Barrington Research Reiterates Outperform Rating for Kelly Services (NASDAQ:KELYA)

Kelly Services (NASDAQ:KELYA)‘s stock had its “outperform” rating reiterated by equities research analysts at Barrington Research in a note issued to investors on Friday,Benzinga reports. They presently have a $16.00 target price on the business services provider’s stock. Barrington Research’s price objective indicates a potential upside of 44.01% from the stock’s current price.

Several other research analysts have also commented on KELYA. Wall Street Zen lowered Kelly Services from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Zacks Research upgraded Kelly Services from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Kelly Services in a research report on Thursday, January 22nd. Two equities 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, the company has a consensus rating of “Hold” and a consensus target price of $16.00.

Kelly Services Stock Up 2.9%

Shares of NASDAQ:KELYA opened at $11.11 on Friday. The stock has a 50-day simple moving average of $9.40 and a 200-day simple moving average of $11.31. The stock has a market capitalization of $392.63 million, a P/E ratio of -2.48, a PEG ratio of 0.49 and a beta of 0.79. Kelly Services has a 1 year low of $7.98 and a 1 year high of $15.11. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.59 and a current ratio of 1.59.

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

Institutional Trading of Kelly Services

Several institutional investors have recently added to or reduced their stakes in the stock. Private Management Group Inc. acquired a new position in Kelly Services in the third quarter worth about $8,247,000. CSM Advisors LLC bought a new position in Kelly Services during the 2nd quarter worth approximately $4,807,000. JPMorgan Chase & Co. grew its position in shares of Kelly Services by 1,328.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 412,211 shares of the business services provider’s stock worth $5,408,000 after acquiring an additional 383,357 shares in the last quarter. Bank of America Corp DE grew its position in shares of Kelly Services by 186.9% in the 3rd quarter. Bank of America Corp DE now owns 482,702 shares of the business services provider’s stock worth $6,333,000 after acquiring an additional 314,447 shares in the last quarter. Finally, Kennedy Capital Management LLC increased its holdings in shares of Kelly Services by 77.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 687,120 shares of the business services provider’s stock valued at $9,015,000 after acquiring an additional 300,178 shares during the last quarter. 76.34% of the stock is 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.