Heidrick & Struggles shares fell Monday afternoon after an analyst downgraded its “overvalued” shares.
The Chicago company was downgraded to “neutral” from “buy,” though the analyst noted that “the longer-term outlook for Heidrick & Struggles and the search companies” remain positive but over the shorter term, “the price of Heidrick & Struggles seems to have run ahead of itself.”
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Heidrick shares fell 7.1% to $24.44 Monday afternoon (whereas shares of Korn/Ferry rose 0.3% to $15). Last Thursday, Heidrick recorded a 10-month stock high at $24.68.