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The Zacks Analyst Blog Highlights Cross Country Healthcare, HireQuest, Heidrick & Struggles, KornFerry and TrueBlue
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For Immediate Release
Chicago, IL – February 6, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Cross Country Healthcare (CCRN - Free Report) , HireQuest (HQI - Free Report) , Heidrick & Struggles International (HSII - Free Report) , KornFerry International (KFY - Free Report) and TrueBlue (TBI - Free Report) .
Here are highlights from Monday’s Analyst Blog:
5 Staffing Stocks to Gain as Labor Market Remains Hot
Interpreting labor market data at the beginning of each year is problematic. This is because many temporary workers are hired to meet the huge demand during the holiday shopping season, and once the demand wanes, companies declare job cuts.
Nonetheless, January’s labor report indicates that hiring remained healthy despite elevated interest rates, and the economy is insulated from an impending recession.
The Bureau of Labor Statistics stated that nonfarm payrolls increased by 353,000 in January, way more than estimates of payrolls increasing by 185,000. Job additions, thus, remained well above the 100,000 job additions per month, which signifies steady hiring across all working-age populations.
Interestingly, both December and November’s employment gains were revised higher. December’s job gains were 333,000, or 117,000 more than the initial estimate. Similarly, November’s job gains were 182,000, or 9,000 higher than the earlier estimate.
Job additions, in reality, were broad-based in January. The employment gains were predominantly led by professional businesses, healthcare, and retailers.Professional and business services saw an increase in employment by 74,000.
Meanwhile, 70,000 jobs were added in healthcare. Retail trade employment rose by 45,000. Additionally, the government, social assistance and manufacturing sectors contributed 36,000, 30,000 and 23,000 new jobs, respectively.
What’s more, the unemployment rate remained at 3.7% last month, less than the estimate of 3.8%. The jobless rate continues to remain well below the long-term average of 5.7%, a tell-tale sign that hiring remains robust.
Job additions are very well expected to pick up in the first half of this year since the Conference Board’s Employment Trends Index increased to 113.15 in December from a downwardly revised 112.48 in November. Moreover, if the Federal Reserve trims interest rates this year as widely expected, the economy will get the wherewithal to stoke more hiring.
Thus, with things looking promising for the labor market, and the indicator of job prospects firming, it’s prudent for investors to keep an eye on staffing companies like Cross Country Healthcare, HireQuest, Heidrick & Struggles International, KornFerry International and TrueBlue that can take advantage of the solid employment scenario.
Cross Country Healthcare is a national leader in providing innovative healthcare workforce solutions and staffing services. CCRN’s expected earnings growth rate for the next five-year period is 10%. CCRN, currently, has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
HireQuest provides temporary staffing services, which include general labor, industrial and construction personnel. HQI’s expected earnings growth rate for next year is 118.2%. HQI, currently, has a Zacks Rank #3.
Heidrick & Struggles International is one of the leading global executive search firms. HSII’s expected earnings growth rate for next year is 5.2%. HSII, currently, has a Zacks Rank #3.
KornFerry International is the world's leading and largest executive recruitment firm. KFY’s expected earnings growth rate for next year is 8.9%. KFY, currently, has a Zacks Rank #2 (Buy).
TrueBlue is a leading provider of specialized workforce solutions. TBI’s expected earnings growth rate for next year is 325%. TBI, currently, has a Zacks Rank #3.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Cross Country Healthcare, HireQuest, Heidrick & Struggles, KornFerry and TrueBlue
For Immediate Release
Chicago, IL – February 6, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Cross Country Healthcare (CCRN - Free Report) , HireQuest (HQI - Free Report) , Heidrick & Struggles International (HSII - Free Report) , KornFerry International (KFY - Free Report) and TrueBlue (TBI - Free Report) .
Here are highlights from Monday’s Analyst Blog:
5 Staffing Stocks to Gain as Labor Market Remains Hot
Interpreting labor market data at the beginning of each year is problematic. This is because many temporary workers are hired to meet the huge demand during the holiday shopping season, and once the demand wanes, companies declare job cuts.
Nonetheless, January’s labor report indicates that hiring remained healthy despite elevated interest rates, and the economy is insulated from an impending recession.
The Bureau of Labor Statistics stated that nonfarm payrolls increased by 353,000 in January, way more than estimates of payrolls increasing by 185,000. Job additions, thus, remained well above the 100,000 job additions per month, which signifies steady hiring across all working-age populations.
Interestingly, both December and November’s employment gains were revised higher. December’s job gains were 333,000, or 117,000 more than the initial estimate. Similarly, November’s job gains were 182,000, or 9,000 higher than the earlier estimate.
Job additions, in reality, were broad-based in January. The employment gains were predominantly led by professional businesses, healthcare, and retailers.Professional and business services saw an increase in employment by 74,000.
Meanwhile, 70,000 jobs were added in healthcare. Retail trade employment rose by 45,000. Additionally, the government, social assistance and manufacturing sectors contributed 36,000, 30,000 and 23,000 new jobs, respectively.
What’s more, the unemployment rate remained at 3.7% last month, less than the estimate of 3.8%. The jobless rate continues to remain well below the long-term average of 5.7%, a tell-tale sign that hiring remains robust.
Job additions are very well expected to pick up in the first half of this year since the Conference Board’s Employment Trends Index increased to 113.15 in December from a downwardly revised 112.48 in November. Moreover, if the Federal Reserve trims interest rates this year as widely expected, the economy will get the wherewithal to stoke more hiring.
Thus, with things looking promising for the labor market, and the indicator of job prospects firming, it’s prudent for investors to keep an eye on staffing companies like Cross Country Healthcare, HireQuest, Heidrick & Struggles International, KornFerry International and TrueBlue that can take advantage of the solid employment scenario.
Cross Country Healthcare is a national leader in providing innovative healthcare workforce solutions and staffing services. CCRN’s expected earnings growth rate for the next five-year period is 10%. CCRN, currently, has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
HireQuest provides temporary staffing services, which include general labor, industrial and construction personnel. HQI’s expected earnings growth rate for next year is 118.2%. HQI, currently, has a Zacks Rank #3.
Heidrick & Struggles International is one of the leading global executive search firms. HSII’s expected earnings growth rate for next year is 5.2%. HSII, currently, has a Zacks Rank #3.
KornFerry International is the world's leading and largest executive recruitment firm. KFY’s expected earnings growth rate for next year is 8.9%. KFY, currently, has a Zacks Rank #2 (Buy).
TrueBlue is a leading provider of specialized workforce solutions. TBI’s expected earnings growth rate for next year is 325%. TBI, currently, has a Zacks Rank #3.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.