Zacks Investment Research Upgrades Kelly Services (KELYA) to “Buy”
Kelly Services (NASDAQ:KELYA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm currently has a $27.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 9.71% from the company’s current price.
According to Zacks, “Kelly Services, Inc. is a global leader of providing workforce solutions. Kelly Services, Inc. and its subsidiaries, offer a comprehensive array of outsourcing and consulting services as well as world-class staffing on a temporary, temporary-to-hire, and direct-hire basis. The company 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 research analysts also recently commented on KELYA. BidaskClub raised Kelly Services from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. ValuEngine raised Kelly Services from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Kelly Services currently has a consensus rating of “Buy” and an average target price of $32.00.
Kelly Services (NASDAQ:KELYA) last announced its earnings results on Wednesday, February 13th. The business services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. Kelly Services had a return on equity of 7.45% and a net margin of 1.17%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the business posted $0.80 earnings per share. Kelly Services’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kelly Services will post 2.3 EPS for the current year.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Kelly Services by 4.0% during the fourth quarter. BlackRock Inc. now owns 4,669,672 shares of the business services provider’s stock valued at $95,635,000 after buying an additional 179,359 shares during the period. Vanguard Group Inc. raised its position in Kelly Services by 4.1% during the third quarter. Vanguard Group Inc. now owns 3,093,327 shares of the business services provider’s stock valued at $74,333,000 after buying an additional 120,713 shares during the period. Vanguard Group Inc raised its position in Kelly Services by 4.1% during the third quarter. Vanguard Group Inc now owns 3,093,327 shares of the business services provider’s stock valued at $74,333,000 after buying an additional 120,713 shares during the period. Dimensional Fund Advisors LP raised its position in Kelly Services by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,972,357 shares of the business services provider’s stock valued at $71,426,000 after buying an additional 17,856 shares during the period. Finally, LSV Asset Management raised its position in Kelly Services by 1.2% during the fourth quarter. LSV Asset Management now owns 1,191,223 shares of the business services provider’s stock valued at $24,396,000 after buying an additional 13,600 shares during the period. 67.04% of the stock is currently owned by hedge funds and other institutional investors.
About Kelly Services
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions (GTS), and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
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