BidaskClub Lowers Kforce (KFRC) to Hold

Kforce (NASDAQ:KFRC) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird restated a “buy” rating and issued a $45.00 price target on shares of Kforce in a research note on Thursday, August 2nd. Zacks Investment Research upgraded shares of Kforce from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Saturday, August 4th. SunTrust Banks boosted their price target on shares of Kforce to $44.00 and gave the stock a “hold” rating in a research note on Thursday, August 2nd. Credit Suisse Group started coverage on shares of Kforce in a research note on Friday, August 10th. They issued a “neutral” rating and a $38.00 price target for the company. Finally, Northcoast Research downgraded shares of Kforce from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a research note on Friday, June 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $41.40.

NASDAQ:KFRC opened at $37.85 on Tuesday. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 24.11 and a beta of 1.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.77 and a quick ratio of 2.77. Kforce has a 52 week low of $17.56 and a 52 week high of $43.51.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The business had revenue of $358.62 million during the quarter, compared to the consensus estimate of $358.07 million. Kforce had a net margin of 3.00% and a return on equity of 34.52%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 earnings per share. sell-side analysts anticipate that Kforce will post 2.25 earnings per share for the current fiscal year.

In related news, Director Ralph Struzziero sold 3,000 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $39.55, for a total transaction of $118,650.00. Following the completion of the transaction, the director now owns 41,535 shares in the company, valued at $1,642,709.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Jeffrey B. Hackman sold 1,000 shares of the business’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $38.00, for a total transaction of $38,000.00. Following the transaction, the senior vice president now owns 40,858 shares of the company’s stock, valued at approximately $1,552,604. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,991 shares of company stock valued at $3,881,661. Insiders own 12.50% of the company’s stock.

Several hedge funds have recently modified their holdings of KFRC. BlackRock Inc. grew its stake in shares of Kforce by 29.4% during the second quarter. BlackRock Inc. now owns 2,070,717 shares of the business services provider’s stock worth $71,027,000 after purchasing an additional 471,012 shares in the last quarter. Hancock Holding Co. acquired a new position in shares of Kforce during the first quarter worth $7,529,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Kforce during the second quarter worth $6,867,000. Acadian Asset Management LLC grew its stake in shares of Kforce by 80.2% during the second quarter. Acadian Asset Management LLC now owns 352,976 shares of the business services provider’s stock worth $12,106,000 after purchasing an additional 157,123 shares in the last quarter. Finally, Royce & Associates LP grew its stake in shares of Kforce by 32.4% during the second quarter. Royce & Associates LP now owns 637,636 shares of the business services provider’s stock worth $21,871,000 after purchasing an additional 156,117 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Kforce Company Profile

Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.

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