Kforce (NASDAQ:KFRC) Price Target Cut to $58.00 by Analysts at Truist Financial

Kforce (NASDAQ:KFRC) had its price target cut by Truist Financial from $68.00 to $58.00 in a research report released on Tuesday, Benzinga reports. They currently have a hold rating on the business services provider’s stock.

A number of other equities analysts also recently issued reports on KFRC. Sidoti raised Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Tuesday, October 15th. StockNews.com raised Kforce from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $65.75.

Kforce Trading Down 3.4 %

KFRC opened at $55.85 on Tuesday. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 19.26 and a beta of 0.87. Kforce has a 12 month low of $52.96 and a 12 month high of $74.79. The stock has a fifty day moving average price of $60.11 and a 200-day moving average price of $62.30.

Kforce (NASDAQ:KFRC) last announced its earnings results on Monday, October 28th. The business services provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. Kforce had a net margin of 3.86% and a return on equity of 33.70%. The business had revenue of $353.30 million during the quarter, compared to the consensus estimate of $352.19 million. During the same period in the previous year, the company posted $0.90 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts anticipate that Kforce will post 2.68 earnings per share for the current fiscal year.

Kforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, December 6th. Kforce’s payout ratio is 52.41%.

Institutional Investors Weigh In On Kforce

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. raised its position in Kforce by 59.9% during the 2nd quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock worth $27,000 after buying an additional 160 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of Kforce during the third quarter worth $30,000. nVerses Capital LLC raised its holdings in shares of Kforce by 50.0% during the second quarter. nVerses Capital LLC now owns 900 shares of the business services provider’s stock worth $56,000 after purchasing an additional 300 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Kforce during the second quarter valued at $68,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Kforce by 96.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,313 shares of the business services provider’s stock valued at $82,000 after purchasing an additional 643 shares during the last quarter. Institutional investors and hedge funds own 92.77% of the company’s stock.

Kforce Company Profile

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.