Kelly Services (NASDAQ:KELYA) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Kelly Services (NASDAQ:KELYA) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Other analysts have also recently issued reports about the stock. Barrington Research decreased their price target on shares of Kelly Services from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Friday. Weiss Ratings reiterated a “sell (d)” rating on shares of Kelly Services in a research report on Thursday, January 22nd. Finally, Zacks Research raised shares of Kelly Services from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kelly Services currently has a consensus rating of “Hold” and an average target price of $15.00.

Kelly Services Stock Performance

Shares of KELYA stock opened at $9.79 on Friday. The company has a market capitalization of $345.98 million, a price-to-earnings ratio of -1.35, a P/E/G ratio of 0.43 and a beta of 0.79. Kelly Services has a 1-year low of $7.98 and a 1-year high of $14.94. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $9.58 and its 200-day simple moving average is $11.17.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Thursday, February 12th. The business services provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.29). Kelly Services had a positive return on equity of 4.05% and a negative net margin of 5.98%.The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. On average, sell-side analysts predict that Kelly Services will post 2.45 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, February 25th. Kelly Services’s payout ratio is presently -4.13%.

Hedge Funds Weigh In On Kelly Services

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Kelly Services by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,071,363 shares of the business services provider’s stock valued at $27,176,000 after acquiring an additional 151,655 shares during the last quarter. Boston Partners lifted its holdings in Kelly Services by 0.4% in the 3rd quarter. Boston Partners now owns 2,051,499 shares of the business services provider’s stock worth $26,908,000 after purchasing an additional 9,020 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Kelly Services by 39.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,908,900 shares of the business services provider’s stock worth $16,798,000 after purchasing an additional 544,309 shares during the period. Private Management Group Inc. grew its holdings in Kelly Services by 101.8% during the fourth quarter. Private Management Group Inc. now owns 1,268,649 shares of the business services provider’s stock valued at $11,164,000 after purchasing an additional 640,076 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Kelly Services by 8.5% in the first quarter. Millennium Management LLC now owns 1,188,264 shares of the business services provider’s stock valued at $15,649,000 after purchasing an additional 93,026 shares during the period. 76.34% of the stock is currently owned by institutional investors.

Kelly Services Company Profile

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.