Kelly Services (NASDAQ:KELYA) Reaches New 52-Week High – Should You Buy?

Kelly Services, Inc. (NASDAQ:KELYA)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $16.18 and last traded at $16.1530, with a volume of 16270 shares changing hands. The stock had previously closed at $15.72.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KELYA shares. Weiss Ratings lowered shares of Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Barrington Research reaffirmed an “outperform” rating on shares of Kelly Services in a research report on Monday, June 29th. Finally, Zacks Research upgraded shares of Kelly Services from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.00.

Kelly Services Price Performance

The stock has a 50 day moving average price of $12.55 and a two-hundred day moving average price of $10.59. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.59 and a current ratio of 1.59. The company has a market capitalization of $560.58 million, a PE ratio of -2.14, a P/E/G ratio of 1.15 and a beta of 0.84.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.04). Kelly Services had a negative net margin of 6.44% and a positive return on equity of 3.07%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Equities analysts forecast that Kelly Services, Inc. will post 1.01 earnings per share for the current year.

Kelly Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th were paid a $0.075 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.30 dividend on an annualized basis and a yield of 1.9%. Kelly Services’s payout ratio is -3.95%.

Insider Buying and Selling

In other news, EVP Vanessa Peterson Williams sold 29,999 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $9.78, for a total transaction of $293,390.22. Following the transaction, the executive vice president owned 82,355 shares in the company, valued at $805,431.90. This represents a 26.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kelly Services

A number of large investors have recently bought and sold shares of KELYA. AQR Capital Management LLC increased its position in Kelly Services by 24.3% during the first quarter. AQR Capital Management LLC now owns 373,269 shares of the business services provider’s stock worth $4,916,000 after buying an additional 73,040 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Kelly Services by 8.5% during the 1st quarter. Millennium Management LLC now owns 1,188,264 shares of the business services provider’s stock valued at $15,649,000 after acquiring an additional 93,026 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Kelly Services by 4.2% during the 1st quarter. Empowered Funds LLC now owns 214,829 shares of the business services provider’s stock valued at $2,829,000 after acquiring an additional 8,562 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Kelly Services by 16.0% in the 2nd quarter. Quantbot Technologies LP now owns 29,357 shares of the business services provider’s stock valued at $344,000 after acquiring an additional 4,043 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Kelly Services by 1.5% in the 2nd quarter. Invesco Ltd. now owns 472,191 shares of the business services provider’s stock valued at $5,529,000 after acquiring an additional 6,876 shares in the last quarter. 76.34% of the stock is currently owned by 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.