DA Davidson Reiterates “Buy” Rating for HireQuest (NASDAQ:HQI)

HireQuest (NASDAQ:HQI)‘s stock had its “buy” rating restated by equities research analysts at DA Davidson in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $15.00 price objective on the stock. DA Davidson’s target price would indicate a potential upside of 27.88% from the stock’s current price.

Several other brokerages also recently commented on HQI. Wall Street Zen raised shares of HireQuest to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of HireQuest in a research report on Friday, April 10th. Finally, Barrington Research reissued an “outperform” rating and set a $13.00 price objective on shares of HireQuest in a research report on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

HireQuest Trading Up 3.0%

Shares of HQI traded up $0.34 on Wednesday, reaching $11.73. 4,355 shares of the company’s stock were exchanged, compared to its average volume of 22,110. The stock has a market capitalization of $163.52 million, a P/E ratio of 26.06 and a beta of 1.08. The business has a 50 day moving average price of $10.73 and a two-hundred day moving average price of $10.17. HireQuest has a 12 month low of $7.38 and a 12 month high of $12.48.

HireQuest (NASDAQ:HQI) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $6.52 million during the quarter, compared to the consensus estimate of $6.75 million. HireQuest had a net margin of 20.66% and a return on equity of 14.41%. Equities research analysts predict that HireQuest will post 0.53 EPS for the current year.

Institutional Trading of HireQuest

Several hedge funds and other institutional investors have recently modified their holdings of HQI. Wells Fargo & Company MN boosted its holdings in shares of HireQuest by 47.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,333 shares of the company’s stock worth $67,000 after buying an additional 2,031 shares during the period. Renaissance Technologies LLC bought a new stake in shares of HireQuest during the 4th quarter worth about $112,000. Deutsche Bank AG raised its stake in HireQuest by 158.0% in the 4th quarter. Deutsche Bank AG now owns 10,945 shares of the company’s stock worth $115,000 after purchasing an additional 6,702 shares in the last quarter. GWN Securities Inc. raised its stake in HireQuest by 27.3% in the 3rd quarter. GWN Securities Inc. now owns 16,366 shares of the company’s stock worth $157,000 after purchasing an additional 3,508 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in HireQuest by 67.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 26,303 shares of the company’s stock worth $263,000 after purchasing an additional 10,627 shares in the last quarter. Institutional investors own 12.00% of the company’s stock.

HireQuest Company Profile

HireQuest, Inc is a publicly traded holding company that provides equipment rental and workforce solutions across North America through two primary operating subsidiaries. Its Coast Equipment Rentals division offers a broad range of support equipment—such as pumps, trench safety systems, power and HVAC units, air compressors, light towers and generators—to the construction, industrial, municipal and environmental markets. Coast Equipment Rentals operates more than 135 branch locations in 36 U.S.