Truist Financial Trims Kforce (NASDAQ:KFRC) Target Price to $58.00

Kforce (NASDAQ:KFRC) had its price target lowered by equities research analysts at Truist Financial from $68.00 to $58.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the business services provider’s stock. Truist Financial’s price target would suggest a potential upside of 3.22% from the company’s previous close.

KFRC has been the subject of a number of other research reports. StockNews.com upgraded Kforce from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Kforce currently has an average rating of “Moderate Buy” and an average target price of $65.75.

Kforce Trading Up 0.9 %

KFRC stock traded up $0.51 during midday trading on Tuesday, hitting $56.19. The company had a trading volume of 108,912 shares, compared to its average volume of 111,176. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.22. Kforce has a 52 week low of $52.96 and a 52 week high of $74.79. The stock’s 50 day moving average price is $60.48 and its 200 day moving average price is $62.41. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 20.87 and a beta of 0.87.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $0.75 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $352.19 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. The business’s revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts expect that Kforce will post 2.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kforce

A number of institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in shares of Kforce by 59.9% in the second quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock worth $27,000 after acquiring an additional 160 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its position in shares of Kforce by 1.5% during the third quarter. Azzad Asset Management Inc. ADV now owns 13,189 shares of the business services provider’s stock valued at $810,000 after buying an additional 192 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Kforce by 6.6% during the first quarter. ProShare Advisors LLC now owns 3,383 shares of the business services provider’s stock valued at $239,000 after buying an additional 209 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Kforce by 2.1% during the second quarter. SummerHaven Investment Management LLC now owns 12,107 shares of the business services provider’s stock valued at $752,000 after buying an additional 247 shares during the last quarter. Finally, Access Investment Management LLC boosted its position in shares of Kforce by 0.8% during the second quarter. Access Investment Management LLC now owns 36,275 shares of the business services provider’s stock valued at $2,254,000 after buying an additional 300 shares during the last quarter. 92.77% of the stock is owned by hedge funds and other institutional investors.

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.