SunTrust Banks Cuts Korn Ferry (NYSE:KFY) Price Target to $58.00

Korn Ferry (NYSE:KFY) had its target price dropped by equities researchers at SunTrust Banks to $58.00 in a research report issued on Friday, June 21st, The Fly reports. The brokerage currently has a “buy” rating on the business services provider’s stock. SunTrust Banks’ price objective would indicate a potential upside of 46.87% from the company’s current price. SunTrust Banks also issued estimates for Korn Ferry’s Q1 2020 earnings at $0.75 EPS, Q2 2020 earnings at $0.93 EPS, Q3 2020 earnings at $0.85 EPS, FY2020 earnings at $3.51 EPS, Q1 2021 earnings at $0.78 EPS, Q2 2021 earnings at $0.96 EPS, Q3 2021 earnings at $0.90 EPS, Q4 2021 earnings at $1.04 EPS and FY2021 earnings at $3.69 EPS.

A number of other equities research analysts also recently weighed in on the company. ValuEngine downgraded Welbilt from a “hold” rating to a “sell” rating in a report on Wednesday, June 12th. William Blair reiterated an “outperform” rating on shares of Korn Ferry in a research note on Friday, March 8th. Finally, Zacks Investment Research cut shares of Haynes International from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $49.33.

KFY stock traded up $0.87 during trading on Friday, reaching $39.49. 406,571 shares of the stock were exchanged, compared to its average volume of 601,094. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.06 and a quick ratio of 2.06. The business’s 50 day simple moving average is $42.69. The firm has a market capitalization of $2.23 billion, a P/E ratio of 11.93 and a beta of 1.16. Korn Ferry has a twelve month low of $37.08 and a twelve month high of $68.98.

Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Thursday, June 20th. The business services provider reported $0.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.88. The company had revenue of $490.76 million for the quarter, compared to the consensus estimate of $496.76 million. Korn Ferry had a return on equity of 15.68% and a net margin of 5.20%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 earnings per share. Equities research analysts expect that Korn Ferry will post 3.49 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC raised its position in shares of Korn Ferry by 1,403.1% during the 1st quarter. Parallel Advisors LLC now owns 1,969 shares of the business services provider’s stock valued at $88,000 after acquiring an additional 1,838 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Korn Ferry by 55.0% in the 4th quarter. Advisors Asset Management Inc. now owns 2,698 shares of the business services provider’s stock valued at $107,000 after buying an additional 957 shares during the period. NumerixS Investment Technologies Inc acquired a new position in shares of Korn Ferry in the 4th quarter valued at $150,000. Advisor Group Inc. grew its holdings in shares of Korn Ferry by 8.8% in the 4th quarter. Advisor Group Inc. now owns 4,080 shares of the business services provider’s stock valued at $162,000 after buying an additional 330 shares during the period. Finally, Beacon Investment Advisory Services Inc. acquired a new position in shares of Korn Ferry in the 4th quarter valued at $206,000. Hedge funds and other institutional investors own 90.21% of the company’s stock.

Korn Ferry Company Profile

Korn Ferry, together with its subsidiaries, provides talent management solutions worldwide. It operates through three segments: Executive Search, Hay Group, and Futurestep. The company provides executive search services to fill executive-level positions, such as board directors, chief executive officers, chief financial officers, chief operating officers, chief information officers, chief human resource officers, and other senior executive officers for clients in the consumer, financial services, industrial, life sciences/healthcare provider, technology, and educational/not-for-profit market sectors.

Further Reading: Short Selling Stocks, A Beginner’s Guide

The Fly

Receive News & Ratings for Korn Ferry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Korn Ferry and related companies with MarketBeat.com's FREE daily email newsletter.