Kforce, a business services provider, has received an upgrade from Sidoti, a renowned equities research firm. Sidoti upgraded Kforce’s rating from “neutral” to “buy” in a research report released on Tuesday. The firm has also set a price objective of $71.00 for Kforce’s stock, indicating a potential upside of 22.75% from its current price.
This upgrade follows another positive rating change by StockNews.com, which upgraded Kforce from a “hold” to a “buy” rating on August 1st. With these upgrades, three out of five investment analysts now rate Kforce as a “buy,” while the remaining two have given it a “hold” rating. According to MarketBeat.com, the average rating for Kforce is currently “Moderate Buy,” with an average price target of $68.75.
In its latest earnings report, Kforce announced earnings per share of $0.75 for the quarter, surpassing the consensus estimate of $0.73 by $0.02. The company’s net margin stood at 3.56%, and it reported a return on equity of 34.89%. Kforce generated $356.32 million in revenue during the quarter, slightly exceeding analyst estimates of $356.20 million. However, the company experienced an 8.4% decline in revenue compared to the same quarter last year.
Institutional investors have also shown interest in Kforce, with notable changes in their positions. Kayne Anderson Rudnick Investment Management LLC increased its holdings by 0.6% in the second quarter, while Vaughan Nelson Investment Management L.P. raised its stake by 3.3%. Tributary Capital Management LLC and Bank of New York Mellon Corp also increased their positions, with the former adding 0.3% and the latter raising its holdings by 5.1%. Aptus Capital Advisors LLC boosted its position by 24.8% during the same period.
It is important to note that 92.77% of Kforce’s stock is currently owned by hedge funds and other institutional investors.
Kforce Inc provides professional staffing services and solutions in the United States. The company operates in two segments: Technology and Finance and Accounting (FA). The Technology segment offers talent solutions in areas such as information technology, systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.