Kelly Services (NASDAQ:KELYA) Price Target Cut to $24.00 by Analysts at Barrington Research

Kelly Services (NASDAQ:KELYAGet Rating) had its target price lowered by investment analysts at Barrington Research from $25.00 to $24.00 in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Barrington Research’s price objective indicates a potential upside of 42.52% from the company’s current price. Barrington Research also issued estimates for Kelly Services’ FY2023 earnings at $2.03 EPS.

Several other brokerages also recently issued reports on KELYA. Noble Financial reduced their price target on shares of Kelly Services to $25.00 in a research report on Wednesday. StockNews.com initiated coverage on shares of Kelly Services in a research report on Wednesday, October 12th. They set a “hold” rating on the stock.

Kelly Services Stock Down 1.2 %

Shares of NASDAQ KELYA opened at $16.84 on Friday. The firm’s 50-day simple moving average is $15.16 and its 200 day simple moving average is $17.71. The company has a market cap of $639.08 million, a price-to-earnings ratio of 84.20, a price-to-earnings-growth ratio of 0.78 and a beta of 1.12. Kelly Services has a 12-month low of $13.41 and a 12-month high of $23.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in shares of Kelly Services by 131.6% in the 3rd quarter. Royal Bank of Canada now owns 2,121 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 1,205 shares during the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Kelly Services in the 3rd quarter valued at about $32,000. UBS Group AG increased its stake in shares of Kelly Services by 7,115.6% in the 2nd quarter. UBS Group AG now owns 2,309 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 2,277 shares during the last quarter. KBC Group NV bought a new stake in shares of Kelly Services in the 2nd quarter valued at about $61,000. Finally, Quantbot Technologies LP bought a new stake in shares of Kelly Services in the 2nd quarter valued at about $73,000. 77.36% of the stock is currently owned by institutional investors and hedge funds.

Kelly Services Company Profile

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Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and direct-hire services in the areas of office, professional, light industrial, and contact center specialties.

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