Kforce (NASDAQ:KFRC) Price Target Cut to $71.00 by Analysts at Robert W. Baird

Kforce (NASDAQ:KFRC) had its price objective lowered by Robert W. Baird from $72.00 to $71.00 in a report issued on Tuesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the business services provider’s stock.

A number of other brokerages have also recently weighed in on KFRC. Truist Financial raised their price target on Kforce from $57.00 to $70.00 and gave the company a hold rating in a research report on Thursday, January 25th. StockNews.com downgraded shares of Kforce from a buy rating to a hold rating in a report on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Kforce presently has an average rating of Hold and an average price target of $68.00.

Kforce Trading Down 3.8 %

Shares of KFRC opened at $61.76 on Tuesday. Kforce has a twelve month low of $50.89 and a twelve month high of $74.79. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $1.21 billion, a P/E ratio of 19.73 and a beta of 0.85. The firm’s 50-day moving average is $67.98 and its two-hundred day moving average is $66.50.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings results on Monday, April 29th. The business services provider reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. Kforce had a return on equity of 38.24% and a net margin of 3.99%. The business had revenue of $351.89 million for the quarter, compared to analyst estimates of $354.92 million. During the same quarter in the previous year, the company earned $0.82 EPS. The company’s quarterly revenue was down 13.3% on a year-over-year basis. On average, research analysts predict that Kforce will post 3.02 earnings per share for the current fiscal year.

Kforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.38 dividend. This is an increase from Kforce’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, March 14th. Kforce’s dividend payout ratio is currently 48.56%.

Institutional Trading of Kforce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KFRC. Mariner LLC acquired a new stake in shares of Kforce during the 3rd quarter worth about $7,069,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Kforce by 14.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 732,868 shares of the business services provider’s stock valued at $51,682,000 after buying an additional 93,180 shares during the period. Envestnet Asset Management Inc. grew its stake in Kforce by 97.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 122,694 shares of the business services provider’s stock worth $7,320,000 after acquiring an additional 60,436 shares during the period. Access Investment Management LLC acquired a new position in Kforce in the 4th quarter valued at $3,103,000. Finally, Franklin Resources Inc. lifted its stake in shares of Kforce by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 999,557 shares of the business services provider’s stock worth $67,530,000 after purchasing an additional 40,527 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.

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.