HireQuest price target lowered to $16 from $18 at Barrington

Barrington analyst Kevin Steinke lowered the firm’s price target on HireQuest (HQI) to $16 from $18 and keeps an Outperform rating on the shares. The company’s Q4 results reflect challenging market conditions and macro uncertainty, the analyst tells investors in a research note. The firm says HireQuest noted that softer sales trends in Q4 were reflective of the challenging environment that has impacted the staffing industry over the last two years. Barrington reduced estimates citing continued volatility and uncertainty in the demand environment.