Quest Resource (NASDAQ:QRHC) Earns Outperform Rating from Analysts at Northland Securities

Northland Securities assumed coverage on shares of Quest Resource (NASDAQ:QRHC) in a research note published on Tuesday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $12.50 price objective on the business services provider’s stock.

Several other equities analysts also recently issued reports on QRHC. Craig Hallum decreased their price objective 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 raised Quest Resource from a sell rating to a hold rating in a report on Friday, September 6th.

Quest Resource Price Performance

QRHC stock opened at $8.96 on Tuesday. The business has a 50 day moving average price of $8.50 and a 200 day moving average price of $8.68. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 1.08. The stock has a market cap of $181.48 million, a price-to-earnings ratio of -32.00, a PEG ratio of 2.05 and a beta of 0.65. Quest Resource has a fifty-two week low of $6.01 and a fifty-two week high of $10.85.

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

Insider Activity at Quest Resource

In other news, COO David P. Sweitzer sold 22,593 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $8.00, for a total value of $180,744.00. Following the completion of the sale, the chief operating officer now directly owns 8,511 shares of the company’s stock, valued at $68,088. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Quest Resource news, COO David P. Sweitzer sold 19,841 shares of Quest Resource stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $8.40, for a total value of $166,664.40. Following the transaction, the chief operating officer now directly owns 8,511 shares in the company, valued at approximately $71,492.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David P. Sweitzer sold 22,593 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $8.00, for a total value of $180,744.00. Following the completion of the transaction, 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. 22.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Quest Resource

Several institutional investors have recently bought and sold shares of QRHC. North Star Investment Management Corp. purchased a new stake in shares of Quest Resource in the first quarter valued at about $1,287,000. Russell Investments Group Ltd. boosted its holdings in 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 valued at $158,000 after purchasing an additional 15,115 shares in the last quarter. First Eagle Investment Management LLC increased its position in Quest Resource by 2.7% during the 1st quarter. First Eagle Investment Management LLC now owns 356,398 shares of the business services provider’s stock worth $3,058,000 after purchasing an additional 9,490 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Quest Resource during the 2nd quarter worth approximately $406,000. Finally, Privium Fund Management B.V. lifted its holdings in shares of Quest Resource by 72.6% in the 2nd 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. 48.16% of the stock is owned by institutional investors and hedge funds.

About Quest Resource

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.