Kforce (NASDAQ:KFRC) Downgraded to “Hold” Rating by StockNews.com

Kforce (NASDAQ:KFRC) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

KFRC has been the topic of several other reports. Truist Financial reduced their price objective on Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a research note on Tuesday, October 29th. Sidoti raised 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.

Kforce Stock Performance

NASDAQ KFRC opened at $58.52 on Friday. The firm has a market capitalization of $1.12 billion, a P/E ratio of 20.18 and a beta of 0.88. Kforce has a 1-year low of $52.96 and a 1-year high of $74.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06. The business’s 50-day simple moving average is $58.74 and its 200-day simple moving average is $61.88.

Kforce (NASDAQ:KFRC) last released 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. The business had revenue of $353.30 million for the quarter, compared to analyst estimates of $352.19 million. Kforce had a return on equity of 33.50% and a net margin of 3.86%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. Equities analysts predict that Kforce will post 2.68 EPS for the current year.

Hedge Funds Weigh In On Kforce

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Kforce during the 2nd quarter worth approximately $718,000. Vaughan Nelson Investment Management L.P. raised its position in shares of Kforce by 3.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 756,788 shares of the business services provider’s stock valued at $47,020,000 after purchasing an additional 23,920 shares in the last quarter. Raymond James & Associates raised its position in shares of Kforce by 3.8% in the 3rd quarter. Raymond James & Associates now owns 98,253 shares of the business services provider’s stock valued at $6,038,000 after purchasing an additional 3,560 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Kforce by 0.6% in the 2nd 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 purchasing an additional 13,706 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Kforce in the 3rd quarter valued at approximately $916,000. 92.77% of the stock is owned by institutional investors and hedge funds.

Kforce Company Profile

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.