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Robert Half International: It's Cheap, But For A Reason

Feb. 12, 2023 6:47 AM ETRobert Half Inc. (RHI)7 Comments


  • Robert Half International is a company I've considered writing about for about a year or so. It became more interesting after the decline.
  • Robert Half isn't the largest or most significant company in its sector, but it's a quality business with a good upside under the right circumstances.
  • The company may look attractive here, but I believe there are near-term risks that cap the overall upside.
  • I'm at a "HOLD" - and here is why.
  • Looking for more investing ideas like this one? Get them exclusively at iREIT on Alpha. Learn More »

Finance team meets to discuss budget

SDI Productions

Dear readers/followers,

Robert Half (NYSE:RHI) is a California-based Human resources management company. I've had the company on my US mid-cap radar for some time, and it's part of my long-term overall watchlist of companies that might become interesting. In

The company discussed in this article is only one potential investment in the sector. Members of iREIT on Alpha get access to investment ideas with upsides that I view as significantly higher/better than this one. Consider subscribing and learning more here.

This article was written by

Wolf Report profile picture

Wolf Report is a senior analyst and private portfolio manager with over 10 years generating value ideas in European and North American markets.

He is a contributing author for the investing group iREIT on Alpha where in addition to the U.S. market, he covers the markets of Scandinavia, Germany, France, UK, Italy, Spain, Portugal and Eastern Europe in search of reasonably valued stock ideas. Learn more.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of RANJY either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

While this article may sound like financial advice, please observe that the author is not a CFA or in any way licensed to give financial advice. It may be structured as such, but it is not financial advice. Investors are required and expected to do their own due diligence and research prior to any investment. Short-term trading, options trading/investment and futures trading are potentially extremely risky investment styles. They generally are not appropriate for someone with limited capital, limited investment experience, or a lack of understanding for the necessary risk tolerance involved. I own the European/Scandinavian tickers (not the ADRs) of all European/Scandinavian companies listed in my articles. I own the Canadian tickers of all Canadian stocks I write about. Please note that investing in European/Non-US stocks comes with withholding tax risks specific to the company's domicile as well as your personal situation. Investors should always consult a tax professional as to the overall impact of dividend withholding taxes and ways to mitigate these.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (7)

SleepyInSeattle profile picture
Excellent article and spot on! I started a 1/3 position today @ $74.74 with anothe LBO @ $70.
Andrew Dessy profile picture
Thanks for the insight! Considering a position here, may start nibbling and see if the market decides to bid it down any further. European industry peers still look cheaper on a relative basis, but I prefer the massive buybacks over dividends, plus I'm American so I get charged less fees to hold it vs RANJY.
jimpetroskey profile picture
Are you no longer in Adecco? Not too long ago you wrote a fairly lengthy, well thought out article that it was undervalued. Since it has gone down somewhat from when you wrote it, I'm wondering if your thesis has changed?
Wolf Report profile picture
@jimpetroskey Hey Jim!

Are you sure you're not confusing me with someone else? I absolutely have owned Adecco in the past, but i have never written a specific article on the business here on SA, and I'm out of the investment.

Any idea where you saw it?
jimpetroskey profile picture
@Wolf Report I might be mistaken, so I apologize, but "I thought" you wrote an article roughly a year and a half ago. But, I can't find it!
ndardick profile picture
Solid. I concur.
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