Barrington Research Cuts HireQuest (NASDAQ:HQI) Price Target to $16.00

HireQuest (NASDAQ:HQI) had its price objective reduced by equities researchers at Barrington Research from $18.00 to $16.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Barrington Research’s price objective would indicate a potential upside of 31.47% from the stock’s current price.

HireQuest Price Performance

Shares of NASDAQ:HQI traded down $0.05 on Monday, reaching $12.17. 12,975 shares of the company traded hands, compared to its average volume of 14,692. The stock has a market capitalization of $170.38 million, a PE ratio of 110.64 and a beta of 1.03. The company’s 50 day moving average is $13.61 and its 200-day moving average is $13.94. HireQuest has a fifty-two week low of $11.39 and a fifty-two week high of $15.75.

HireQuest (NASDAQ:HQI) last posted its quarterly earnings data on Thursday, March 27th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. HireQuest had a return on equity of 11.02% and a net margin of 4.04%. The firm had revenue of $8.08 million for the quarter, compared to the consensus estimate of $9.30 million. As a group, analysts expect that HireQuest will post 0.28 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in HireQuest by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 132,303 shares of the company’s stock valued at $1,874,000 after acquiring an additional 909 shares in the last quarter. Bank of New York Mellon Corp increased its stake in HireQuest by 31.8% in the 4th quarter. Bank of New York Mellon Corp now owns 111,488 shares of the company’s stock valued at $1,579,000 after buying an additional 26,913 shares during the period. Northern Trust Corp lifted its position in HireQuest by 9.0% in the 4th quarter. Northern Trust Corp now owns 53,808 shares of the company’s stock worth $762,000 after buying an additional 4,449 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of HireQuest during the 4th quarter valued at $309,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of HireQuest by 110.8% during the 4th quarter. JPMorgan Chase & Co. now owns 20,939 shares of the company’s stock valued at $296,000 after acquiring an additional 11,007 shares in the last quarter. 12.00% of the stock is owned by institutional investors and hedge funds.

HireQuest Company Profile

HireQuest, Inc provides temporary staffing services in the United States. It offers staffing services, including direct-dispatch, executive search, consultant, unskilled and semi-skilled industrial and construction personnel, clerical and administrative personnel, and permanent placement services, as well as commercial and non-CDL drivers, and skilled personnel in the medical and dental industries.