Quest Resource (QRHC) Receives Buy Rating from HC Wainwright

Quest Resource (NASDAQ:QRHC)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued to investors on Thursday, AnalystRatings.com reports. They currently have a $4.00 price target on the business services provider’s stock. HC Wainwright’s target price indicates a potential upside of 63.27% from the company’s current price.

The analysts wrote, “We expect to generate $117.7M in 2019 revenues, and are projecting these to reach $254.8M in 2025, growing at a six-year CAGR of 13.7%. We expect SG&A expenses to grow modestly from $18.0M in 2019 to $23.3M in 2025, growing at a six-year CAGR of 4.4%.””

Separately, Roth Capital reaffirmed a “buy” rating on shares of Quest Resource in a research note on Monday, April 15th.

Shares of QRHC opened at $2.45 on Thursday. Quest Resource has a 52-week low of $1.26 and a 52-week high of $3.10. The firm has a market capitalization of $37.59 million, a price-to-earnings ratio of -20.42, a P/E/G ratio of 9.42 and a beta of 2.18. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.25 and a quick ratio of 1.25.

Quest Resource (NASDAQ:QRHC) last issued its earnings results on Wednesday, May 15th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Quest Resource had a negative return on equity of 1.13% and a negative net margin of 1.22%. The business had revenue of $26.65 million during the quarter, compared to the consensus estimate of $26.49 million. On average, sell-side analysts forecast that Quest Resource will post 0.01 EPS for the current fiscal year.

In other Quest Resource news, Director Jeffrey D. Forte sold 500,000 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $1.50, for a total value of $750,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mitchell A. Saltz sold 3,700,000 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $1.74, for a total value of $6,438,000.00. The disclosure for this sale can be found here. 48.06% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of QRHC. Deutsche Bank AG increased its position in shares of Quest Resource by 124.3% during the 4th quarter. Deutsche Bank AG now owns 20,185 shares of the business services provider’s stock worth $27,000 after purchasing an additional 11,185 shares during the last quarter. Essex Investment Management Co. LLC increased its position in shares of Quest Resource by 120.5% during the 4th quarter. Essex Investment Management Co. LLC now owns 131,453 shares of the business services provider’s stock worth $179,000 after purchasing an additional 71,835 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Quest Resource by 18.8% during the 3rd quarter. Renaissance Technologies LLC now owns 226,370 shares of the business services provider’s stock worth $580,000 after purchasing an additional 35,760 shares during the last quarter. 14.00% of the stock is owned by institutional investors and hedge funds.

Quest Resource Company Profile

Quest Resource Holding Corporation, through its subsidiaries, provides solutions for the reuse, recycle, and dispose various waste streams and recyclables in the United States. The company offers recycling and waste management services for motor oil, oil filters, scrap tires, grease and cooking oil, food waste, and expired food products; and various other materials, such as glass, cardboard, paper, and metal, as well as hazardous materials, plastics, construction debris, batteries, mercury, lights, regulated waste, electronic devices, and industrial cleaning products.

Further Reading: Mutual Funds

Receive News & Ratings for Quest Resource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Resource and related companies with MarketBeat.com's FREE daily email newsletter.