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The Zacks Analyst Blog Highlights: Heidrick & Struggles International, TrueBlue, Robert Half International and ManpowerGroup

For Immediate Release

Chicago, IL – June 10, 2021 – 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: Heidrick & Struggles International, Inc. HSII, TrueBlue, Inc. TBI, Robert Half International Inc. RHI and ManpowerGroup Inc. MAN.

Here are highlights from Wednesday’s Analyst Blog:

4 Stocks Benefiting from Staffing's Strong Recuperation

Staffing service providers have been witnessing a solid run on the bourse for the past year. Substantial surge in manufacturing and service activities, aided by a recovering economy, has fueled the industry's growth.

While hiring rose for IT, e-commerce, logistics and healthcare through the pandemic, the beaten down sectors, such as accommodation, food services, transportation and entertainment, are also gathering steam.

Notably, the Zacks Staffing industry appreciated 60% over the past year compared with the S&P 500 Index's 34.5% rally and 0.8% decline of the broader Zacks Business Services sector.

Economic Recovery, Manufacturing and Service Strength Spurring Recruitment

The staffing industry is a major beneficiary of manufacturing and service activities, which, in turn, are dependent on the economic health. Notably, a steady economic recovery is evident from the latest first-quarter 2021 GDP number, which according to the "second" estimate released by the Bureau of Economic Analysis, increased at an annual rate of 6.4% compared with the 4.3% increase in the fourth quarter of 2020.

Economic activity in the manufacturing sector expanded 0.5% from April to May, as the Manufacturing PMI measured by Institute for Supply Management (ISM) touched 61.2%, clocking the 12th consecutive month of expansion. Non-manufacturing activities clocked 1.3% growth from April to May, as the Services PMI measured by ISM touched the all-time high of 64% and registered the 12th consecutive month of expansion.

Payrolls, Job Openings, Jobless Claims Signaling Strength

Non-farm payroll in May reported by the U.S. Bureau of Labor Statistics (BLS) was up 559,000, with majority of employment generation coming from leisure and hospitality, public and private education, and in health care and social assistance. The unemployment rate shrunk 0.3% to 5.8% and average hourly earnings rose by 15 cents to $30.33.

Per the Labor Department data released on Jun 3, weekly unemployment claims for the week ended May 29 dropped by 20,000 to 385,000, lower than consensus estimate of 391,000. This is the eighth straight week of decline and the lowest since Mar 14, 2020, when the coronavirus crisis just started.

Moreover, just 77,439 applications were filed in the week for jobless claims through the federal relief program, lower than the previous week's 94,999. The figures are inspiring given that the pandemic is yet not over.

On Jun 8, the Labor Department's monthly Job Openings and Labor Turnover Survey (JOLTS) report revealed that job openings jumped 998,000 to a record high of 9.3 million as of Apr 30, the highest in the history of this data series that commenced in December 2000.

Top Picks

Given the backdrop, it would be prudent to invest in staffing stocks that have strong growth potential for 2021. We have selected four such stocks for you.

Heidrick & Struggles International: This executive search and consulting services provider sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.

The company has an expected earnings growth rate of 71.8% for 2021. The Zacks Consensus Estimate for current-year earnings has moved up 38.2% over the last 60 days. The stock has gained 55.4%, year to date.

TrueBlue: This provider of specialized workforce solutions also flaunts a Zacks Rank #1. The company has an expected earnings growth rate of more than 100% for 2021. The Zacks Consensus Estimate for ongoing-year earnings has moved 40.4% north in the last 60 days. The stock has appreciated 53.6%, year to date.

Robert Half International: The staffing and risk consulting services provider carries a Zacks Rank #2 (Buy). The company has an estimated earnings growth rate of 54.1% for the current year. The Zacks Consensus Estimate for 2021 earnings has been revised 22% upward in 60 days' time. The stock has jumped 46.2% year to date.

ManpowerGroup: This workforce solutions and services provider also carries a Zacks Rank #2. The company has a projected earnings growth rate of 70.6% for the current year. The Zacks Consensus Estimate for current-year earnings has moved up 14% over the last 60 days. The stock has appreciated 32.1%, year to date.

Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It's bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is "Will you get into the right stocks early when their growth potential is greatest?"

Zacks has released a Special Report to help you do just that, and today it's free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

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Media Contact

Zacks Investment Research

800-767-3771 ext. 9339

support@zacks.com                       

https://www.zacks.com

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.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
ManpowerGroup Inc. (MAN) : Free Stock Analysis Report
 
Heidrick & Struggles International, Inc. (HSII) : Free Stock Analysis Report
 
Robert Half International Inc. (RHI) : Free Stock Analysis Report
 
TrueBlue, Inc. (TBI) : Free Stock Analysis Report
 
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