Robert Half International (NYSE:RHI) hit a 52-week low on June 23, falling ~7% after Bank of America Global Research double downgraded the stock to Underperform from Buy and cut the price target to $67 from $133.
The SA Quant Rating on the stock is Hold, which takes in to accounts factors such as Profitability and Growth, among other things. The average Wall Street Analysts' Rating on the stock is also Hold, wherein 4 out of 13 analysts give it a Hold rating while, 4 have a Sell rating.
Bofa Analyst Heather Balsky noted that California-based staffing company's fundamentals have peaked.
Balsky said that even though the labor market was still tight and labor data was strong, the firm believes that demand and labor market has peaked and anticipates that the Federal Reserve's actions on interest rates could limit the company's staffing revenue growth.
YTD, Robert Half has declined ~32%. The chart below shows YTD price-return performance of RHI and its peers ManpowerGroup, TriNet and Korn Ferry against SP500TR: