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

Kforce (NASDAQ:KFRC - Get Free Report) had its price objective dropped by equities researchers at Truist Financial from $68.00 to $58.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a "hold" rating on the business services provider's stock. Truist Financial's price objective points to a potential upside of 1.51% from the stock's previous close.

Several other research firms have also recently issued reports on KFRC. StockNews.com upgraded shares of Kforce from a "hold" rating to a "buy" rating in a research report on Thursday, August 1st. Sidoti upgraded Kforce from a "neutral" rating to a "buy" rating and set a $71.00 price objective on the stock in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Kforce has a consensus rating of "Moderate Buy" and a consensus price target of $65.75.

Kforce Stock Performance

NASDAQ KFRC traded up $1.46 during mid-day trading on Tuesday, reaching $57.14. 282,181 shares of the stock were exchanged, compared to its average volume of 112,023. 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 0.22, a quick ratio of 2.33 and a current ratio of 2.33. The business's 50 day moving average is $60.48 and its 200-day moving average is $62.41. The company has a market capitalization of $1.11 billion, a P/E ratio of 21.21 and a beta of 0.87.

Kforce (NASDAQ:KFRC - Get Free Report) last issued its earnings results on Monday, October 28th. The business services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.06. The business had revenue of $353.30 million for the quarter, compared to analysts' expectations of $352.19 million. Kforce had a return on equity of 34.89% and a net margin of 3.56%. The business's revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS. On average, equities research analysts forecast that Kforce will post 2.7 EPS for the current fiscal year.

Institutional Trading of Kforce

A number of institutional investors have recently bought and sold shares of KFRC. Blue Trust Inc. raised its stake in Kforce by 59.9% during the 2nd quarter. Blue Trust Inc. now owns 427 shares of the business services provider's stock worth $27,000 after acquiring an additional 160 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of Kforce during the third quarter worth approximately $30,000. nVerses Capital LLC increased its holdings in shares of Kforce by 50.0% in the 2nd quarter. nVerses Capital LLC now owns 900 shares of the business services provider's stock valued at $56,000 after acquiring an additional 300 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Kforce in the 2nd quarter valued at $68,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Kforce by 96.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,313 shares of the business services provider's stock worth $82,000 after purchasing an additional 643 shares during the period. 92.77% of the stock is owned by hedge funds and other institutional investors.

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.