HireQuest’s (HQI) “Outperform” Rating Reiterated at Barrington Research
by Tristan Rich · The Markets DailyHireQuest (NASDAQ:HQI – Get Free Report)‘s stock had its “outperform” rating restated by Barrington Research in a report released on Monday,Benzinga reports. They currently have a $13.00 price target on the stock. Barrington Research’s price target suggests a potential upside of 26.46% from the stock’s previous close.
A number of other analysts have also weighed in on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of HireQuest in a research report on Friday. Wall Street Zen raised shares of HireQuest to a “hold” rating in a research report on Saturday, January 17th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, HireQuest currently has an average rating of “Moderate Buy” and a consensus price target of $14.00.
Check Out Our Latest Stock Report on HQI
HireQuest Price Performance
HireQuest stock opened at $10.28 on Monday. HireQuest has a 1-year low of $7.38 and a 1-year high of $12.48. The firm has a market capitalization of $143.92 million, a P/E ratio of 22.84 and a beta of 1.04. The company’s 50-day moving average is $10.81 and its 200 day moving average is $9.88.
HireQuest declared that its Board of Directors has approved a share buyback program on Wednesday, December 17th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 18.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.
Hedge Funds Weigh In On HireQuest
A number of institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of 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 during the period. Wells Fargo & Company MN increased its position 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 acquiring an additional 2,031 shares during the period. GWN Securities Inc. increased its position in shares of HireQuest by 27.3% during the third quarter. GWN Securities Inc. now owns 16,366 shares of the company’s stock worth $157,000 after acquiring an additional 3,508 shares during the period. Geode Capital Management LLC increased its position in shares of 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 during the period. Finally, Deutsche Bank AG increased its position in shares of HireQuest by 158.0% during the fourth quarter. Deutsche Bank AG now owns 10,945 shares of the company’s stock worth $115,000 after acquiring an additional 6,702 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.