Wall Street Zen Upgrades HireQuest (NASDAQ:HQI) to Buy
by Teresa Graham · The Cerbat GemHireQuest (NASDAQ:HQI – Get Free Report) was upgraded by Wall Street Zen to a “buy” rating in a report released on Saturday, Wall Street Zen reports.
A number of other analysts also recently commented on HQI. DA Davidson increased their price objective on shares of HireQuest from $15.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Barrington Research set a $19.00 target price on HireQuest in a report on Wednesday, August 12th. Finally, Weiss Ratings upgraded HireQuest from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, HireQuest presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.
Read Our Latest Research Report on HQI
HireQuest Price Performance
HireQuest stock opened at $16.14 on Friday. The company has a fifty day simple moving average of $14.35 and a 200-day simple moving average of $12.53. The firm has a market capitalization of $224.35 million, a price-to-earnings ratio of 28.32 and a beta of 1.14. HireQuest has a 52-week low of $7.38 and a 52-week high of $19.01.
HireQuest (NASDAQ:HQI – Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.10. The firm had revenue of $8.10 million for the quarter, compared to the consensus estimate of $7.10 million. HireQuest had a net margin of 27.06% and a return on equity of 16.35%. On average, research analysts anticipate that HireQuest will post 0.8 EPS for the current fiscal year.
Institutional Investors Weigh In On HireQuest
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in HireQuest by 4.4% during the third quarter. Vanguard Group Inc. now owns 293,013 shares of the company’s stock worth $2,819,000 after purchasing an additional 12,246 shares during the period. BlackRock Inc. purchased a new stake in shares of HireQuest in the 2nd quarter valued at approximately $3,381,000. Geode Capital Management LLC grew its stake in shares of HireQuest by 4.3% in the 2nd quarter. Geode Capital Management LLC now owns 139,141 shares of the company’s stock valued at $1,393,000 after buying an additional 5,685 shares during the period. NewEdge Wealth LLC acquired a new stake in shares of HireQuest during the 2nd quarter worth approximately $1,169,000. Finally, State Street Corp increased its holdings in shares of HireQuest by 1.9% during the 4th quarter. State Street Corp now owns 76,866 shares of the company’s stock worth $808,000 after buying an additional 1,451 shares during the last quarter. Hedge funds and other institutional investors own 12.00% of the company’s stock.
About HireQuest
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.