Kelly Services (NASDAQ:KELYA) Stock Rating Upgraded by Zacks Research

Kelly Services (NASDAQ:KELYA) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

KELYA has been the topic of several other reports. Barrington Research decreased their price objective on shares of Kelly Services from $25.00 to $16.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kelly Services in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Kelly Services from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.00.

Kelly Services Price Performance

Shares of KELYA traded up $0.24 during trading hours on Monday, reaching $10.33. The company had a trading volume of 250,632 shares, compared to its average volume of 427,100. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.11. Kelly Services has a 12-month low of $7.98 and a 12-month high of $15.11. The firm has a 50 day simple moving average of $8.83 and a 200-day simple moving average of $11.56. The company has a market capitalization of $364.88 million, a price-to-earnings ratio of -2.31, a PEG ratio of 0.42 and a beta of 0.79.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Thursday, November 6th. The business services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.24). The company had revenue of $935.00 million for the quarter, compared to analyst estimates of $972.80 million. Kelly Services had a positive return on equity of 5.74% and a negative net margin of 3.58%. Research analysts expect that Kelly Services will post 2.45 earnings per share for the current year.

Institutional Trading of Kelly Services

Institutional investors have recently made changes to their positions in the stock. Quarry LP grew its position in Kelly Services by 173.2% during the third quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 1,249 shares during the period. Versant Capital Management Inc grew its holdings in shares of Kelly Services by 52.0% during the 3rd quarter. Versant Capital Management Inc now owns 3,006 shares of the business services provider’s stock worth $39,000 after purchasing an additional 1,028 shares during the period. GAMMA Investing LLC increased its position in Kelly Services by 175.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,385 shares of the business services provider’s stock worth $44,000 after purchasing an additional 2,156 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Kelly Services by 83.5% in the second quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider’s stock valued at $51,000 after buying an additional 1,967 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Kelly Services by 46.8% during the third quarter. PNC Financial Services Group Inc. now owns 4,944 shares of the business services provider’s stock valued at $65,000 after buying an additional 1,577 shares in the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.

About Kelly Services

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.