Robert Half (NYSE:RHI) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial raised its price target on Robert Half from $40 to $50 and kept a buy rating, implying about 21.9% upside from the prior close.
• Analyst sentiment remains mixed overall: while some firms upgraded the stock, the broader consensus from MarketBeat is still “Reduce” with an average price target of $32.88.
• Robert Half recently reported quarterly EPS of $0.14, matching expectations, but revenue of $1.30 billion came in below estimates and fell 3.8% year over year.

Robert Half (NYSE:RHI - Get Free Report) had its price objective hoisted by stock analysts at Truist Financial from $40.00 to $50.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the business services provider's stock. Truist Financial's price objective points to a potential upside of 21.94% from the company's previous close.

A number of other equities research analysts have also weighed in on the stock. William Blair raised shares of Robert Half from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 21st. The Goldman Sachs Group increased their price target on shares of Robert Half from $23.00 to $26.00 and gave the stock a "sell" rating in a research note on Tuesday, July 14th. Zacks Research upgraded shares of Robert Half from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. Finally, Weiss Ratings upgraded Robert Half from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $32.88.

Robert Half Stock Down 0.4%

Shares of Robert Half stock traded down $0.15 during trading on Wednesday, hitting $41.01. 460,762 shares of the stock traded hands, compared to its average volume of 2,847,461. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 31.56 and a beta of 0.82. The firm's fifty day moving average is $31.43 and its 200-day moving average is $28.18. Robert Half has a 52 week low of $21.83 and a 52 week high of $43.26.

Robert Half (NYSE:RHI - Get Free Report) last released its earnings results on Thursday, April 23rd. The business services provider reported $0.14 earnings per share for the quarter, meeting analysts' consensus estimates of $0.14. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.34 billion. Robert Half had a return on equity of 10.14% and a net margin of 2.43%.Robert Half's revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 EPS. On average, analysts forecast that Robert Half will post 1.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Robert Half during the 2nd quarter valued at about $34,000. Gilpin Wealth Management LLC bought a new position in shares of Robert Half in the 4th quarter worth approximately $27,000. Larson Financial Group LLC boosted its holdings in shares of Robert Half by 321.0% in the fourth quarter. Larson Financial Group LLC now owns 1,002 shares of the business services provider's stock worth $27,000 after buying an additional 764 shares during the last quarter. Danske Bank A S purchased a new position in shares of Robert Half in the third quarter worth approximately $37,000. Finally, Elevation Wealth Partners LLC raised its position in Robert Half by 605.6% in the second quarter. Elevation Wealth Partners LLC now owns 1,136 shares of the business services provider's stock worth $35,000 after acquiring an additional 975 shares during the period. 92.41% of the stock is owned by hedge funds and other institutional investors.

About Robert Half

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half's shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.

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