Quest Resource Holding Corp (NASDAQ:QRHC) Expected to Announce Quarterly Sales of $29.78 Million

Wall Street analysts expect Quest Resource Holding Corp (NASDAQ:QRHC) to announce $29.78 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Quest Resource’s earnings, with estimates ranging from $29.40 million to $30.17 million. Quest Resource posted sales of $25.92 million in the same quarter last year, which suggests a positive year-over-year growth rate of 14.9%. The firm is expected to issue its next quarterly earnings results on Tuesday, November 12th.

According to Zacks, analysts expect that Quest Resource will report full year sales of $116.46 million for the current financial year, with estimates ranging from $115.20 million to $117.72 million. For the next financial year, analysts expect that the business will post sales of $136.83 million, with estimates ranging from $132.00 million to $141.66 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Quest Resource.

QRHC has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $4.00 price target on shares of Quest Resource in a research note on Thursday, May 16th. ValuEngine cut shares of Quest Resource from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.

Shares of Quest Resource stock traded up $0.02 during mid-day trading on Friday, hitting $2.50. The stock had a trading volume of 56,253 shares, compared to its average volume of 20,053. The firm has a 50-day moving average of $2.50 and a two-hundred day moving average of $2.13. Quest Resource has a 12-month low of $1.26 and a 12-month high of $3.10. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.09. The firm has a market cap of $32.70 million, a P/E ratio of -21.25, a price-to-earnings-growth ratio of 28.40 and a beta of 1.47.

Several institutional investors have recently bought and sold shares of the company. Deutsche Bank AG boosted its position in shares of Quest Resource by 124.3% during the 4th quarter. Deutsche Bank AG now owns 20,185 shares of the business services provider’s stock worth $27,000 after purchasing an additional 11,185 shares during the period. Vanguard Group Inc. purchased a new position in shares of Quest Resource during the 2nd quarter worth approximately $38,000. Connors Investor Services Inc. purchased a new position in shares of Quest Resource during the 2nd quarter worth approximately $346,000. First Wilshire Securities Management Inc. purchased a new position in shares of Quest Resource during the 2nd quarter worth approximately $554,000. Finally, Essex Investment Management Co. LLC boosted its position in shares of Quest Resource by 72.8% during the 2nd quarter. Essex Investment Management Co. LLC now owns 248,538 shares of the business services provider’s stock worth $688,000 after purchasing an additional 104,743 shares during the period. 16.79% of the stock is owned by institutional investors and hedge funds.

Quest Resource Company Profile

Quest Resource Holding Corporation, through its subsidiaries, provides solutions for the reuse, recycle, and dispose various waste streams and recyclables in the United States. The company offers recycling and waste management services for motor oil, oil filters, scrap tires, grease and cooking oil, food waste, and expired food products; and various other materials, such as glass, cardboard, paper, and metal, as well as hazardous materials, plastics, construction debris, batteries, mercury, lights, regulated waste, electronic devices, and industrial cleaning products.

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