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Can the Rally in Robert Half International Stock Continue?

Stock MarketsJun 04, 2021 12:31PM ET
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© Reuters. Can the Rally in Robert Half International Stock Continue?

The shares of staffing services company Robert Half International (RHI) have rallied 44.2% year-to-date on increasing demand for staffing and advisory services amid a strong economic recovery. Indeed, the high demand for temporary and part-time staffing due to disrupted business operations helped the company grow last year also. Because the economy is now gradually returning to its pre-pandemic strength, we think RHI should see a substantial gain in its financials and profitability. So, read on.Human resource consulting firm Robert Half International Inc. (NYSE:RHI) operates through temporary and consultant staffing, permanent placement staffing, and risk consulting and internal audit services segments in the United States, Europe, Asia, and Australia. The stock has gained 63.5% over the past year, driven by high demand for temporary and part-time staffing because many businesses have not been able to afford full-time employees due to pandemic-related business disruptions.

RHI’s wholly owned subsidiary, Protiviti, has witnessed double-digit year-over-year revenue growth. In fact, last month it ranked first on Forbes' annual list of America's Best Professional Recruiting Firms and America's Best Temporary Staffing Firms.

The stock is trading just 1.3% below its $91.28 all-time high, which it hit on May 10. Given its solid earnings growth outlook, we believe it is poised to maintain its rally. Here is what we think could shape RHI’s performance in the near term:

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Can the Rally in Robert Half International Stock Continue?
 

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