Kforce (KFRC) Coverage Initiated at Credit Suisse Group

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Investment analysts at Credit Suisse Group began coverage on shares of Kforce (NASDAQ:KFRC) in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $38.00 price target on the business services provider’s stock. Credit Suisse Group’s target price points to a potential downside of 11.94% from the stock’s current price.

A number of other brokerages also recently issued reports on KFRC. Zacks Investment Research raised Kforce from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Saturday, August 4th. Robert W. Baird reaffirmed a “buy” rating and set a $45.00 price target on shares of Kforce in a report on Thursday, August 2nd. SunTrust Banks upped their price objective on Kforce to $44.00 and gave the company a “hold” rating in a research report on Thursday, August 2nd. BidaskClub upgraded Kforce from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 16th. Finally, Northcoast Research cut Kforce from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research report on Friday, June 1st. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $41.40.

Shares of Kforce traded up $0.35, reaching $43.15, during midday trading on Friday, Marketbeat Ratings reports. 193,642 shares of the company’s stock traded hands, compared to its average volume of 255,458. The company has a market cap of $1.12 billion, a P/E ratio of 22.29 and a beta of 1.60. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.77 and a quick ratio of 2.77. Kforce has a one year low of $17.30 and a one year high of $43.51.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The firm had revenue of $358.62 million for the quarter, compared to the consensus estimate of $358.07 million. Kforce had a return on equity of 34.52% and a net margin of 3.00%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share. sell-side analysts anticipate that Kforce will post 2.25 earnings per share for the current year.

In other Kforce news, Director Ralph Struzziero sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $42.95, for a total value of $64,425.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David L. Dunkel sold 17,000 shares of the company’s stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of $34.00, for a total value of $578,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,786 shares of company stock valued at $1,677,087. Company insiders own 13.30% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of KFRC. Victory Capital Management Inc. grew its position in shares of Kforce by 15.9% during the second quarter. Victory Capital Management Inc. now owns 10,968 shares of the business services provider’s stock worth $376,000 after purchasing an additional 1,504 shares in the last quarter. Citigroup Inc. grew its position in shares of Kforce by 84.0% during the first quarter. Citigroup Inc. now owns 6,848 shares of the business services provider’s stock worth $185,000 after purchasing an additional 3,127 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Kforce by 1.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 285,520 shares of the business services provider’s stock worth $9,794,000 after purchasing an additional 3,491 shares in the last quarter. First Trust Advisors LP grew its position in shares of Kforce by 16.5% during the second quarter. First Trust Advisors LP now owns 26,363 shares of the business services provider’s stock worth $904,000 after purchasing an additional 3,737 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its position in shares of Kforce by 207.9% during the second quarter. Meeder Asset Management Inc. now owns 5,567 shares of the business services provider’s stock worth $191,000 after purchasing an additional 3,759 shares in the last quarter. Institutional investors and hedge funds own 78.16% of the company’s stock.

Kforce Company Profile

Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.

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