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 report released on Monday morning,Zacks.com reports.

KELYA has been the topic of a number of other research reports. Barrington Research cut their target price on Kelly Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Weiss Ratings restated a “sell (d)” rating on shares of Kelly Services in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded Kelly Services from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Kelly Services currently has a consensus rating of “Hold” and a consensus price target of $15.00.

Kelly Services Stock Performance

Shares of KELYA opened at $9.56 on Monday. Kelly Services has a 52 week low of $7.98 and a 52 week high of $14.94. The stock has a 50 day moving average price of $9.10 and a two-hundred day moving average price of $9.68. The firm has a market capitalization of $327.05 million, a P/E ratio of -1.31, a P/E/G ratio of 0.70 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.54 and a current ratio of 1.54.

Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, February 12th. The business services provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.29). Kelly Services had a positive return on equity of 4.05% and a negative net margin of 5.98%.The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Equities analysts forecast that Kelly Services will post 1.05 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, March 11th. Investors of record on Wednesday, February 25th were paid a $0.075 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $0.30 annualized dividend and a yield of 3.1%. Kelly Services’s dividend payout ratio is presently -4.13%.

Insider Activity at Kelly Services

In other news, Director James Christopher Hunt acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were acquired at an average price of $9.43 per share, for a total transaction of $94,300.00. Following the completion of the purchase, the director owned 25,976 shares in the company, valued at approximately $244,953.68. This trade represents a 62.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher D. Layden acquired 10,100 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The stock was purchased at an average price of $8.80 per share, for a total transaction of $88,880.00. Following the purchase, the chief executive officer owned 382,513 shares of the company’s stock, valued at $3,366,114.40. The trade was a 2.71% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 35,200 shares of company stock worth $327,137. 48.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kelly Services

Institutional investors have recently bought and sold shares of the company. Quarry LP lifted 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 purchasing an additional 1,249 shares during the last quarter. Versant Capital Management Inc lifted its stake in Kelly Services by 52.0% in the third quarter. Versant Capital Management Inc now owns 3,006 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 1,028 shares during the last quarter. GAMMA Investing LLC lifted its stake in Kelly Services by 175.4% in the third quarter. GAMMA Investing LLC now owns 3,385 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 2,156 shares during the last quarter. CANADA LIFE ASSURANCE Co purchased a new position in Kelly Services in the fourth quarter valued at approximately $30,000. Finally, Tower Research Capital LLC TRC lifted its stake in Kelly Services by 83.5% in the second 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 last quarter. Hedge funds and other institutional investors own 76.34% of the company’s stock.

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.