Kforce, Inc. (KFRC) Downgraded by SunTrust Banks, Inc. to “Hold”

SunTrust Banks, Inc. downgraded shares of Kforce, Inc. (NASDAQ:KFRC) from a buy rating to a hold rating in a research note released on Wednesday, MarketBeat reports. SunTrust Banks, Inc. currently has $22.00 price target on the business services provider’s stock, down from their previous price target of $23.00.

Other equities analysts also recently issued reports about the stock. TheStreet raised shares of Kforce from a c+ rating to a b rating in a research note on Monday, October 2nd. Robert W. Baird reiterated a buy rating and issued a $20.00 price objective on shares of Kforce in a report on Tuesday, September 12th. ValuEngine upgraded shares of Kforce from a hold rating to a buy rating in a report on Tuesday, June 27th. BidaskClub cut shares of Kforce from a buy rating to a hold rating in a report on Saturday, July 8th. Finally, Deutsche Bank AG decreased their price objective on shares of Kforce from $25.00 to $22.00 and set a hold rating for the company in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $23.20.

Kforce (NASDAQ KFRC) opened at 19.50 on Wednesday. The stock has a market cap of $493.16 million, a P/E ratio of 14.21 and a beta of 1.59. Kforce has a 52-week low of $15.95 and a 52-week high of $26.95. The firm’s 50-day moving average price is $19.01 and its 200 day moving average price is $19.48.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.02). Kforce had a return on equity of 29.67% and a net margin of 2.64%. The company had revenue of $340.31 million during the quarter, compared to analyst estimates of $345.24 million. During the same period last year, the company posted $0.41 earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year. Equities analysts predict that Kforce will post $1.51 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Thursday, September 7th. Kforce’s dividend payout ratio is presently 35.04%.

In related news, COO Kye L. Mitchell sold 5,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $17.99, for a total value of $89,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 13.30% of the company’s stock.

Large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. boosted its holdings in Kforce by 10.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 220,836 shares of the business services provider’s stock worth $5,245,000 after purchasing an additional 20,177 shares in the last quarter. KCG Holdings Inc. bought a new stake in Kforce during the first quarter valued at about $482,000. AJO LP bought a new stake in Kforce during the second quarter valued at about $1,828,000. Dupont Capital Management Corp boosted its holdings in Kforce by 102.1% during the second quarter. Dupont Capital Management Corp now owns 91,921 shares of the business services provider’s stock valued at $1,802,000 after acquiring an additional 46,446 shares during the period. Finally, LSV Asset Management boosted its holdings in Kforce by 73.7% during the second quarter. LSV Asset Management now owns 344,933 shares of the business services provider’s stock valued at $6,760,000 after acquiring an additional 146,400 shares during the period. Hedge funds and other institutional investors own 78.42% of the company’s stock.

Kforce Company Profile

Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.

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