Kelly Services (NASDAQ:KELYA) Price Target Raised to $20.00

Kelly Services (NASDAQ:KELYA) had its target price upped by equities researchers at Barrington Research from $15.00 to $20.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Barrington Research’s price objective would indicate a potential upside of 31.67% from the company’s previous close.

A number of other research analysts have also weighed in on KELYA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kelly Services in a research note on Friday. Zacks Research upgraded shares of Kelly Services from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.00.

Kelly Services Stock Performance

NASDAQ:KELYA opened at $15.19 on Monday. The firm has a market capitalization of $526.64 million, a P/E ratio of -1.94, a P/E/G ratio of 1.15 and a beta of 0.83. Kelly Services has a twelve month low of $7.98 and a twelve month high of $17.75. The company has a fifty day moving average of $13.37 and a 200-day moving average of $10.94. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.08.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.19. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Kelly Services had a negative net margin of 6.73% and a positive return on equity of 2.69%. During the same period in the previous year, the firm posted $0.52 earnings per share. As a group, sell-side analysts anticipate that Kelly Services will post 1.01 EPS for the current year.

Insider Transactions at Kelly Services

In other news, EVP Vanessa Peterson Williams sold 29,999 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $9.78, for a total value of $293,390.22. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kelly Services

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP boosted its stake in shares of Kelly Services by 173.2% in the 3rd quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock worth $26,000 after buying an additional 1,249 shares during the last quarter. CANADA LIFE ASSURANCE Co bought a new stake in Kelly Services during the fourth quarter worth $30,000. Meeder Asset Management Inc. purchased a new position in Kelly Services in the fourth quarter worth $42,000. Tower Research Capital LLC TRC grew 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 purchasing an additional 1,967 shares during the period. Finally, State of Alaska Department of Revenue increased its position in shares of Kelly Services by 284.2% during the 4th quarter. State of Alaska Department of Revenue now owns 7,220 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 5,341 shares during the last quarter. 76.34% of the stock is 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.