Robert Half International (NYSE:RHI) reached a new 52-week high and low during mid-day trading on Friday . The stock traded as low as $60.83 and last traded at $58.18, with a volume of 716101 shares. The stock had previously closed at $60.55.
Several research firms have recently issued reports on RHI. BMO Capital Markets restated a “hold” rating and issued a $59.00 target price on shares of Robert Half International in a report on Thursday. Barclays upgraded shares of Robert Half International from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $62.00 to $66.00 in a report on Tuesday, April 3rd. Zacks Investment Research lowered shares of Robert Half International from a “buy” rating to a “hold” rating in a report on Tuesday, April 3rd. Royal Bank of Canada raised their target price on shares of Robert Half International to $62.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Finally, ValuEngine upgraded shares of Robert Half International from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $58.30.
The company has a market capitalization of $7,485.92, a P/E ratio of 23.38 and a beta of 1.18.
Robert Half International declared that its board has approved a stock buyback program on Tuesday, February 13th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Robert W. Glass sold 12,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $56.21, for a total value of $674,520.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael C. Buckley sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $57.84, for a total transaction of $578,400.00. The disclosure for this sale can be found here. Insiders sold a total of 457,247 shares of company stock worth $25,936,679 in the last ninety days. 3.40% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of RHI. Tower Research Capital LLC TRC purchased a new position in Robert Half International during the 4th quarter valued at about $101,000. Assetmark Inc. increased its position in Robert Half International by 47,875.0% during the 4th quarter. Assetmark Inc. now owns 1,919 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 1,915 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Robert Half International during the 4th quarter valued at about $138,000. James Hambro & Partners purchased a new position in Robert Half International during the 4th quarter valued at about $164,000. Finally, Vident Investment Advisory LLC purchased a new position in Robert Half International during the 4th quarter valued at about $208,000. 85.55% of the stock is currently owned by institutional investors.
About Robert Half International
Robert Half International Inc provides staffing and risk consulting services in North America, South America, Europe, Asia, and Australia. The company operates through three segments: Temporary and Consultant Staffing, Permanent Placement Staffing, and Risk Consulting and Internal Audit Services. It places temporary personnel for accounting, finance, and bookkeeping; temporary and full-time office and administrative personnel consisting of executive and administrative assistants, receptionists, and customer service representatives; full-time accounting, financial, tax, and accounting operations personnel; and information technology contract consultants and full-time employees in the areas of platform systems integration to end-user technical and desktop support, including specialists in application development, networking, systems integration and deployment, database design and administration, and security and business continuity.
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