Kelly Services, Inc. (NASDAQ:KELYA) Stock Rating Lowered by BidaskClub
Kelly Services, Inc. (NASDAQ:KELYA) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Monday.
Other analysts have also recently issued research reports about the company. ValuEngine upgraded Kelly Services from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Kelly Services from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Friday. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Kelly Services in a research note on Friday, May 12th.
Shares of Kelly Services (NASDAQ:KELYA) traded up 1.16% on Monday, reaching $21.77. The company’s stock had a trading volume of 220,409 shares. Kelly Services has a 12-month low of $18.01 and a 12-month high of $24.70. The company’s 50-day moving average is $22.54 and its 200 day moving average is $22.16. The company has a market capitalization of $833.97 million, a price-to-earnings ratio of 6.52 and a beta of 0.98.
Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Wednesday, August 9th. The business services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 earnings per share. Equities analysts anticipate that Kelly Services will post $1.73 earnings per share for the current fiscal year.
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In related news, Director Donald R. Parfet sold 22,029 shares of the stock in a transaction that occurred 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 this link. Also, insider Antonina M. Ramsey sold 15,000 shares of the stock in a transaction that occurred 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.
Institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Kelly Services by 5.4% in the second quarter. State Street Corp now owns 791,849 shares of the business services provider’s stock worth $17,773,000 after buying an additional 40,773 shares during the last quarter. Gotham Asset Management LLC raised its position in shares of Kelly Services by 31.2% in the second quarter. Gotham Asset Management LLC now owns 42,163 shares of the business services provider’s stock worth $947,000 after buying an additional 10,017 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Kelly Services by 32.1% in the second quarter. Goldman Sachs Group Inc. now owns 67,929 shares of the business services provider’s stock worth $1,525,000 after buying an additional 16,504 shares during the last quarter. Zacks Investment Management purchased a new position in shares of Kelly Services during the second quarter worth approximately $623,000. Finally, Voya Investment Management LLC raised its position in shares of Kelly Services by 20.7% in the second quarter. Voya Investment Management LLC now owns 13,274 shares of the business services provider’s stock worth $298,000 after buying an additional 2,278 shares during the last quarter. 64.53% of the stock is owned by 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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