StockNews.com Downgrades Kforce (NASDAQ:KFRC) to Hold

StockNews.com cut shares of Kforce (NASDAQ:KFRC) from a buy rating to a hold rating in a research report released on Friday morning.

KFRC has been the topic of a number of other reports. Sidoti raised Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Tuesday, October 15th. Truist Financial decreased their price target on Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a research note on Tuesday, October 29th.

Kforce Stock Performance

KFRC opened at $60.52 on Friday. The stock’s 50 day simple moving average is $58.59 and its 200-day simple moving average is $61.79. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.15 billion, a PE ratio of 20.71 and a beta of 0.88. Kforce has a 1 year low of $52.96 and a 1 year high of $74.79.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.06. The firm had revenue of $353.30 million for the quarter, compared to analyst estimates of $352.19 million. Kforce had a net margin of 3.86% and a return on equity of 33.50%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. Sell-side analysts forecast that Kforce will post 2.68 EPS for the current 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 issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Friday, December 6th. Kforce’s payout ratio is 52.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. TD Private Client Wealth LLC increased its holdings in Kforce by 58.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 496 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 182 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Kforce by 4.0% in the third quarter. Geode Capital Management LLC now owns 480,479 shares of the business services provider’s stock valued at $29,530,000 after buying an additional 18,386 shares during the last quarter. Vestcor Inc raised its holdings in shares of Kforce by 139.1% in the third quarter. Vestcor Inc now owns 5,596 shares of the business services provider’s stock valued at $344,000 after buying an additional 3,256 shares during the last quarter. Barclays PLC lifted its position in Kforce by 171.9% during the 3rd quarter. Barclays PLC now owns 42,166 shares of the business services provider’s stock worth $2,591,000 after buying an additional 26,657 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in Kforce by 210.4% during the 3rd quarter. Jane Street Group LLC now owns 53,255 shares of the business services provider’s stock worth $3,273,000 after acquiring an additional 36,098 shares during the last quarter. 92.77% of the stock is owned by institutional investors and hedge funds.

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.