Kforce, Inc. (KFRC) Cut to Hold at SunTrust Banks, Inc.
Kforce, Inc. (NASDAQ:KFRC) was downgraded by research analysts at SunTrust Banks, Inc. from a “buy” rating to a “hold” rating in a report released on Wednesday, MarketBeat Ratings reports. They presently have a $22.00 price objective on the business services provider’s stock, down from their prior price objective of $23.00. SunTrust Banks, Inc.’s price objective indicates a potential upside of 12.82% from the stock’s current price.
Other research analysts also recently issued research reports about the stock. TheStreet upgraded shares of Kforce from a “c+” rating to a “b” rating in a report on Monday, October 2nd. Robert W. Baird restated a “buy” rating and set a $20.00 price objective on shares of Kforce in a report on Tuesday, September 12th. ValuEngine upgraded shares of Kforce from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. BidaskClub downgraded shares of Kforce from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Finally, Deutsche Bank AG lowered their price objective on shares of Kforce from $25.00 to $22.00 and set a “hold” rating on the stock in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $23.20.
Kforce (KFRC) traded down 0.26% during midday trading on Wednesday, reaching $19.50. 66,522 shares of the company’s stock traded hands. The firm has a market cap of $493.16 million, a price-to-earnings ratio of 14.21 and a beta of 1.59. Kforce has a 1-year low of $15.95 and a 1-year high of $26.95. The stock’s 50 day moving average price is $19.01 and its 200 day moving average price is $19.46.
Kforce (NASDAQ:KFRC) last released its earnings results on Tuesday, August 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.02). Kforce had a net margin of 2.64% and a return on equity of 29.67%. The company had revenue of $340.31 million for the quarter, compared to analyst estimates of $345.24 million. During the same quarter in the previous year, the firm earned $0.41 EPS. The firm’s revenue was up 1.6% on a year-over-year basis. Equities research analysts anticipate that Kforce will post $1.51 EPS for the current year.
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In other news, COO Kye L. Mitchell sold 5,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $17.99, for a total value of $89,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised 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 purchasing an additional 4,590 shares during the last quarter. FNY Managed Accounts LLC raised its holdings in shares of Kforce by 117.8% in the second quarter. FNY Managed Accounts LLC now owns 5,445 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 2,945 shares during the last quarter. Dubuque Bank & Trust Co. raised its holdings in shares of Kforce by 22.7% in the second quarter. Dubuque Bank & Trust Co. now owns 11,665 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 2,158 shares during the last quarter. AXA purchased a new stake in shares of Kforce in the second quarter valued at about $261,000. Finally, KBC Group NV purchased a new stake in shares of Kforce in the second quarter valued at about $266,000. 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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