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

Korn Ferry (NYSE:KFY) had its price objective cut by Truist Financial from $84.00 to $80.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Truist Financial’s target price indicates a potential upside of 27.49% from the stock’s current price.

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

Korn Ferry Price Performance

Shares of KFY stock traded down $1.70 during trading hours on Tuesday, reaching $62.75. The company’s stock had a trading volume of 38,638 shares, compared to its average volume of 373,698. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. Korn Ferry has a fifty-two week low of $59.44 and a fifty-two week high of $80.64. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 13.41 and a beta of 1.40. The firm’s 50 day simple moving average is $65.80 and its 200-day simple moving average is $69.69.

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

Institutional Investors Weigh In On Korn Ferry

Institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Korn Ferry by 59.3% in the third quarter. FMR LLC now owns 4,608 shares of the business services provider’s stock valued at $347,000 after acquiring an additional 1,716 shares during the last quarter. HighTower Advisors LLC grew its holdings in Korn Ferry by 17.3% during the 3rd quarter. HighTower Advisors LLC now owns 5,430 shares of the business services provider’s stock worth $407,000 after acquiring an additional 800 shares during the period. MML Investors Services LLC bought a new position in shares of Korn Ferry in the 3rd quarter worth about $209,000. Barclays PLC boosted its position in shares of Korn Ferry by 129.0% during the 3rd quarter. Barclays PLC now owns 239,937 shares of the business services provider’s stock valued at $18,053,000 after purchasing an additional 135,148 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in 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. Institutional investors own 98.82% of the company’s stock.

About Korn Ferry

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.