Robert W. Baird Reaffirms “Buy” Rating for Kforce, Inc. (KFRC)
Kforce, Inc. (NASDAQ:KFRC)‘s stock had its “buy” rating restated by investment analysts at Robert W. Baird in a research note issued to investors on Friday. They currently have a $25.00 price objective on the business services provider’s stock. Robert W. Baird’s target price indicates a potential upside of 7.53% from the stock’s current price.
KFRC has been the subject of several other reports. Zacks Investment Research upgraded Kforce from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. ValuEngine lowered Kforce from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. SunTrust Banks, Inc. lowered Kforce from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $23.00 to $22.00 in a research note on Wednesday, October 11th. TheStreet upgraded Kforce from a “c+” rating to a “b” rating in a research note on Monday, October 2nd. Finally, BidaskClub lowered Kforce from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Kforce presently has a consensus rating of “Hold” and an average price target of $24.20.
Shares of Kforce (NASDAQ KFRC) traded up $0.45 during trading on Friday, reaching $23.25. The company’s stock had a trading volume of 93,819 shares, compared to its average volume of 106,068. The company has a quick ratio of 2.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.91. The stock has a market cap of $624.63 million, a P/E ratio of 15.95 and a beta of 1.57.
Kforce (NASDAQ:KFRC) last released its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The firm had revenue of $341.05 million for the quarter, compared to analysts’ expectations of $340.67 million. Kforce had a return on equity of 28.83% and a net margin of 2.71%. The company’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. analysts predict that Kforce will post 1.5 earnings per share for the current fiscal year.
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In other Kforce news, COO Kye L. Mitchell sold 5,000 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 13.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of KFRC. Russell Investments Group Ltd. increased its stake in Kforce by 304.0% in the 1st quarter. Russell Investments Group Ltd. now owns 19,950 shares of the business services provider’s stock worth $474,000 after buying an additional 15,012 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Kforce by 0.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 76,375 shares of the business services provider’s stock valued at $1,814,000 after purchasing an additional 637 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Kforce by 18.3% during the 1st quarter. JPMorgan Chase & Co. now owns 97,958 shares of the business services provider’s stock valued at $2,327,000 after purchasing an additional 15,119 shares during the last quarter. American International Group Inc. boosted its holdings in shares of Kforce by 7.1% during the 1st quarter. American International Group Inc. now owns 15,103 shares of the business services provider’s stock valued at $359,000 after purchasing an additional 1,001 shares during the last quarter. Finally, Teachers Advisors LLC boosted its holdings in shares of Kforce by 31.3% during the 1st quarter. Teachers Advisors LLC now owns 415,407 shares of the business services provider’s stock valued at $9,866,000 after purchasing an additional 98,945 shares during the last quarter. Institutional investors and hedge funds own 78.54% 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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