Analysts Set Kforce Inc. (NASDAQ:KFRC) Target Price at $42.29

Kforce Inc. (NASDAQ:KFRC) has earned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $42.29.

Several equities analysts recently commented on the company. Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Monday, January 4th. Credit Suisse Group upped their target price on Kforce from $37.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, February 9th. Zacks Investment Research upgraded Kforce from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday, February 9th. Finally, Truist upped their target price on Kforce from $37.00 to $48.00 in a research note on Wednesday, January 20th.

In other news, insider Kye L. Mitchell sold 3,497 shares of the company’s stock in a transaction dated Friday, February 12th. The stock was sold at an average price of $46.49, for a total value of $162,575.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ralph Struzziero sold 4,811 shares of the company’s stock in a transaction dated Wednesday, December 9th. The stock was sold at an average price of $43.05, for a total value of $207,113.55. Following the completion of the sale, the director now directly owns 8,596 shares of the company’s stock, valued at approximately $370,057.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,715 shares of company stock valued at $3,887,354. 10.80% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Kforce by 5.3% in the fourth quarter. BlackRock Inc. now owns 2,139,511 shares of the business services provider’s stock worth $90,052,000 after buying an additional 108,234 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Kforce by 18.8% in the fourth quarter. Nuveen Asset Management LLC now owns 414,545 shares of the business services provider’s stock worth $17,448,000 after buying an additional 65,669 shares during the period. FIL Ltd purchased a new stake in shares of Kforce in the fourth quarter worth about $17,093,000. Royce & Associates LP boosted its position in shares of Kforce by 4.4% in the fourth quarter. Royce & Associates LP now owns 251,956 shares of the business services provider’s stock worth $10,605,000 after buying an additional 10,706 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Kforce by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 248,476 shares of the business services provider’s stock worth $10,459,000 after buying an additional 3,036 shares during the period. 77.34% of the stock is owned by institutional investors.

Shares of NASDAQ KFRC traded up $0.38 during trading on Tuesday, reaching $50.36. The company had a trading volume of 13,159 shares, compared to its average volume of 113,809. Kforce has a twelve month low of $20.60 and a twelve month high of $50.76. The stock has a market capitalization of $1.11 billion, a PE ratio of 20.65 and a beta of 1.49. The stock has a 50-day moving average price of $44.95 and a two-hundred day moving average price of $39.45. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 0.59.

Kforce (NASDAQ:KFRC) last released its earnings results on Sunday, February 7th. The business services provider reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.09. The firm had revenue of $354.00 million during the quarter, compared to analyst estimates of $345.00 million. Kforce had a return on equity of 32.56% and a net margin of 3.77%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. On average, sell-side analysts predict that Kforce will post 2.52 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Friday, March 12th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Thursday, March 11th. This is an increase from Kforce’s previous quarterly dividend of $0.20. Kforce’s payout ratio is 34.04%.

About Kforce

Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech) and Finance and Accounting (FA) 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, business and artificial intelligence, machine learning, network architecture, security, enterprise data, and project management.

See Also: Earnings Per Share (EPS)

Analyst Recommendations for Kforce (NASDAQ:KFRC)

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