Korn Ferry (NYSE:KFY) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Korn Ferry (NYSE:KFY) from a hold rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Korn/Ferry International is the world’s leading and largest executive recruitment firm with the broadest global presence in the executive recruitment industry. KFY provides executive recruitment services exclusively on a retained basis and serve the global recruitment needs of our clients from middle to executive management. KFY’s clients are many of the world’s largest and most prestigious public and private companies, middle-market and emerging growth companies as well as governmental and not-for-profit organizations. “

Several other research analysts also recently commented on the company. Robert W. Baird cut their target price on Korn Ferry from $42.00 to $40.00 and set a neutral rating on the stock in a report on Friday, December 6th. Sidoti cut their target price on Korn Ferry from $63.00 to $58.00 and set a buy rating on the stock in a report on Friday, December 6th. Finally, ValuEngine raised Korn Ferry from a sell rating to a hold rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $48.20.

NYSE KFY opened at $41.73 on Tuesday. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.38. Korn Ferry has a twelve month low of $34.35 and a twelve month high of $49.54. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 12.96 and a beta of 1.15. The business’s fifty day moving average is $42.30 and its 200 day moving average is $39.40.

Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Thursday, December 5th. The business services provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.01. Korn Ferry had a return on equity of 14.73% and a net margin of 9.10%. The company had revenue of $492.40 million for the quarter, compared to the consensus estimate of $494.92 million. During the same quarter last year, the business posted $0.85 EPS. Korn Ferry’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts anticipate that Korn Ferry will post 3.12 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. lifted its stake in shares of Korn Ferry by 14.1% in the 4th quarter. Meeder Asset Management Inc. now owns 1,994 shares of the business services provider’s stock valued at $84,000 after purchasing an additional 246 shares during the period. Empirical Finance LLC lifted its stake in shares of Korn Ferry by 1.2% in the 4th quarter. Empirical Finance LLC now owns 20,845 shares of the business services provider’s stock valued at $884,000 after purchasing an additional 249 shares during the period. FMR LLC lifted its stake in shares of Korn Ferry by 27.7% in the 4th quarter. FMR LLC now owns 1,369 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 297 shares during the period. Advisors Preferred LLC lifted its stake in shares of Korn Ferry by 12.8% in the 4th quarter. Advisors Preferred LLC now owns 2,813 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 320 shares during the period. Finally, Municipal Employees Retirement System of Michigan lifted its stake in shares of Korn Ferry by 2.0% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 17,130 shares of the business services provider’s stock valued at $726,000 after purchasing an additional 340 shares during the period. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

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.

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