Zacks Investment Research upgraded shares of Kelly Services, Inc. (NASDAQ:KELYA) from a hold rating to a strong-buy rating in a research note released on Tuesday. They currently have $32.00 price target on the business services provider’s stock.

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. “

Several other equities analysts have also recently commented on the company. BidaskClub cut Kelly Services from a sell rating to a strong sell rating in a research report on Monday, August 14th. ValuEngine upgraded Kelly Services from a hold rating to a buy rating in a research report on Friday, August 11th.

Kelly Services (KELYA) opened at $28.73 on Tuesday. The firm has a market capitalization of $1,105.19, a price-to-earnings ratio of 14.80 and a beta of 1.06. Kelly Services has a 52-week low of $19.50 and a 52-week high of $29.30.

Kelly Services (NASDAQ:KELYA) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.27. Kelly Services had a return on equity of 7.25% and a net margin of 1.44%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. analysts expect that Kelly Services will post 2.04 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, November 21st. Kelly Services’s payout ratio is 15.71%.

In related news, CEO George S. Corona sold 3,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $28.06, for a total transaction of $84,180.00. Following the completion of the transaction, the chief executive officer now directly owns 193,473 shares in the company, valued at $5,428,852.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. 16.10% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its stake in Kelly Services by 22.1% during the second quarter. Russell Investments Group Ltd. now owns 167,958 shares of the business services provider’s stock worth $3,770,000 after purchasing an additional 30,412 shares during the last quarter. Chicago Equity Partners LLC lifted its stake in Kelly Services by 449.4% during the second quarter. Chicago Equity Partners LLC now owns 99,285 shares of the business services provider’s stock worth $2,229,000 after purchasing an additional 81,215 shares during the last quarter. Brandes Investment Partners LP bought a new stake in Kelly Services during the second quarter worth about $1,110,000. AQR Capital Management LLC lifted its stake in Kelly Services by 5.0% during the first quarter. AQR Capital Management LLC now owns 184,078 shares of the business services provider’s stock worth $4,024,000 after purchasing an additional 8,846 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Kelly Services by 7.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 445,130 shares of the business services provider’s stock worth $9,994,000 after purchasing an additional 31,020 shares during the last quarter. 66.63% of the stock is owned by hedge funds and other institutional investors.

Kelly Services Company Profile

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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