Korn/Ferry International (KFY) Sets New 52-Week High Following Strong Earnings
Korn/Ferry International (NYSE:KFY)’s share price hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $36.21 and last traded at $36.35, with a volume of 850,887 shares trading hands. The stock had previously closed at $33.20.
The business services provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. Korn/Ferry International had a net margin of 5.19% and a return on equity of 12.14%. The company had revenue of $401.25 million during the quarter, compared to the consensus estimate of $392.91 million. During the same quarter in the prior year, the company posted $0.52 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year.
A number of brokerages have recently issued reports on KFY. Sidoti began coverage on Korn/Ferry International in a report on Monday, June 12th. They set a “buy” rating and a $43.00 target price for the company. Zacks Investment Research cut Korn/Ferry International from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. BidaskClub cut Korn/Ferry International from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. SunTrust Banks, Inc. boosted their target price on Korn/Ferry International from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Deutsche Bank AG boosted their target price on Korn/Ferry International from $34.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Korn/Ferry International has a consensus rating of “Hold” and a consensus price target of $36.60.
In other news, CFO Robert P. Rozek sold 15,000 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $34.59, for a total transaction of $518,850.00. Following the completion of the sale, the chief financial officer now owns 101,282 shares in the company, valued at approximately $3,503,344.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert P. Rozek sold 11,000 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $34.48, for a total value of $379,280.00. Following the sale, the chief financial officer now owns 111,782 shares of the company’s stock, valued at approximately $3,854,243.36. The disclosure for this sale can be found here. Insiders have sold a total of 183,837 shares of company stock valued at $6,336,501 in the last quarter. Company insiders own 1.01% of the company’s stock.
Large investors have recently modified their holdings of the company. Bank of Montreal Can grew its holdings in shares of Korn/Ferry International by 1.7% during the 2nd quarter. Bank of Montreal Can now owns 3,166 shares of the business services provider’s stock worth $110,000 after purchasing an additional 52 shares during the period. Riverhead Capital Management LLC boosted its holdings in Korn/Ferry International by 80.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,430 shares of the business services provider’s stock worth $118,000 after acquiring an additional 1,530 shares during the period. SG Americas Securities LLC boosted its holdings in Korn/Ferry International by 26.7% in the 2nd quarter. SG Americas Securities LLC now owns 4,161 shares of the business services provider’s stock worth $144,000 after acquiring an additional 878 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Korn/Ferry International in the 1st quarter worth approximately $156,000. Finally, Hanseatic Management Services Inc. boosted its holdings in Korn/Ferry International by 1.1% in the 2nd quarter. Hanseatic Management Services Inc. now owns 7,129 shares of the business services provider’s stock worth $246,000 after acquiring an additional 81 shares during the period. Institutional investors and hedge funds own 86.92% of the company’s stock.
The company has a market capitalization of $2.04 billion, a PE ratio of 24.43 and a beta of 1.39. The firm has a 50-day moving average price of $33.11 and a 200-day moving average price of $32.54.
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Korn/Ferry International Company Profile
Korn/Ferry International (Korn Ferry) is a people and organizational advisory company. The Company and its subsidiaries are engaged in the provision of talent management solutions, including executive search on a retained basis, recruitment for non-executive professionals, recruitment process outsourcing, and leadership and talent consulting services.
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