Kelly Services (NASDAQ:KELYA) Stock Passes Above 200-Day Moving Average – Should You Sell?

Shares of Kelly Services, Inc. (NASDAQ:KELYA) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.59 and traded as high as $15.76. Kelly Services shares last traded at $15.72, with a volume of 388,788 shares trading hands.

Analysts Set New Price Targets

KELYA has been the subject of a number of analyst reports. Barrington Research restated an “outperform” rating on shares of Kelly Services in a report on Monday, June 29th. Zacks Research upgraded shares of Kelly Services from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Weiss Ratings cut shares of Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Two 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, Kelly Services has a consensus rating of “Hold” and an average target price of $15.00.

Kelly Services Stock Performance

The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $12.68 and a 200 day moving average of $10.64. The firm has a market cap of $548.13 million, a price-to-earnings ratio of -2.08, a PEG ratio of 1.19 and a beta of 0.84.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. As a group, equities research analysts expect that Kelly Services, Inc. will post 1.01 EPS for the current fiscal year.

Kelly Services Dividend Announcement

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

Insider Transactions at Kelly Services

In other Kelly Services 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 directly owned 82,355 shares in the company, valued at $805,431.90. This represents a 26.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kelly Services

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in Kelly Services by 1,328.6% in the third quarter. JPMorgan Chase & Co. now owns 412,211 shares of the business services provider’s stock worth $5,408,000 after purchasing an additional 383,357 shares in the last quarter. JB Capital Partners LP raised its stake in Kelly Services by 76.3% during the fourth quarter. JB Capital Partners LP now owns 207,160 shares of the business services provider’s stock valued at $1,823,000 after buying an additional 89,674 shares in the last quarter. RBF Capital LLC bought a new position in Kelly Services during the 4th quarter worth approximately $1,161,000. Fifth Third Bancorp bought a new position in Kelly Services during the 1st quarter worth approximately $4,371,000. Finally, Mangrove Partners IM LLC acquired a new position in shares of Kelly Services in the 4th quarter worth approximately $619,000. Institutional investors and hedge funds 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.