Kforce (NASDAQ:KFRC) Hits New 52-Week Low – What’s Next?

Kforce Inc. (NASDAQ:KFRC)’s stock price hit a new 52-week low on Monday . The company traded as low as $54.59 and last traded at $54.65, with a volume of 17335 shares trading hands. The stock had previously closed at $55.58.

Wall Street Analyst Weigh In

Several research firms have issued reports on KFRC. StockNews.com upgraded Kforce from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Sidoti upgraded shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Kforce has a consensus rating of “Moderate Buy” and a consensus target price of $68.75.

Kforce Trading Up 0.7 %

The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.05 billion, a P/E ratio of 20.06 and a beta of 0.87. The business has a 50-day moving average price of $61.26 and a two-hundred day moving average price of $62.76.

Kforce (NASDAQ:KFRC) last issued its quarterly earnings results on Monday, July 29th. The business services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.73 by $0.02. Kforce had a net margin of 3.56% and a return on equity of 34.89%. The company had revenue of $356.32 million during the quarter, compared to analysts’ expectations of $356.20 million. During the same quarter in the previous year, the company earned $0.95 EPS. Kforce’s revenue was down 8.4% on a year-over-year basis. On average, analysts predict that Kforce Inc. will post 2.7 EPS for the current year.

Kforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Friday, September 13th. Kforce’s payout ratio is 56.51%.

Institutional Trading of Kforce

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates boosted its stake in Kforce by 3.8% during the 3rd quarter. Raymond James & Associates now owns 98,253 shares of the business services provider’s stock worth $6,038,000 after acquiring an additional 3,560 shares during the last quarter. Blue Trust Inc. raised its holdings in Kforce by 259.5% in the third quarter. Blue Trust Inc. now owns 1,535 shares of the business services provider’s stock worth $95,000 after purchasing an additional 1,108 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in shares of Kforce during the third quarter worth $30,000. Annex Advisory Services LLC grew its holdings in shares of Kforce by 35.6% in the 3rd quarter. Annex Advisory Services LLC now owns 12,211 shares of the business services provider’s stock valued at $750,000 after buying an additional 3,203 shares during the period. Finally, Inspire Investing LLC increased its position in shares of Kforce by 17.9% in the 3rd quarter. Inspire Investing LLC now owns 6,673 shares of the business services provider’s stock valued at $410,000 after buying an additional 1,014 shares in the last quarter. 92.77% of the stock is owned by 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.