Truist Financial Cuts 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 report published on Tuesday morning, Benzinga reports. They currently have a hold rating on the business services provider’s stock.

KFRC has been the subject of several other research reports. Sidoti raised shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Tuesday, October 15th. StockNews.com upgraded shares of Kforce from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $65.75.

Kforce Stock Down 1.0 %

NASDAQ:KFRC opened at $57.79 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. Kforce has a 12-month low of $52.96 and a 12-month high of $74.79. The stock’s fifty day simple moving average is $60.24 and its 200-day simple moving average is $62.33. The firm has a market capitalization of $1.12 billion, a P/E ratio of 20.14 and a beta of 0.87.

Kforce (NASDAQ:KFRC) last issued 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 firm had revenue of $353.30 million for the quarter, compared to analysts’ expectations of $352.19 million. Kforce had a return on equity of 33.70% and a net margin of 3.86%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.90 earnings per share. Equities research analysts expect that Kforce will post 2.68 earnings per share for the current year.

Kforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, December 6th. Kforce’s dividend payout ratio (DPR) is presently 52.41%.

Institutional Investors Weigh In On Kforce

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. boosted its stake in Kforce by 59.9% in the 2nd quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock worth $27,000 after purchasing an additional 160 shares during the period. Azzad Asset Management Inc. ADV boosted its position in shares of Kforce by 1.5% during the third quarter. Azzad Asset Management Inc. ADV now owns 13,189 shares of the business services provider’s stock worth $810,000 after buying an additional 192 shares during the period. ProShare Advisors LLC boosted its position in shares of Kforce by 6.6% during the first quarter. ProShare Advisors LLC now owns 3,383 shares of the business services provider’s stock worth $239,000 after buying an additional 209 shares during the period. SummerHaven Investment Management LLC raised its position in Kforce by 2.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 12,107 shares of the business services provider’s stock valued at $752,000 after buying an additional 247 shares during the last quarter. Finally, Access Investment Management LLC lifted its stake in Kforce by 0.8% in the 2nd quarter. Access Investment Management LLC now owns 36,275 shares of the business services provider’s stock valued at $2,254,000 after acquiring an additional 300 shares in the last quarter. 92.77% of the stock is currently owned by institutional investors and hedge funds.

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.