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

HireQuest (NASDAQ:HQI)‘s stock had its “buy” rating reissued by equities researchers at DA Davidson in a report released on Wednesday,Benzinga reports. They presently have a $15.00 target price on the stock. DA Davidson’s target price points to a potential upside of 27.88% from the company’s previous close.

A number of other research firms have also recently issued reports on HQI. Wall Street Zen upgraded shares of HireQuest to a “hold” rating in a research report on Saturday, January 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of HireQuest in a research report on Friday, April 10th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $13.00 price target on shares of HireQuest in a research note on Monday, April 13th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.00.

HireQuest Stock Up 3.0%

Shares of NASDAQ:HQI traded up $0.34 during midday trading on Wednesday, hitting $11.73. The stock had a trading volume of 4,355 shares, compared to its average volume of 22,110. The company’s 50-day moving average price is $10.73 and its 200-day moving average price is $10.17. The company has a market capitalization of $163.52 million, a P/E ratio of 26.06 and a beta of 1.08. HireQuest has a fifty-two week low of $7.38 and a fifty-two week high of $12.48.

HireQuest (NASDAQ:HQI) last issued its earnings results on Tuesday, May 12th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $6.52 million during the quarter, compared to analysts’ expectations of $6.75 million. HireQuest had a net margin of 20.66% and a return on equity of 14.41%. Research analysts expect that HireQuest will post 0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted 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 acquiring an additional 12,246 shares in the last quarter. Geode Capital Management LLC boosted its stake in HireQuest by 4.3% during the second quarter. Geode Capital Management LLC now owns 139,141 shares of the company’s stock worth $1,393,000 after acquiring an additional 5,685 shares in the last quarter. State Street Corp boosted its stake in HireQuest by 1.9% during the fourth quarter. State Street Corp now owns 76,866 shares of the company’s stock worth $808,000 after acquiring an additional 1,451 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of 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 buying an additional 10,627 shares in the last quarter. Finally, GWN Securities Inc. lifted its stake in shares of HireQuest by 27.3% in the third 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. 12.00% of the stock is owned by 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.