Zacks Investment Research Upgrades Kforce, Inc. (KFRC) to Hold
Kforce, Inc. (NASDAQ:KFRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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). “
KFRC has been the topic of a number of other research reports. Deutsche Bank AG reduced their price objective on Kforce from $25.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, August 2nd. BidaskClub downgraded Kforce from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. ValuEngine downgraded Kforce from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Robert W. Baird reiterated a “buy” rating and set a $20.00 price objective on shares of Kforce in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $23.50.
Kforce (NASDAQ KFRC) traded up 0.49% during trading on Wednesday, hitting $20.45. The stock had a trading volume of 48,067 shares. The company has a market cap of $517.18 million, a PE ratio of 14.91 and a beta of 1.59. The company’s 50 day moving average is $18.57 and its 200-day moving average is $19.67. Kforce has a 12 month low of $15.95 and a 12 month high of $26.95.
Kforce (NASDAQ:KFRC) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.02). Kforce had a return on equity of 29.67% and a net margin of 2.64%. The company had revenue of $340.31 million for the quarter, compared to analysts’ expectations of $345.24 million. During the same quarter in the previous year, the business posted $0.41 EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that Kforce will post $1.51 earnings per share for the current year.
In other Kforce news, COO Kye L. Mitchell sold 5,000 shares of Kforce stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $17.99, for a total value of $89,950.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 13.30% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. Frontier Investment Mgmt Co. raised its position in Kforce by 7.7% in the second quarter. Frontier Investment Mgmt Co. now owns 216,246 shares of the business services provider’s stock valued at $4,238,000 after purchasing an additional 15,402 shares during the period. Public Employees Retirement System of Ohio raised its position in Kforce by 483.3% in the second quarter. Public Employees Retirement System of Ohio now owns 115,096 shares of the business services provider’s stock valued at $2,256,000 after purchasing an additional 95,364 shares during the period. ZPR Investment Management purchased a new stake in Kforce in the second quarter valued at $1,252,000. Arrowstreet Capital Limited Partnership raised its position in Kforce by 46.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 107,550 shares of the business services provider’s stock valued at $2,108,000 after purchasing an additional 34,200 shares during the period. Finally, State Street Corp raised its position in Kforce by 5.2% in the second quarter. State Street Corp now owns 521,416 shares of the business services provider’s stock valued at $10,221,000 after purchasing an additional 25,748 shares during the period. Institutional investors own 78.42% of the company’s stock.
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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