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

Kforce (NASDAQ:KFRC) had its price objective decreased by Truist Financial from $68.00 to $58.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Truist Financial currently has a hold rating on the business services provider’s stock.

A number of other research firms have also weighed in on KFRC. Sidoti raised shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Tuesday, October 15th. StockNews.com raised Kforce from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Kforce has an average rating of “Hold” and an average target price of $65.75.

Kforce Stock Down 3.4 %

NASDAQ KFRC opened at $55.85 on Tuesday. The business has a fifty day moving average price of $60.11 and a 200 day moving average price of $62.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.33 and a current ratio of 2.33. The company has a market cap of $1.08 billion, a P/E ratio of 19.26 and a beta of 0.87. Kforce has a one year low of $52.96 and a one year high of $74.79.

Kforce (NASDAQ:KFRC) last released its earnings results on Monday, October 28th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The business had revenue of $353.30 million during the quarter, compared to analyst estimates of $352.19 million. Kforce had a net margin of 3.86% and a return on equity of 33.70%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 earnings per share. Research analysts anticipate that Kforce will post 2.68 EPS for the current fiscal year.

Kforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Friday, December 6th. Kforce’s dividend payout ratio is currently 52.41%.

Institutional Investors Weigh In On Kforce

A number of hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its position in shares of Kforce by 59.9% during the second quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock worth $27,000 after acquiring an additional 160 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in Kforce in the 3rd quarter valued at about $30,000. nVerses Capital LLC boosted its stake in shares of Kforce by 50.0% in the 2nd quarter. nVerses Capital LLC now owns 900 shares of the business services provider’s stock valued at $56,000 after buying an additional 300 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Kforce during the second quarter worth about $68,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Kforce by 96.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,313 shares of the business services provider’s stock worth $82,000 after buying an additional 643 shares during the period. 92.77% of the stock is currently 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.