Truist Financial Issues Pessimistic Forecast for Kforce (NASDAQ:KFRC) Stock Price

Kforce (NASDAQ:KFRC) had its price objective cut by equities researchers at Truist Financial from $50.00 to $46.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the business services provider’s stock. Truist Financial’s target price indicates a potential upside of 26.21% from the stock’s current price.

Other analysts also recently issued reports about the company. UBS Group upped their price objective on Kforce from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Wall Street Zen downgraded Kforce from a “buy” rating to a “hold” rating in a report on Friday, May 2nd.

Kforce Trading Down 4.9%

Shares of KFRC opened at $36.45 on Tuesday. The stock has a fifty day moving average of $41.96 and a two-hundred day moving average of $46.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.06 and a current ratio of 2.06. The company has a market capitalization of $679.03 million, a PE ratio of 13.60 and a beta of 0.75. Kforce has a fifty-two week low of $35.50 and a fifty-two week high of $71.48.

Kforce (NASDAQ:KFRC) last released its quarterly earnings data on Monday, July 28th. The business services provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $334.32 million for the quarter, compared to analyst estimates of $333.78 million. Kforce had a return on equity of 30.34% and a net margin of 3.59%. The company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 earnings per share. As a group, analysts forecast that Kforce will post 2.7 EPS for the current year.

Insiders Place Their Bets

In other Kforce news, Director David L. Dunkel purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average cost of $37.80 per share, with a total value of $37,800.00. Following the transaction, the director owned 517,329 shares in the company, valued at approximately $19,555,036.20. This trade represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Kforce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KFRC. Marshall Wace LLP purchased a new position in Kforce in the 4th quarter valued at about $6,683,000. Pacer Advisors Inc. purchased a new position in Kforce in the 1st quarter valued at about $5,584,000. Goldman Sachs Group Inc. boosted its position in Kforce by 64.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 251,712 shares of the business services provider’s stock valued at $12,306,000 after buying an additional 99,050 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Kforce in the 4th quarter valued at about $5,146,000. Finally, Wellington Management Group LLP boosted its position in Kforce by 36.3% in the 4th quarter. Wellington Management Group LLP now owns 297,111 shares of the business services provider’s stock valued at $16,846,000 after buying an additional 79,100 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

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.