Kelly Services (NASDAQ:KELYA) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of Kelly Services, Inc. (NASDAQ:KELYA) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.46 and traded as high as $12.16. Kelly Services shares last traded at $11.77, with a volume of 308,498 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Zacks Research raised Kelly Services from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Weiss Ratings lowered Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Barrington Research reduced their price objective on Kelly Services from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, February 13th. Finally, Wall Street Zen upgraded Kelly Services from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Kelly Services currently has an average rating of “Hold” and a consensus target price of $15.00.

Kelly Services Price Performance

The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.13. The firm has a market cap of $408.07 million, a PE ratio of -1.55, a price-to-earnings-growth ratio of 0.89 and a beta of 0.85. The stock has a 50 day simple moving average of $9.84 and a 200-day simple moving average of $9.46.

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

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, May 18th. Kelly Services’s dividend payout ratio is presently -3.95%.

Insiders Place Their Bets

In related news, CEO Christopher D. Layden acquired 10,100 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was acquired at an average price of $8.80 per share, with a total value of $88,880.00. Following the acquisition, the chief executive officer directly owned 382,513 shares of the company’s stock, valued at approximately $3,366,114.40. This trade represents a 2.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Vanessa Peterson Williams sold 29,999 shares of the stock in a transaction dated 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 of the company’s stock, valued at $805,431.90. This trade represents a 26.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC boosted its holdings in shares of Kelly Services by 20.8% during the 1st quarter. Empowered Funds LLC now owns 155,590 shares of the business services provider’s stock valued at $1,377,000 after purchasing an additional 26,832 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Kelly Services by 34.5% during the 1st quarter. Quantinno Capital Management LP now owns 189,010 shares of the business services provider’s stock valued at $1,673,000 after purchasing an additional 48,431 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Kelly Services by 8.0% during the 1st quarter. Lazard Asset Management LLC now owns 102,208 shares of the business services provider’s stock valued at $905,000 after purchasing an additional 7,561 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Kelly Services by 18.9% during the 1st quarter. Renaissance Technologies LLC now owns 113,302 shares of the business services provider’s stock valued at $1,003,000 after purchasing an additional 17,994 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Kelly Services by 13.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 36,579 shares of the business services provider’s stock valued at $324,000 after purchasing an additional 4,430 shares during the last quarter. 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.