Kelly Services (NASDAQ:KELYA) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday, January 10th, BidAskClub reports.
A number of other brokerages have also commented on KELYA. Zacks Investment Research upgraded shares of Kelly Services from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 8th. TheStreet downgraded shares of Kelly Services from a “b” rating to a “c+” rating in a report on Wednesday, November 6th. ValuEngine raised shares of Kelly Services from a “sell” rating to a “hold” rating in a report on Friday, January 10th. Finally, Noble Financial set a $32.00 price objective on shares of Kelly Services and gave the stock a “buy” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $29.50.
NASDAQ KELYA traded down $0.20 during trading hours on Friday, reaching $17.14. 230,570 shares of the company’s stock traded hands, compared to its average volume of 161,139. Kelly Services has a 52-week low of $17.06 and a 52-week high of $28.91. The firm has a market cap of $694.61 million, a PE ratio of 9.58 and a beta of 0.81. The firm has a 50-day simple moving average of $21.37 and a 200 day simple moving average of $23.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 1.52.
Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Kelly Services had a net margin of 1.32% and a return on equity of 7.66%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the business posted $0.56 earnings per share. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. Sell-side analysts forecast that Kelly Services will post 2.08 EPS for the current fiscal year.
In other news, Director George S. Corona sold 8,066 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $22.15, for a total value of $178,661.90. Following the transaction, the director now directly owns 117,041 shares in the company, valued at $2,592,458.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George S. Corona sold 20,078 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $22.09, for a total transaction of $443,523.02. Following the sale, the director now directly owns 146,721 shares of the company’s stock, valued at $3,241,066.89. The disclosure for this sale can be found here. Insiders sold 89,184 shares of company stock worth $1,954,843 in the last 90 days. 7.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in Kelly Services by 3.5% in the 2nd quarter. BlackRock Inc. now owns 4,820,333 shares of the business services provider’s stock valued at $126,245,000 after purchasing an additional 162,155 shares in the last quarter. Northern Trust Corp grew its position in Kelly Services by 2.9% in the 2nd quarter. Northern Trust Corp now owns 415,204 shares of the business services provider’s stock valued at $10,874,000 after acquiring an additional 11,826 shares in the last quarter. Invesco Ltd. grew its position in Kelly Services by 47.5% in the 2nd quarter. Invesco Ltd. now owns 325,558 shares of the business services provider’s stock valued at $8,526,000 after acquiring an additional 104,852 shares in the last quarter. Morgan Stanley grew its position in Kelly Services by 420.6% in the 2nd quarter. Morgan Stanley now owns 279,999 shares of the business services provider’s stock valued at $7,333,000 after acquiring an additional 226,215 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Kelly Services by 7.1% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 248,680 shares of the business services provider’s stock valued at $6,513,000 after acquiring an additional 16,550 shares in the last quarter. 67.48% of the stock is currently owned by institutional investors and hedge funds.
Kelly Services Company Profile
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions, and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
