Quest Resource (NASDAQ:QRHC) Upgraded to Strong-Buy at Northland Capmk

Quest Resource (NASDAQ:QRHC) was upgraded by equities researchers at Northland Capmk to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks.com reports.

A number of other equities analysts have also recently commented on QRHC. Craig Hallum cut their price target on shares of Quest Resource from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, August 9th. StockNews.com upgraded Quest Resource from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Finally, Northland Securities started coverage on Quest Resource in a report on Tuesday. They set an “outperform” rating and a $12.50 price objective on the stock.

Quest Resource Stock Up 1.2 %

Shares of NASDAQ QRHC opened at $8.78 on Tuesday. The business has a 50-day simple moving average of $8.49 and a two-hundred day simple moving average of $8.68. Quest Resource has a 52 week low of $6.01 and a 52 week high of $10.85. The company has a market cap of $177.84 million, a P/E ratio of -31.36, a P/E/G ratio of 2.05 and a beta of 0.65. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 1.08.

Quest Resource (NASDAQ:QRHC) last released its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). Quest Resource had a negative net margin of 2.29% and a positive return on equity of 5.61%. The firm had revenue of $73.15 million for the quarter, compared to analysts’ expectations of $76.50 million. Research analysts anticipate that Quest Resource will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In related news, COO David P. Sweitzer sold 16,047 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $8.52, for a total transaction of $136,720.44. Following the transaction, the chief operating officer now directly owns 8,511 shares in the company, valued at approximately $72,513.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO David P. Sweitzer sold 16,047 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $8.52, for a total transaction of $136,720.44. Following the completion of the sale, the chief operating officer now directly owns 8,511 shares in the company, valued at approximately $72,513.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO David P. Sweitzer sold 22,593 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $8.00, for a total transaction of $180,744.00. Following the completion of the sale, the chief operating officer now directly owns 8,511 shares in the company, valued at approximately $68,088. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,481 shares of company stock valued at $484,129. 22.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Quest Resource

Several hedge funds have recently made changes to their positions in QRHC. Ashton Thomas Private Wealth LLC bought a new stake in Quest Resource in the second quarter valued at $34,000. Rhumbline Advisers purchased a new stake in shares of Quest Resource in the 2nd quarter worth about $145,000. Russell Investments Group Ltd. lifted its position in shares of Quest Resource by 453.5% in the 1st quarter. Russell Investments Group Ltd. now owns 18,448 shares of the business services provider’s stock worth $158,000 after purchasing an additional 15,115 shares during the period. Privium Fund Management B.V. increased its position in shares of Quest Resource by 72.6% during the second quarter. Privium Fund Management B.V. now owns 18,900 shares of the business services provider’s stock valued at $168,000 after buying an additional 7,950 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Quest Resource in the second quarter worth about $406,000. 48.16% of the stock is owned by hedge funds and other institutional investors.

Quest Resource Company Profile

Quest Resource Holding Corporation, together with its subsidiaries, provides solutions for the reuse, recycling, and disposal of various waste streams and recyclables in the United States. The company provides disposal and recycling services for motor oil and automotive lubricants, oil filters, scrap tires, oily water, goods destruction, food waste, meat renderings, cooking oil and grease trap waste, plastics, cardboard, metal, glass, mixed paper, construction debris, as well as a large variety of regulated and non-regulated solid, liquid, and gas wastes.