Kelly Services (NASDAQ:KELYA) Stock Price Breaks Above 50-Day Moving Average – What’s Next?

Kelly Services, Inc. (NASDAQ:KELYA) passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $16.30 and traded as high as $16.61. Kelly Services shares last traded at $16.59, with a volume of 158,312 shares changing hands.

Analysts Set New Price Targets

KELYA has been the subject of several research reports. Wall Street Zen upgraded shares of Kelly Services from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Weiss Ratings raised shares of Kelly Services from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Finally, Barrington Research increased their price target on shares of Kelly Services from $15.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Kelly Services Stock Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $576.17 million, a P/E ratio of -2.12, a price-to-earnings-growth ratio of 1.16 and a beta of 0.88. The company has a fifty day moving average of $16.30 and a two-hundred day moving average of $12.50.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.19. Kelly Services had a negative net margin of 6.73% and a positive return on equity of 2.69%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm posted $0.52 earnings per share. On average, equities analysts anticipate that Kelly Services, Inc. will post 1.10 EPS for the current year.

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Wednesday, August 19th. Kelly Services’s dividend payout ratio (DPR) is -3.84%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in KELYA. Chicago Partners Investment Group LLC bought a new stake in Kelly Services in the third quarter worth $169,000. Signaturefd LLC raised its position in Kelly Services by 165.4% during the third quarter. Signaturefd LLC now owns 1,754 shares of the business services provider’s stock worth $28,000 after acquiring an additional 1,093 shares during the last quarter. USA Financial Formulas purchased a new stake in Kelly Services during the third quarter worth approximately $41,000. GAMMA Investing LLC raised its position in shares of Kelly Services by 25.0% during the 3rd quarter. GAMMA Investing LLC now owns 7,690 shares of the business services provider’s stock valued at $125,000 after acquiring an additional 1,537 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in Kelly Services in the second quarter worth approximately $163,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

About Kelly Services

Kelly Services, Inc is a workforce solutions company that provides staffing, recruiting, and talent-management services to employers. The company helps organizations address temporary, contract, direct-hire, and outsourced workforce needs across a range of industries and skill levels.

Its offerings include professional and industrial staffing, office and administrative support, science and engineering talent, education staffing, contact-center solutions, and workforce outsourcing and consulting.