Kforce (NASDAQ:KFRC) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a report released on Friday, Zacks.com reports. The firm presently has a $67.00 price objective on the business services provider's stock. Zacks Investment Research's target price would indicate a potential upside of 11.35% from the stock's previous close.
According to Zacks, "kforce.com is a full-service, web-based specialty staffing firm providing flexible and permanent staffing solutions for organizations and career management for individuals in the specialty skill areas of information technology, finance & accounting, human resources, engineering, pharmaceutical, health care, legal, e-solutions consulting, scientific and insurance and investments. kforce.com offers web-based services including online resumes and job postings, interactive interviews and job placements and career management strategies (company press release). "
A number of other analysts also recently weighed in on KFRC. Truist increased their price target on shares of Kforce from $48.00 to $55.00 in a report on Thursday, March 11th. Truist Securities increased their price target on shares of Kforce from $48.00 to $55.00 in a report on Thursday, March 11th. Robert W. Baird increased their price target on shares of Kforce from $53.00 to $66.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Credit Suisse Group increased their price target on shares of Kforce from $45.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of "Buy" and a consensus price target of $55.14.
NASDAQ:KFRC traded up $0.51 during midday trading on Friday, reaching $60.17. The stock had a trading volume of 84,111 shares, compared to its average volume of 114,961. Kforce has a 1-year low of $25.73 and a 1-year high of $62.00. The firm's fifty day simple moving average is $54.93 and its 200-day simple moving average is $46.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 2.65. The stock has a market capitalization of $1.33 billion, a P/E ratio of 24.86 and a beta of 1.49.
Kforce (NASDAQ:KFRC) last posted its earnings results on Sunday, May 2nd. The business services provider reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.01). Kforce had a net margin of 3.77% and a return on equity of 32.56%. The firm had revenue of $363.20 million during the quarter, compared to analyst estimates of $359.24 million. During the same quarter in the previous year, the business posted $0.42 earnings per share. The business's quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Kforce will post 2.52 earnings per share for the current fiscal year.
In other news, SVP Jeffrey B. Hackman sold 3,000 shares of the firm's stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $46.93, for a total transaction of $140,790.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David L. Dunkel sold 50,000 shares of the firm's stock in a transaction dated Wednesday, April 14th. The stock was sold at an average price of $56.00, for a total transaction of $2,800,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 176,840 shares of company stock valued at $9,493,145 over the last ninety days. 10.80% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in KFRC. Sei Investments Co. lifted its holdings in Kforce by 8.0% during the 3rd quarter. Sei Investments Co. now owns 96,634 shares of the business services provider's stock valued at $3,090,000 after purchasing an additional 7,196 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Kforce during the 4th quarter valued at about $300,000. Paradigm Capital Management Inc. NY lifted its holdings in Kforce by 7.3% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 141,850 shares of the business services provider's stock valued at $5,971,000 after purchasing an additional 9,700 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Kforce by 19.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,725 shares of the business services provider's stock valued at $662,000 after purchasing an additional 2,523 shares during the last quarter. Finally, Nisa Investment Advisors LLC bought a new position in Kforce during the 4th quarter valued at about $59,000. 77.34% of the stock is owned by hedge funds and other institutional investors.
Kforce Inc provides professional staffing services and solutions in the United States. It operates through Technology (Tech) and Finance and Accounting (FA) segments. The Tech segment provides temporary and permanent satffing services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management, business and artificial intelligence, machine learning, and network architecture and security.
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