Wall Street Zen downgraded shares of HireQuest (NASDAQ:HQI – Free Report) from a strong-buy rating to a buy rating in a report issued on Sunday morning,Wall Street Zen reports.
Other analysts also recently issued research reports about the stock. DA Davidson upped their price target on shares of HireQuest from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Weiss Ratings raised shares of HireQuest from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Barrington Research set a $19.00 price objective on HireQuest in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.
Check Out Our Latest Analysis on HireQuest
HireQuest Price Performance
HireQuest stock opened at $16.31 on Friday. The business’s 50-day moving average price is $17.31 and its two-hundred day moving average price is $13.34. HireQuest has a 12-month low of $7.38 and a 12-month high of $20.84. The stock has a market cap of $226.71 million, a PE ratio of 28.61 and a beta of 1.26.
HireQuest (NASDAQ:HQI – Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.13 by $0.10. HireQuest had a net margin of 27.06% and a return on equity of 16.35%. The company had revenue of $8.10 million for the quarter, compared to analyst estimates of $7.10 million. As a group, analysts expect that HireQuest will post 0.80 earnings per share for the current year.
HireQuest Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.24 dividend on an annualized basis and a yield of 1.5%. HireQuest’s payout ratio is presently 42.11%.
Hedge Funds Weigh In On HireQuest
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of HireQuest during the 2nd quarter valued at about $3,381,000. NewEdge Wealth LLC bought a new stake in shares of HireQuest in the second quarter worth $1,169,000. RMR Capital Management LLC grew its position in shares of HireQuest by 20.3% during the 1st quarter. RMR Capital Management LLC now owns 29,614 shares of the company’s stock worth $296,000 after purchasing an additional 5,000 shares in the last quarter. Ancora Advisors LLC acquired a new position in HireQuest in the 2nd quarter valued at approximately $315,000. Finally, Global Strategic Investment Solutions LLC acquired a new position in shares of HireQuest during the second quarter valued at about $208,000. Institutional investors and hedge funds own 12.00% of the company’s stock.
About HireQuest
HireQuest, Inc (NASDAQ: HQI) is a franchisor of staffing and workforce-solutions businesses. Through its network of independently owned and operated offices, the company supports the placement of temporary and permanent employees across a range of industries, including construction, light industrial, manufacturing, hospitality, logistics, office services and healthcare.
HireQuest’s brands include HireQuest, HireQuest Direct and Snelling, among others. Its staffing offices typically recruit, screen and place workers with client companies, while providing services such as payroll administration, workforce coordination and other employment-related support.
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