Robert Half International (NYSE:RHI) had its price target hoisted by stock analysts at BMO Capital Markets from $59.00 to $62.00 in a report issued on Wednesday. The firm presently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ price objective points to a potential upside of 1.66% from the company’s previous close.
RHI has been the topic of a number of other research reports. Royal Bank of Canada reiterated a “hold” rating and issued a $57.00 price target on shares of Robert Half International in a research report on Wednesday, December 27th. Deutsche Bank upped their price target on Robert Half International from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, December 28th. SunTrust Banks upped their price target on Robert Half International to $58.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Zacks Investment Research lowered Robert Half International from a “buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. Finally, Goldman Sachs initiated coverage on Robert Half International in a research report on Tuesday, March 27th. They issued a “neutral” rating and a $63.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $59.10.
RHI traded up $3.54 on Wednesday, reaching $60.99. The stock had a trading volume of 877,006 shares, compared to its average volume of 1,173,975. Robert Half International has a fifty-two week low of $42.92 and a fifty-two week high of $61.40. The stock has a market cap of $7,215.16, a PE ratio of 23.46 and a beta of 1.18.
Robert Half International announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 13th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, COO Paul F. Gentzkow sold 205,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $56.31, for a total transaction of $11,543,550.00. Following the sale, the chief operating officer now owns 499,733 shares in the company, valued at approximately $28,139,965.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Paul F. Gentzkow sold 130,247 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $56.31, for a total value of $7,334,208.57. Following the sale, the chief operating officer now owns 499,733 shares in the company, valued at approximately $28,139,965.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 457,247 shares of company stock worth $25,936,679. 3.40% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in RHI. Dimensional Fund Advisors LP boosted its position in shares of Robert Half International by 30.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 993,577 shares of the business services provider’s stock valued at $50,017,000 after purchasing an additional 233,865 shares in the last quarter. OxFORD Asset Management LLP acquired a new position in Robert Half International during the 3rd quarter worth approximately $490,000. Neuberger Berman Group LLC raised its stake in Robert Half International by 11.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 10,128 shares of the business services provider’s stock worth $510,000 after buying an additional 1,070 shares during the period. Pensionfund DSM Netherlands acquired a new position in Robert Half International during the 4th quarter worth approximately $3,221,000. Finally, Pensionfund Sabic acquired a new position in Robert Half International during the 4th quarter worth approximately $1,611,000. Institutional investors own 85.78% of the company’s stock.
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Robert Half International Company Profile
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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