HireQuest (NASDAQ:HQI) Stock Rating Upgraded by Wall Street Zen

HireQuest (NASDAQ:HQI) was upgraded by equities researchers at Wall Street Zen to a “hold” rating in a research note issued on Saturday.

Other research analysts have also recently issued reports about the stock. Weiss Ratings raised shares of HireQuest from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Barrington Research reissued an “outperform” rating and issued a $13.00 target price on shares of HireQuest in a research note on Wednesday, November 12th. Finally, DA Davidson set a $15.00 price target on HireQuest in a research report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

HireQuest Stock Down 0.2%

HQI opened at $10.94 on Friday. HireQuest has a 52 week low of $7.38 and a 52 week high of $15.75. The stock has a market cap of $154.25 million, a PE ratio of 21.88 and a beta of 1.10. The business has a 50 day moving average of $9.36 and a 200-day moving average of $9.46.

HireQuest (NASDAQ:HQI) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. HireQuest had a return on equity of 14.48% and a net margin of 21.92%.The business had revenue of $8.50 million during the quarter, compared to the consensus estimate of $8.11 million. Equities analysts anticipate that HireQuest will post 0.28 EPS for the current year.

HireQuest declared that its board has authorized a stock repurchase plan on Wednesday, December 17th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to repurchase up to 18.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at HireQuest

In related news, CEO Richard Hermanns bought 9,704 shares of the business’s stock in a transaction on Tuesday, December 30th. The stock was acquired at an average price of $10.28 per share, with a total value of $99,757.12. Following the transaction, the chief executive officer owned 2,951,283 shares in the company, valued at approximately $30,339,189.24. This trade represents a 0.33% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders have purchased a total of 28,980 shares of company stock valued at $276,165 in the last 90 days. Company insiders own 43.50% of the company’s stock.

Institutional Trading of HireQuest

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GWN Securities Inc. lifted its stake in shares of HireQuest by 27.3% during the 3rd quarter. GWN Securities Inc. now owns 16,366 shares of the company’s stock valued at $157,000 after buying an additional 3,508 shares in the last quarter. Geode Capital Management LLC increased its stake in HireQuest by 4.3% in the 2nd quarter. Geode Capital Management LLC now owns 139,141 shares of the company’s stock worth $1,393,000 after buying an additional 5,685 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in HireQuest by 67.8% during the second quarter. Russell Investments Group Ltd. now owns 26,303 shares of the company’s stock valued at $263,000 after acquiring an additional 10,627 shares during the period. Finally, Vanguard Group Inc. raised its holdings in HireQuest by 4.4% during the third quarter. Vanguard Group Inc. now owns 293,013 shares of the company’s stock valued at $2,819,000 after acquiring an additional 12,246 shares during the period. 12.00% of the stock is owned by hedge funds and other institutional investors.

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.