Kforce (NASDAQ:KFRC) Price Target Lowered to $46.00 at Truist Financial

Key Points

• Truist Financial has lowered Kforce's price target from $50.00 to $46.00, maintaining a "hold" rating and indicating a potential upside of 15.92% from the current stock price.
• Kforce reported a quarterly earnings miss of $0.59 per share, slightly below the consensus estimate, with a year-over-year revenue decrease of 6.2%.
• Institutional investors own 92.77% of Kforce's stock, reflecting significant institutional interest in the company's performance.

Kforce (NASDAQ:KFRC - Get Free Report) had its price target dropped by investment analysts at Truist Financial from $50.00 to $46.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the business services provider's stock. Truist Financial's price objective indicates a potential upside of 15.92% from the company's current price.

Other equities research analysts also recently issued reports about the company. UBS Group increased their price target 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 lowered Kforce from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd.

Kforce Price Performance

Shares of Kforce stock traded down $7.23 during trading hours on Tuesday, reaching $39.68. 349,425 shares of the company's stock were exchanged, compared to its average volume of 147,376. Kforce has a 1 year low of $35.50 and a 1 year high of $71.48. The company has a market capitalization of $739.31 million, a P/E ratio of 14.76 and a beta of 0.75. The business has a fifty day moving average of $42.02 and a two-hundred day moving average of $46.09. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16.

Kforce (NASDAQ:KFRC - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). Kforce had a net margin of 3.59% and a return on equity of 30.34%. The company's revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 earnings per share. As a group, research analysts predict that Kforce will post 2.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David L. Dunkel purchased 1,000 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was bought at an average price of $37.80 per share, for a total transaction of $37,800.00. Following the purchase, the director owned 517,329 shares in the company, valued at $19,555,036.20. The trade was a 0.19% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kforce

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in Kforce by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 149,463 shares of the business services provider's stock worth $7,307,000 after buying an additional 492 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Kforce by 5.4% during the first quarter. Envestnet Asset Management Inc. now owns 175,433 shares of the business services provider's stock worth $8,577,000 after acquiring an additional 8,995 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Kforce by 10.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,019 shares of the business services provider's stock valued at $687,000 after buying an additional 1,362 shares during the period. Janney Montgomery Scott LLC lifted its stake in Kforce by 3.8% during the first quarter. Janney Montgomery Scott LLC now owns 35,834 shares of the business services provider's stock worth $1,752,000 after purchasing an additional 1,311 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Kforce by 5.6% during the fourth quarter. Northern Trust Corp now owns 258,765 shares of the business services provider's stock worth $14,672,000 after buying an additional 13,811 shares in the last quarter. 92.77% of the stock is 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.

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