Deutsche Bank Starts (KFRC) at Hold

August 18, 2016 7:21 AM EDT
Get Alerts KFRC Hot Sheet
Price: $22.45 +1.35%

Rating Summary:
    4 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Deutsche Bank initiated coverage on (NASDAQ: KFRC) with a Hold rating and a price target of $19. Analyst Kevin McVeigh said recent weakness isn’t enough to recommend the stock.

"While we like this business model, we believe that the Street has to become more comfortable with estimates as they come down and a lot of the discount for volatility comes out of the stock. That said, we believe the NRC improves Kforce’s operating efficiency, allowing the company to drop much more of its gross profit to the bottom line. In addition, we like IT staffing, as we believe it will be more durable than the market overall as companies try to use technology to avoid adding labor. In addition, healthcare reform is driving up the cost of labor, making the technology efficiency substitution more attractive, thus driving demand for IT staffing," said the analyst.

For an analyst ratings summary and ratings history on click here. For more ratings news on click here.

Shares of closed at $18.35 yesterday.

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