Zacks: Brokerages Set $3.75 Price Target for Quest Resource Holding Corp (NASDAQ:QRHC)

Quest Resource Holding Corp (NASDAQ:QRHC) has earned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Brokers have set a one year consensus price objective of $3.75 for the company and are predicting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also assigned Quest Resource an industry rank of 199 out of 256 based on the ratings given to its competitors.

A number of brokerages recently issued reports on QRHC. HC Wainwright reissued a “buy” rating and issued a $4.00 price objective on shares of Quest Resource in a research note on Thursday, May 16th. Roth Capital reissued a “buy” rating on shares of Quest Resource in a research note on Monday, April 15th.

Shares of QRHC traded up $0.09 during mid-day trading on Friday, hitting $2.74. 14,294 shares of the company’s stock were exchanged, compared to its average volume of 16,808. Quest Resource has a 52 week low of $1.26 and a 52 week high of $3.10. The stock has a 50-day moving average of $2.62. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.09.

Quest Resource (NASDAQ:QRHC) last announced its quarterly earnings data on Wednesday, May 15th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $26.65 million for the quarter, compared to analysts’ expectations of $26.49 million. Quest Resource had a negative net margin of 1.22% and a negative return on equity of 1.13%. Equities research analysts predict that Quest Resource will post 0.01 earnings per share for the current fiscal year.

In other Quest Resource news, insider Mitchell A. Saltz sold 3,700,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $1.74, for a total value of $6,438,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey D. Forte sold 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $1.50, for a total transaction of $750,000.00. The disclosure for this sale can be found here. Company insiders own 20.19% of the company’s stock.

An institutional investor recently raised its position in Quest Resource stock. Deutsche Bank AG lifted its holdings in shares of Quest Resource Holding Corp (NASDAQ:QRHC) by 124.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,185 shares of the business services provider’s stock after purchasing an additional 11,185 shares during the period. Deutsche Bank AG owned 0.13% of Quest Resource worth $27,000 as of its most recent filing with the SEC. 13.98% of the stock is currently owned by institutional investors.

About Quest Resource

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.

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