Zacks Investment Research Lowers Kforce, Inc. (KFRC) to Sell
Zacks Investment Research downgraded shares of Kforce, Inc. (NASDAQ:KFRC) from a hold rating to a sell rating in a research report released on Thursday 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). “
Several other analysts also recently weighed in on the company. BidaskClub downgraded Kforce from a buy rating to a hold rating in a report on Saturday, July 8th. ValuEngine downgraded Kforce from a buy rating to a hold rating in a report on Friday, June 2nd. TheStreet downgraded Kforce from a b- rating to a c+ rating in a report on Wednesday, May 31st. Finally, Deutsche Bank AG reduced their target price on Kforce from $25.00 to $22.00 and set a hold rating for the company in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $25.25.
Shares of Kforce (NASDAQ KFRC) traded up 0.137% on Thursday, hitting $18.275. The stock had a trading volume of 74,448 shares. Kforce has a 12-month low of $15.95 and a 12-month high of $26.95. The stock has a 50 day moving average price of $19.10 and a 200-day moving average price of $21.46. The company has a market cap of $465.68 million, a price-to-earnings ratio of 13.291 and a beta of 1.54.
Kforce (NASDAQ:KFRC) last posted its earnings results on Tuesday, August 1st. The business services provider reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $340.31 million during the quarter, compared to analysts’ expectations of $345.24 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities analysts expect that Kforce will post $1.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Thursday, September 7th. Kforce’s payout ratio is currently 35.04%.
In related news, CEO David L. Dunkel sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $21.00, for a total value of $42,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 13.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of KFRC. Old Mutual Global Investors UK Ltd. bought a new position in shares of Kforce during the first quarter valued at about $100,000. BNP Paribas Arbitrage SA boosted its position 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. Dubuque Bank & Trust Co. bought a new position in shares of Kforce during the first quarter valued at about $226,000. TFS Capital LLC boosted its position in shares of Kforce by 13.8% in the first quarter. TFS Capital LLC now owns 10,964 shares of the business services provider’s stock valued at $260,000 after buying an additional 1,331 shares during the period. Finally, KBC Group NV bought a new position in shares of Kforce during the second quarter valued at about $266,000. Hedge funds and other institutional investors own 78.91% 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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