Kelly Services (NASDAQ:KELYA) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Kelly Services (NASDAQ:KELYA) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

Several other research analysts have also issued reports on the company. Barrington Research upped their target price on Kelly Services from $15.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Weiss Ratings raised Kelly Services from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Kelly Services Trading Up 0.4%

NASDAQ:KELYA opened at $16.54 on Friday. The stock has a market capitalization of $574.43 million, a price-to-earnings ratio of -2.12, a PEG ratio of 1.15 and a beta of 0.87. Kelly Services has a 52 week low of $7.98 and a 52 week high of $17.75. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $16.13 and a 200 day moving average of $12.59.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.19. Kelly Services had a negative net margin of 6.73% and a positive return on equity of 2.69%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company earned $0.52 earnings per share. As a group, sell-side analysts anticipate that Kelly Services will post 1.1 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were given a dividend of $0.0750 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.30 dividend on an annualized basis and a yield of 1.8%. Kelly Services’s payout ratio is currently -3.84%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Kelly Services by 19.9% in the 2nd quarter. GAMMA Investing LLC now owns 6,153 shares of the business services provider’s stock valued at $76,000 after buying an additional 1,023 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Kelly Services by 11.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 21,006 shares of the business services provider’s stock worth $182,000 after acquiring an additional 2,156 shares during the period. Strs Ohio grew its holdings in Kelly Services by 3.4% during the first quarter. Strs Ohio now owns 66,100 shares of the business services provider’s stock worth $585,000 after acquiring an additional 2,200 shares during the period. Versant Capital Management Inc raised its position in Kelly Services by 47.0% during the second quarter. Versant Capital Management Inc now owns 7,351 shares of the business services provider’s stock valued at $90,000 after acquiring an additional 2,351 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in Kelly Services during the second quarter valued at approximately $45,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

Kelly Services Company Profile

Kelly Services, Inc is a workforce solutions and staffing company that connects employers with workers across a range of industries and skill levels. Its services include temporary staffing, direct-hire and professional recruiting, workforce management, and outsourcing solutions designed to help organizations manage their talent needs.

The company serves sectors including education, engineering, science, technology, healthcare, office administration, light industrial work, and contact centers.