Kelly Services (NASDAQ:KELYA) Downgraded to “Strong Sell” Rating by Zacks Research

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

Other analysts also recently issued reports about the company. Weiss Ratings restated a “sell (d)” rating on shares of Kelly Services in a research report on Thursday, January 22nd. Barrington Research dropped their target price on shares of Kelly Services from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, February 13th. Finally, Wall Street Zen downgraded shares of Kelly Services from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.00.

Kelly Services Stock Performance

NASDAQ KELYA opened at $9.65 on Wednesday. The firm’s 50 day simple moving average is $9.63 and its 200 day simple moving average is $11.13. The firm has a market capitalization of $341.03 million, a price-to-earnings ratio of -1.33, a P/E/G ratio of 0.72 and a beta of 0.79. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.10. Kelly Services has a 1 year low of $7.98 and a 1 year high of $14.94.

Kelly Services (NASDAQ:KELYA) last released its earnings results on Thursday, February 12th. The business services provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.29). The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Kelly Services had a positive return on equity of 4.05% and a negative net margin of 5.98%. As a group, research analysts expect that Kelly Services will post 2.45 earnings per share for the current fiscal year.

Institutional Trading of Kelly Services

A number of institutional investors have recently added to or reduced their stakes in KELYA. CSM Advisors LLC bought a new position in shares of Kelly Services in the second quarter worth approximately $4,807,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Kelly Services in the 2nd quarter worth $727,000. Creative Planning raised its position in shares of Kelly Services by 56.7% during the 2nd quarter. Creative Planning now owns 90,287 shares of the business services provider’s stock valued at $1,057,000 after buying an additional 32,669 shares in the last quarter. LSV Asset Management raised its position in Kelly Services by 11.6% during the second quarter. LSV Asset Management now owns 561,329 shares of the business services provider’s stock valued at $6,573,000 after purchasing an additional 58,200 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Kelly Services in the 2nd quarter worth about $1,349,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

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.