Zacks Investment Research Downgrades Kforce (KFRC) to Hold
Zacks Investment Research lowered shares of Kforce (NASDAQ:KFRC) from a buy rating to a hold rating in a research note published on Tuesday morning.
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 research analysts have also issued reports on the company. BidaskClub lowered Kforce from a strong-buy rating to a buy rating in a research report on Wednesday, December 27th. Northcoast Research upgraded Kforce from a neutral rating to a buy rating in a research report on Monday, November 6th. Robert W. Baird reiterated a buy rating and set a $25.00 price target on shares of Kforce in a research report on Friday, November 3rd. ValuEngine upgraded Kforce from a hold rating to a buy rating in a research report on Friday, October 27th. Finally, SunTrust Banks lowered Kforce from a buy rating to a hold rating and reduced their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 11th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $24.83.
Kforce (NASDAQ:KFRC) traded down $0.25 during trading hours on Tuesday, reaching $26.65. The company had a trading volume of 56,576 shares, compared to its average volume of 95,022. Kforce has a twelve month low of $16.75 and a twelve month high of $27.30. The firm has a market cap of $711.97, a price-to-earnings ratio of 18.77 and a beta of 1.68. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.91.
Kforce (NASDAQ:KFRC) last released its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.45. Kforce had a return on equity of 28.83% and a net margin of 2.71%. The business had revenue of $341.05 million during the quarter, compared to analyst estimates of $340.67 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. sell-side analysts forecast that Kforce will post 1.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.80%. Kforce’s dividend payout ratio (DPR) is presently 33.80%.
In other news, President Joseph J. Liberatore sold 21,380 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $27.15, for a total value of $580,467.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director N John Simmons sold 5,000 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $23.31, for a total value of $116,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 105,137 shares of company stock valued at $2,686,362 in the last quarter. 13.30% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in KFRC. BNP Paribas Arbitrage SA lifted its holdings in shares of Kforce by 612.0% in the second quarter. BNP Paribas Arbitrage SA now owns 5,340 shares of the business services provider’s stock valued at $105,000 after buying an additional 4,590 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Kforce in the third quarter valued at $213,000. Aperio Group LLC acquired a new stake in shares of Kforce in the third quarter valued at $216,000. AXA acquired a new stake in shares of Kforce in the second quarter valued at $261,000. Finally, Voya Investment Management LLC lifted its holdings in shares of Kforce by 13.4% in the second quarter. Voya Investment Management LLC now owns 13,979 shares of the business services provider’s stock valued at $274,000 after buying an additional 1,653 shares during the period. Institutional investors and hedge funds own 78.77% of the company’s stock.
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Kforce Company Profile
Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.
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