- Barrington Research analyst Kevin Steinke initiated coverage of Hirequest Inc (NASDAQ:HQI) with an Outperform rating and a price target of $29, implying an upside of 68%.
- Steinke notes that the national franchisor of on-demand, temporary, and commercial staffing services has been expanding the range of staffing specialties that franchised offices can provide, while its franchised model results in greater earnings stability and higher margins relative to competitors.
- The analyst expects HireQuest to grow faster than its larger competitors, which should justify a higher valuation.
- Price Action: HQI shares are trading higher by 1.38% at $17.26 on the last check Friday.
