Korn Ferry (NYSE:KFY) Raised to Buy at Zacks Investment Research

Korn Ferry (NYSE:KFY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, March 9th. The brokerage presently has a $49.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price objective indicates a potential downside of 5.51% from the stock’s current price.

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. “

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Several other brokerages have also recently issued reports on KFY. ValuEngine raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Robert W. Baird reissued a “hold” rating and issued a $45.00 price target on shares of Korn Ferry in a research note on Thursday, December 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Korn Ferry presently has a consensus rating of “Buy” and a consensus target price of $43.80.

NYSE KFY traded up $1.17 on Friday, reaching $51.86. 457,151 shares of the company’s stock traded hands, compared to its average volume of 411,918. The company has a market capitalization of $2,915.50, a PE ratio of 23.15 and a beta of 1.20. Korn Ferry has a fifty-two week low of $29.84 and a fifty-two week high of $52.17. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.91 and a quick ratio of 1.91.

Korn Ferry (NYSE:KFY) last released its earnings results on Tuesday, March 6th. The business services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. The business had revenue of $447.60 million during the quarter, compared to analysts’ expectations of $414.54 million. Korn Ferry had a net margin of 6.83% and a return on equity of 12.72%. The company’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 earnings per share. research analysts expect that Korn Ferry will post 2.63 earnings per share for the current year.

In other news, Director Angel R. Martinez acquired 2,000 shares of Korn Ferry stock in a transaction dated Friday, March 23rd. The shares were acquired at an average cost of $50.30 per share, for a total transaction of $100,600.00. Following the acquisition, the director now owns 5,030 shares of the company’s stock, valued at $253,009. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Debra J. Perry sold 5,520 shares of the stock in a transaction on Friday, March 16th. The shares were sold at an average price of $51.00, for a total transaction of $281,520.00. Following the completion of the transaction, the director now directly owns 26,452 shares in the company, valued at $1,349,052. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hennessy Advisors Inc. purchased a new position in Korn Ferry during the 4th quarter worth $30,340,000. Hood River Capital Management LLC purchased a new position in Korn Ferry during the 4th quarter worth $17,988,000. Clark Capital Management Group Inc. grew its position in Korn Ferry by 558.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 362,058 shares of the business services provider’s stock worth $14,982,000 after purchasing an additional 307,086 shares during the last quarter. Ameriprise Financial Inc. grew its position in Korn Ferry by 77.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 628,769 shares of the business services provider’s stock worth $24,793,000 after purchasing an additional 274,447 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in Korn Ferry by 880.8% during the 4th quarter. Acadian Asset Management LLC now owns 241,033 shares of the business services provider’s stock worth $9,976,000 after purchasing an additional 216,459 shares during the last quarter. 88.61% of the stock is currently owned by hedge funds and other institutional investors.

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About Korn Ferry

Korn/Ferry International, together with its subsidiaries, provides talent management solutions worldwide. It operates through three segments: Executive Search, Hay Group, and Futurestep. The company provides executive recruitment services that are used 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 industries.

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