Barrington Research Issues Positive Forecast for HireQuest (NASDAQ:HQI) Stock Price

HireQuest (NASDAQ:HQI) had its price objective hoisted by stock analysts at Barrington Research from $13.00 to $15.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Barrington Research’s price target would indicate a potential upside of 22.59% from the stock’s current price.

A number of other equities research analysts have also issued reports on HQI. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of HireQuest in a research note on Friday, April 10th. DA Davidson reiterated a “buy” rating and set a $15.00 target price on shares of HireQuest in a report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.00.

HireQuest Price Performance

HireQuest stock traded down $0.15 during mid-day trading on Monday, reaching $12.24. The company had a trading volume of 10,153 shares, compared to its average volume of 22,041. HireQuest has a 1 year low of $7.38 and a 1 year high of $13.19. The company has a market capitalization of $170.08 million, a P/E ratio of 26.94 and a beta of 1.08. The stock’s 50-day simple moving average is $10.80 and its 200-day simple moving average is $10.25.

HireQuest (NASDAQ:HQI) last issued its earnings results on Tuesday, May 12th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. HireQuest had a net margin of 21.98% and a return on equity of 14.90%. The company had revenue of $6.52 million during the quarter, compared to analysts’ expectations of $6.75 million. On average, equities analysts forecast that HireQuest will post 0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN boosted its holdings in shares of HireQuest by 47.2% during the fourth quarter. Wells Fargo & Company MN now owns 6,333 shares of the company’s stock worth $67,000 after purchasing an additional 2,031 shares during the last quarter. Renaissance Technologies LLC acquired a new position in HireQuest in the fourth quarter valued at $112,000. Deutsche Bank AG increased its stake in HireQuest by 158.0% in the fourth quarter. Deutsche Bank AG now owns 10,945 shares of the company’s stock valued at $115,000 after purchasing an additional 6,702 shares during the last quarter. Russell Investments Group Ltd. increased its stake in HireQuest by 67.8% in the second quarter. Russell Investments Group Ltd. now owns 26,303 shares of the company’s stock valued at $263,000 after purchasing an additional 10,627 shares during the last quarter. Finally, State Street Corp increased its stake in HireQuest by 1.9% in the fourth quarter. State Street Corp now owns 76,866 shares of the company’s stock valued at $808,000 after purchasing an additional 1,451 shares during the last quarter. 12.00% of the stock is currently owned by institutional investors and hedge funds.

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.