Robert Half International Inc. (NYSE: RHI) shares fell in early trading today on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a downgraded rating.
Analysts at Credit Suisse Group AG downgraded shares of Robert Half International Inc. (NYSE: RHI) from Neutral to Underperform in a research note to investors today. The company currently has a rating of Underperform on the shares. As a means of comparison, a number of other analysts have commented on the company in recent days, and Robert Half International Inc. has secured a consensus one-year price target of $40.41, higher than the opening price of $36.61. Robert Half International Inc. stock has a 52-week high of $54.01. Downgrades occur when analysts consider that the future prospects for the security have diminished from the original recommendation, usually due to an important and fundamental change in the company’s actions, future outlook or industry.
Meanwhile, US stock opened lower amid concerns surrounding the U.S. Department of Justice’s probe into Deutsche Bank AG.
The S&P 500 SPX, -0.25% slipped 5 points, or 0.2%, to 2,162.
The Dow industrials DJIA, -0.26% fell 55 points, or 0.3%, to 18,252.
The Nasdaq Composite COMP, -0.11% was off 13 points, or 0.3%, to 5,298
Shares of Robert Half International Inc. (NYSE: RHI) opened at $36.61 yesterday and traded in a range between, $36.61 and $37.82, and last traded at $37.76, a dip of $0.10 per share or -0.00 over the previous closing price.
Robert Half International Inc. (NYSE: RHI) now has a market cap of 4.86B.
Robert Half International Inc.Trading Volume
The stock’s average daily volume is 1,149,280 shares out of a total float 124,406,000 and some 352,218 shares crossed the trading desk yesterday, lower than the norm. Momentum traders often use swings in trading volume to determine large volume accumulation or dissemination by institutional investors, so trading volume is likely to increase in the next few days.
While an increase in trading for short periods will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks delivers a positive cue to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have substantial teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you are researching.
Robert Half International Inc. Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By marking the activity of these professional investors and how they influence moving averages, traders are able to make make educated trades.
Trades for Robert Half International Inc. (NYSE: RHI) have ranged from $34.34 – 54.01, and the stock now has a 50-day MA of $37.88 and 200-day MA of $39.88. Today’s last price is 0.30% under the 52 week high of $54.01.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors watch for companies that have grown their earnings by at least 25% for a 3 year period.
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