Truist Financial Cuts Korn Ferry (NYSE:KFY) Price Target to $80.00

Korn Ferry (NYSE:KFY) had its price objective lowered by research analysts at Truist Financial from $84.00 to $80.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Truist Financial’s price target would suggest a potential upside of 27.49% from the stock’s previous close.

Separately, StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a research report on Tuesday, December 17th.

Korn Ferry Stock Down 2.6 %

NYSE KFY traded down $1.70 on Tuesday, reaching $62.75. The company had a trading volume of 38,638 shares, compared to its average volume of 373,698. The company’s fifty day moving average is $65.80 and its 200-day moving average is $69.69. Korn Ferry has a 1-year low of $59.44 and a 1-year high of $80.64. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 13.41 and a beta of 1.40. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07.

Korn Ferry (NYSE:KFY) last posted its quarterly earnings data on Tuesday, March 11th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.06. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The business had revenue of $676.50 million during the quarter, compared to the consensus estimate of $650.45 million. During the same period last year, the company earned $1.07 earnings per share. Korn Ferry’s quarterly revenue was down .1% on a year-over-year basis. On average, research analysts forecast that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Institutional Trading of Korn Ferry

A number of hedge funds have recently made changes to their positions in KFY. JPMorgan Chase & Co. boosted its position in Korn Ferry by 193.9% during the third quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider’s stock worth $32,050,000 after purchasing an additional 281,024 shares during the period. Principal Financial Group Inc. grew its holdings in Korn Ferry by 5.7% in the 3rd quarter. Principal Financial Group Inc. now owns 271,969 shares of the business services provider’s stock valued at $20,463,000 after buying an additional 14,601 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Korn Ferry by 44.8% in the fourth quarter. Blue Trust Inc. now owns 3,204 shares of the business services provider’s stock valued at $216,000 after acquiring an additional 991 shares during the period. Geode Capital Management LLC increased its holdings in shares of Korn Ferry by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock worth $91,587,000 after purchasing an additional 28,014 shares during the period. Finally, Allianz Asset Management GmbH raised its position in shares of Korn Ferry by 14.2% in the fourth quarter. Allianz Asset Management GmbH now owns 753,414 shares of the business services provider’s stock valued at $50,818,000 after buying an additional 93,591 shares in the last quarter. 98.82% of the stock is owned by institutional investors and hedge funds.

Korn Ferry Company Profile

Korn Ferry, together with its subsidiaries, provides organizational consulting services worldwide. It operates through four segments: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search. The company provides executive search services to recruit board level, chief executive, other senior executive, and general management talent of organizations.