half in the 1st quarter worth $3,195,000. GAMMA Investing LLC lifted its stake in shares of Robert Half by 92.9% in the first quarter. GAMMA Investing LLC now owns 2,091 shares of the business services provider's stock valued at $114,000 after buying an additional 1,007 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Robert Half by 4.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 76,378 shares of the business services provider's stock valued at $4,166,000 after buying an additional 3,248 shares during the last quarter. Allworth Financial LP increased its position in shares of Robert Half by 80.4% during the first quarter. Allworth Financial LP now owns 1,458 shares of the business services provider's stock worth $80,000 after acquiring an additional 650 shares in the last quarter. Finally, CX Institutional bought a new stake in shares of Robert Half during the first quarter worth about $33,000. 92.41% of the stock is owned by institutional investors and hedge funds.

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.