Truist Financial Lowers Kforce (NASDAQ:KFRC) Price Target to $58.00

Kforce (NASDAQ:KFRC) had its target price reduced by Truist Financial from $68.00 to $58.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the business services provider’s stock. Truist Financial’s price target points to a potential downside of 1.38% from the stock’s previous close.

A number of other equities analysts have also weighed in on KFRC. StockNews.com upgraded shares of Kforce from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Sidoti upgraded shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $65.75.

Kforce Stock Performance

Shares of KFRC opened at $58.81 on Tuesday. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average price is $60.36 and its 200-day moving average price is $62.36. Kforce has a 52 week low of $52.96 and a 52 week high of $74.79. The stock has a market cap of $1.14 billion, a P/E ratio of 21.86 and a beta of 0.87.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. Kforce had a net margin of 3.56% and a return on equity of 34.89%. The company had revenue of $353.30 million during the quarter, compared to analyst estimates of $352.19 million. During the same period in the previous year, the business earned $0.90 EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. Equities research analysts anticipate that Kforce will post 2.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kforce

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in Kforce during the 2nd quarter valued at $718,000. Sei Investments Co. increased its stake in shares of Kforce by 36.1% in the 1st quarter. Sei Investments Co. now owns 45,459 shares of the business services provider’s stock worth $3,207,000 after purchasing an additional 12,050 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Kforce by 3.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 756,788 shares of the business services provider’s stock worth $47,020,000 after purchasing an additional 23,920 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Kforce by 0.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,402,035 shares of the business services provider’s stock worth $149,238,000 after purchasing an additional 13,706 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Kforce in the 2nd quarter worth $1,488,000. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

About Kforce

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.