Kelly Services (NASDAQ:KELYA) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Kelly Services (NASDAQ:KELYA) from a strong sell rating to a hold rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Kelly Services in a research note on Wednesday, October 8th. Wall Street Zen downgraded Kelly Services from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Barrington Research dropped their price objective on Kelly Services from $25.00 to $16.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.00.

Kelly Services Stock Up 2.9%

Shares of NASDAQ KELYA traded up $0.29 during mid-day trading on Monday, reaching $10.38. 217,077 shares of the company traded hands, compared to its average volume of 423,772. The company’s fifty day moving average is $8.83 and its two-hundred day moving average is $11.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.59 and a current ratio of 1.59. Kelly Services has a fifty-two week low of $7.98 and a fifty-two week high of $15.11. The stock has a market cap of $366.82 million, a PE ratio of -2.32, a price-to-earnings-growth ratio of 0.42 and a beta of 0.79.

Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, November 6th. The business services provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.24). Kelly Services had a positive return on equity of 5.74% and a negative net margin of 3.58%.The company had revenue of $935.00 million for the quarter, compared to the consensus estimate of $972.80 million. On average, analysts expect that Kelly Services will post 2.45 earnings per share for the current year.

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 19th were paid a $0.075 dividend. The ex-dividend date was Wednesday, November 19th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.9%. Kelly Services’s dividend payout ratio is currently -6.70%.

Institutional Trading of Kelly Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KELYA. Quarry LP lifted its stake in Kelly Services by 173.2% during the third quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock worth $26,000 after purchasing an additional 1,249 shares during the period. Versant Capital Management Inc lifted its position in shares of Kelly Services by 52.0% during the 3rd quarter. Versant Capital Management Inc now owns 3,006 shares of the business services provider’s stock worth $39,000 after buying an additional 1,028 shares during the period. GAMMA Investing LLC boosted its stake in Kelly Services by 175.4% in the 3rd quarter. GAMMA Investing LLC now owns 3,385 shares of the business services provider’s stock valued at $44,000 after buying an additional 2,156 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Kelly Services by 83.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider’s stock valued at $51,000 after buying an additional 1,967 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Kelly Services by 46.8% in the third quarter. PNC Financial Services Group Inc. now owns 4,944 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 1,577 shares during the period. Institutional investors own 76.34% of the company’s stock.

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.