Quest Resource (NASDAQ:QRHC) Upgraded by Northland Capmk to “Strong-Buy”

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

Several other brokerages also recently commented on QRHC. Craig Hallum lowered 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. Northland Securities began coverage on shares of Quest Resource in a research note on Tuesday. They issued an “outperform” rating and a $12.50 price objective for the company. Finally, StockNews.com raised shares of Quest Resource from a “sell” rating to a “hold” rating in a research note on Friday, September 6th.

Quest Resource Stock Performance

Shares of NASDAQ:QRHC opened at $8.78 on Tuesday. 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 has a 12-month low of $6.01 and a 12-month high of $10.85. The company’s 50 day moving average price is $8.49 and its two-hundred day moving average price is $8.68. The firm has a market cap of $177.84 million, a PE ratio of -31.36, a PEG ratio of 2.05 and a beta of 0.65.

Quest Resource (NASDAQ:QRHC) last released its earnings results on Thursday, August 8th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $76.50 million. Equities research analysts predict that Quest Resource will post 0.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO David P. Sweitzer sold 16,047 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $8.52, for a total value of $136,720.44. Following the transaction, the chief operating officer now directly owns 8,511 shares of the company’s stock, valued at approximately $72,513.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO David P. Sweitzer sold 16,047 shares of Quest Resource stock in a transaction on Friday, June 21st. The shares were sold at an average price of $8.52, for a total value of $136,720.44. Following the completion of the sale, the chief operating officer now 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 accessible through this hyperlink. Also, 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 transaction of $180,744.00. Following the transaction, the chief operating officer now owns 8,511 shares in the company, valued at approximately $68,088. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,481 shares of company stock worth $484,129. Company insiders own 22.84% of the company’s stock.

Institutional Trading of Quest Resource

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC bought a new position in shares of Quest Resource during the 2nd quarter worth approximately $34,000. Rhumbline Advisers purchased a new position in Quest Resource in the second quarter worth $145,000. Russell Investments Group Ltd. grew 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 purchasing an additional 15,115 shares during the period. Privium Fund Management B.V. raised its stake 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 valued at $168,000 after acquiring an additional 7,950 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Quest Resource during the second quarter valued at about $406,000. 48.16% of the stock is owned by 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.