Robert W. Baird Reiterates Buy Rating for Kforce, Inc. (KFRC)
Kforce, Inc. (NASDAQ:KFRC)‘s stock had its “buy” rating reissued by equities researchers at Robert W. Baird in a research note issued on Tuesday. They presently have a $20.00 price target on the business services provider’s stock. Robert W. Baird’s price target points to a potential upside of 8.11% from the stock’s current price.
Other equities research analysts have also issued research reports about the stock. ValuEngine raised shares of Kforce from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. TheStreet lowered shares of Kforce from a “b-” rating to a “c+” rating in a research note on Wednesday, May 31st. Deutsche Bank AG reduced their price objective on shares of Kforce from $25.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, August 2nd. BidaskClub lowered shares of Kforce from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, Zacks Investment Research lowered shares of Kforce from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Kforce has an average rating of “Hold” and a consensus target price of $24.20.
Kforce (NASDAQ:KFRC) opened at 18.50 on Tuesday. The stock has a market capitalization of $467.87 million, a price-to-earnings ratio of 13.48 and a beta of 1.56. Kforce has a 52-week low of $15.95 and a 52-week high of $26.95. The firm has a 50-day moving average price of $18.07 and a 200 day moving average price of $20.29.
Kforce (NASDAQ:KFRC) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $340.31 million during the quarter, compared to analyst estimates of $345.24 million. During the same period in the previous year, the firm posted $0.41 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities research analysts predict that Kforce will post $1.51 EPS for the current year.
In other Kforce news, COO Kye L. Mitchell sold 5,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $17.99, for a total transaction of $89,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 13.30% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in KFRC. Investment Counselors of Maryland LLC lifted its position in Kforce by 27.8% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 1,004,771 shares of the business services provider’s stock worth $19,694,000 after acquiring an additional 218,650 shares during the last quarter. Opus Capital Group LLC lifted its position in Kforce by 1,309.7% during the 2nd quarter. Opus Capital Group LLC now owns 210,493 shares of the business services provider’s stock worth $4,126,000 after acquiring an additional 195,561 shares during the last quarter. Citadel Advisors LLC acquired a new position in Kforce during the 2nd quarter worth $3,435,000. Macquarie Group Ltd. lifted its position in Kforce by 16.9% during the 2nd quarter. Macquarie Group Ltd. now owns 1,136,060 shares of the business services provider’s stock worth $22,267,000 after acquiring an additional 164,268 shares during the last quarter. Finally, Deprince Race & Zollo Inc. lifted its position in Kforce by 28.1% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 715,659 shares of the business services provider’s stock worth $14,027,000 after acquiring an additional 157,134 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.
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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