Adecco (OTCMKTS:AHEXY) Shares Gap Up – Here’s What Happened

Adecco SA (OTCMKTS:AHEXY) gapped up prior to trading on Wednesday . The stock had previously closed at $14.66, but opened at $15.13. Adecco shares last traded at $15.13, with a volume of 846 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AHEXY shares. Zacks Research upgraded shares of Adecco from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Morgan Stanley restated an “underweight” rating on shares of Adecco in a research note on Monday, August 10th. BNP Paribas Exane raised shares of Adecco from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. UBS Group downgraded shares of Adecco from a “hold” rating to a “sell” rating in a research note on Monday, May 18th. Finally, Citigroup cut Adecco from a “strong-buy” rating to a “neutral” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Adecco Trading Down 0.5%

The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.73. The stock’s 50 day moving average is $12.49 and its two-hundred day moving average is $12.01. The company has a market capitalization of $5.19 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 1.27 and a beta of 0.94.

Adecco (OTCMKTS:AHEXY) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. Adecco had a net margin of 1.25% and a return on equity of 12.78%. The business had revenue of $6.93 billion during the quarter, compared to analyst estimates of $6.83 billion. As a group, sell-side analysts predict that Adecco SA will post 1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Adecco

A hedge fund recently bought a new stake in Adecco stock. Public Employees Retirement System of Ohio bought a new position in shares of Adecco SA (OTCMKTS:AHEXY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 488,940 shares of the business services provider’s stock, valued at approximately $7,354,000. Public Employees Retirement System of Ohio owned 0.14% of Adecco as of its most recent SEC filing.

Adecco Company Profile

Adecco Group AG is a global human resources and workforce solutions provider headquartered in Zurich, Switzerland. The company specializes in temporary staffing, permanent placement, career transition, and talent development services. Its core business activities include matching job seekers with client companies, managing contingent workforce solutions, and offering consulting services related to workforce management and organizational effectiveness.

Founded in 1996 through the merger of the Swiss companies Adia Interim and ECCO, Adecco has grown into one of the world’s largest staffing firms.