StockNews.com Downgrades Kforce (NASDAQ:KFRC) to Hold

Kforce (NASDAQ:KFRC) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other equities research analysts have also recently commented on the stock. Truist Financial dropped their price target on shares of Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a research report on Tuesday. Sidoti upgraded shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $65.75.

Kforce Price Performance

Kforce stock traded down $0.61 during trading hours on Thursday, hitting $57.79. 187,156 shares of the company traded hands, compared to its average volume of 112,710. The firm’s 50-day simple moving average is $60.24 and its two-hundred day simple moving average is $62.33. The firm has a market cap of $1.12 billion, a P/E ratio of 19.93 and a beta of 0.87. Kforce has a 1-year low of $52.96 and a 1-year high of $74.79. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.22.

Kforce (NASDAQ:KFRC) last announced its earnings results on Monday, October 28th. The business services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. Kforce had a return on equity of 34.89% and a net margin of 3.56%. The firm had revenue of $353.30 million for the quarter, compared to analysts’ expectations of $352.19 million. During the same quarter in the previous year, the company earned $0.90 earnings per share. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. As a group, analysts forecast that Kforce will post 2.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kforce

Hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new position in Kforce during the 2nd quarter worth approximately $1,488,000. Vaughan Nelson Investment Management L.P. boosted its position in shares of Kforce by 3.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 756,788 shares of the business services provider’s stock worth $47,020,000 after buying an additional 23,920 shares during the period. Aptus Capital Advisors LLC boosted its position in shares of Kforce by 24.8% in the second quarter. Aptus Capital Advisors LLC now owns 75,081 shares of the business services provider’s stock worth $4,665,000 after buying an additional 14,925 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Kforce by 0.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,402,035 shares of the business services provider’s stock valued at $149,238,000 after buying an additional 13,706 shares in the last quarter. Finally, Sei Investments Co. raised its position in Kforce by 36.1% during the first quarter. Sei Investments Co. now owns 45,459 shares of the business services provider’s stock valued at $3,207,000 after buying an additional 12,050 shares during the period. Hedge funds and other institutional investors own 92.77% of the company’s stock.

About Kforce

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.