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

Quest Resource (NASDAQ:QRHC) was upgraded by Northland Capmk to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports.

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

Quest Resource Stock Performance

Shares of QRHC opened at $8.78 on Tuesday. The firm has a market capitalization of $177.84 million, a PE 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. The firm has a 50-day moving average price of $8.49 and a 200 day moving average price of $8.68. Quest Resource has a 52-week low of $6.01 and a 52-week high of $10.85.

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

Insider Buying and Selling at Quest Resource

In other news, COO David P. Sweitzer sold 22,593 shares of the company’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 of the company’s stock, valued at $68,088. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO David P. Sweitzer sold 22,593 shares of Quest Resource 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 transaction, the chief operating officer now directly owns 8,511 shares of the company’s stock, valued at $68,088. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO David P. Sweitzer sold 16,047 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 8,511 shares in the company, valued at approximately $72,513.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,481 shares of company stock valued at $484,129. Corporate insiders own 22.84% of the company’s stock.

Institutional Trading of Quest Resource

Hedge funds and other institutional investors have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC purchased a new stake in Quest Resource in the 2nd quarter worth about $34,000. Rhumbline Advisers acquired a new stake in shares of Quest Resource during the second quarter worth approximately $145,000. Russell Investments Group Ltd. increased its stake 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 buying an additional 15,115 shares during the period. Privium Fund Management B.V. lifted its position in 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 worth $168,000 after buying an additional 7,950 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Quest Resource during the 2nd quarter valued at $406,000. Institutional investors and hedge funds own 48.16% of the company’s stock.

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.