Robert Half (NYSE:RHI) Hits New 1-Year Low - Time to 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) shares hit a new 52-week low on Wednesday . The company traded as low as $38.34 and last traded at $38.40, with a volume of 1456593 shares changing hands. The stock had previously closed at $39.49.

Analysts Set New Price Targets

RHI has been the topic of a number of research reports. BNP Paribas downgraded 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. The Goldman Sachs Group lowered their price target on Robert Half from $46.00 to $40.00 and set a "sell" rating for the company in a research note on Thursday, April 24th. Wall Street Zen raised Robert Half from a "sell" rating to a "hold" rating in a research note on Sunday. Truist Financial set a $55.00 price target on Robert Half and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. lowered their price target on Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $45.83.

Robert Half Stock Down 4.3%

The stock has a market cap of $3.61 billion, a P/E ratio of 20.19 and a beta of 1.02. The business has a 50-day simple moving average of $42.19 and a 200-day simple moving average of $50.08.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RHI. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Robert Half in the first quarter valued at $3,195,000. GAMMA Investing LLC raised its stake in Robert Half by 92.9% during the first quarter. GAMMA Investing LLC now owns 2,091 shares of the business services provider's stock worth $114,000 after acquiring an additional 1,007 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in 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 worth $4,166,000 after acquiring an additional 3,248 shares in the last quarter. Allworth Financial LP raised its stake in 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 acquired a new position in Robert Half during the first quarter worth $33,000. 92.41% of the stock is currently owned by institutional investors and hedge funds.

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.