Kelly Services (NASDAQ:KELYA) Upgraded at Zacks Research

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

KELYA has been the subject of a number of other reports. Wall Street Zen lowered Kelly Services from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Barrington Research lowered their price target on shares of Kelly Services from $25.00 to $16.00 and set an “outperform” rating for the company in a research report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Kelly Services in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Kelly Services currently has a consensus rating of “Hold” and a consensus target price of $16.00.

Kelly Services Stock Performance

Shares of Kelly Services stock opened at $10.32 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.59 and a quick ratio of 1.59. The firm has a 50 day simple moving average of $8.80 and a 200 day simple moving average of $11.55. Kelly Services has a fifty-two week low of $7.98 and a fifty-two week high of $15.11. The firm has a market cap of $364.71 million, a P/E ratio of -2.30, a P/E/G ratio of 0.45 and a beta of 0.79.

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

Kelly Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Wednesday, November 19th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $0.30 annualized dividend and a yield of 2.9%. Kelly Services’s dividend payout ratio (DPR) is presently -6.70%.

Institutional Investors Weigh In On Kelly Services

Several hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of Kelly Services by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 11,949 shares of the business services provider’s stock worth $140,000 after purchasing an additional 905 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in Kelly Services by 8.8% during the 4th quarter. Pallas Capital Advisors LLC now owns 12,543 shares of the business services provider’s stock worth $110,000 after buying an additional 1,017 shares during the period. Versant Capital Management Inc lifted its holdings in Kelly Services by 52.0% during the third quarter. Versant Capital Management Inc now owns 3,006 shares of the business services provider’s stock worth $39,000 after acquiring an additional 1,028 shares in the last quarter. Quarry LP grew its stake in Kelly Services by 173.2% in the third quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 1,249 shares during the period. Finally, Man Group plc increased its holdings in shares of Kelly Services by 6.6% in the second quarter. Man Group plc now owns 24,780 shares of the business services provider’s stock worth $290,000 after acquiring an additional 1,532 shares in the last quarter. 76.34% of the stock is currently owned by institutional investors and hedge funds.

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.