Kelly Services, Inc. (KELYA) Rating Lowered to Hold at Zacks Investment Research
Kelly Services, Inc. (NASDAQ:KELYA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “KELLY SERVICES, INC. provides temporary office clerical, marketing, professional, technical, light industrial, home care services, management services and other business services to a diversified group of customers through offices located in major cities of the United States, Australia, Canada, Denmark, France, Ireland, Italy, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Russia, Spain, Switzerland and United Kingdom. Kelly Temporary Services provides office clerical, marketing, professional, technical, semi-skilled light industrial and management services. “
Other equities analysts have also issued research reports about the company. BidaskClub lowered Kelly Services from a “sell” rating to a “strong sell” rating in a research note on Monday. ValuEngine upgraded Kelly Services from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Northcoast Research reiterated a “neutral” rating on shares of Kelly Services in a research report on Friday, May 12th.
Kelly Services (NASDAQ KELYA) opened at 21.77 on Tuesday. The firm has a market capitalization of $833.97 million, a price-to-earnings ratio of 6.52 and a beta of 0.98. Kelly Services has a one year low of $18.01 and a one year high of $24.70. The stock’s 50 day moving average price is $22.54 and its 200-day moving average price is $22.16.
Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Wednesday, August 9th. The business services provider reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.24. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Kelly Services had a return on equity of 6.88% and a net margin of 2.58%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the firm posted $0.29 EPS. On average, equities research analysts expect that Kelly Services will post $1.73 EPS for the current fiscal year.
In other Kelly Services news, Director Donald R. Parfet sold 22,029 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $23.10, for a total transaction of $508,869.90. Following the completion of the transaction, the director now directly owns 23,520 shares of the company’s stock, valued at $543,312. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Antonina M. Ramsey sold 15,000 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $24.13, for a total value of $361,950.00. Following the transaction, the insider now directly owns 47,678 shares of the company’s stock, valued at $1,150,470.14. The disclosure for this sale can be found here. Corporate insiders own 13.30% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in Kelly Services by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 597,624 shares of the business services provider’s stock valued at $13,064,000 after buying an additional 10,693 shares in the last quarter. Capital One National Association increased its stake in shares of Kelly Services by 1.0% in the first quarter. Capital One National Association now owns 21,081 shares of the business services provider’s stock worth $461,000 after buying an additional 218 shares during the period. LSV Asset Management increased its stake in shares of Kelly Services by 21.8% in the first quarter. LSV Asset Management now owns 801,261 shares of the business services provider’s stock worth $17,515,000 after buying an additional 143,261 shares during the period. Eqis Capital Management Inc. increased its stake in shares of Kelly Services by 3.3% in the first quarter. Eqis Capital Management Inc. now owns 10,937 shares of the business services provider’s stock worth $239,000 after buying an additional 347 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in shares of Kelly Services by 5.7% in the first quarter. Great West Life Assurance Co. Can now owns 43,825 shares of the business services provider’s stock worth $956,000 after buying an additional 2,350 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.
About Kelly Services
Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).
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