BidaskClub Lowers Kforce (KFRC) to Sell

BidaskClub lowered shares of Kforce (NASDAQ:KFRC) from a hold rating to a sell rating in a research note published on Friday morning, BidAskClub reports.

A number of other analysts also recently issued reports on the stock. ValuEngine raised shares of Kforce from a hold rating to a buy rating in a report on Thursday, February 7th. Zacks Investment Research downgraded shares of Kforce from a buy rating to a hold rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $40.20.

KFRC stock opened at $36.20 on Friday. The firm has a market capitalization of $930.51 million, a PE ratio of 15.50 and a beta of 1.31. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43. Kforce has a 12 month low of $27.95 and a 12 month high of $43.51.

Kforce (NASDAQ:KFRC) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). The business had revenue of $326.70 million during the quarter, compared to analysts’ expectations of $329.80 million. Kforce had a net margin of 5.41% and a return on equity of 36.23%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the company earned $0.37 earnings per share. On average, research analysts expect that Kforce will post 2.46 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, June 6th. Kforce’s dividend payout ratio (DPR) is presently 31.30%.

In related news, Director N John Simmons sold 2,500 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.97, for a total transaction of $89,925.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Kye L. Mitchell sold 17,513 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.30, for a total transaction of $635,721.90. The disclosure for this sale can be found here. Corporate insiders own 11.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in KFRC. Bank of New York Mellon Corp lifted its holdings in Kforce by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 208,683 shares of the business services provider’s stock valued at $7,846,000 after purchasing an additional 5,164 shares in the last quarter. Martingale Asset Management L P lifted its holdings in Kforce by 23.0% during the third quarter. Martingale Asset Management L P now owns 78,534 shares of the business services provider’s stock valued at $2,953,000 after purchasing an additional 14,701 shares in the last quarter. BlackRock Inc. lifted its holdings in Kforce by 30.1% during the third quarter. BlackRock Inc. now owns 2,693,340 shares of the business services provider’s stock valued at $101,271,000 after purchasing an additional 622,623 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Kforce by 8.3% during the third quarter. JPMorgan Chase & Co. now owns 34,082 shares of the business services provider’s stock valued at $1,282,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Kforce by 158.6% during the third quarter. Renaissance Technologies LLC now owns 95,048 shares of the business services provider’s stock valued at $3,574,000 after purchasing an additional 58,299 shares in the last quarter. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

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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