Wall Street Zen Downgrades Kelly Services (NASDAQ:KELYA) to Hold
by Sarita Garza · The Markets DailyKelly Services (NASDAQ:KELYA – Get Free Report) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.
A number of other brokerages have also commented on KELYA. Barrington Research lifted 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. Weiss Ratings raised Kelly Services from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.00.
Check Out Our Latest Stock Analysis on Kelly Services
Kelly Services Stock Performance
NASDAQ:KELYA opened at $16.48 on Friday. The stock’s 50-day moving average is $16.11 and its 200-day moving average is $12.54. Kelly Services has a 1-year low of $7.98 and a 1-year high of $17.75. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.08. The stock has a market cap of $572.35 million, a P/E ratio of -2.11, a price-to-earnings-growth ratio of 1.15 and a beta of 0.87.
Kelly Services (NASDAQ:KELYA – Get Free Report) last posted its earnings results on Thursday, August 6th. The business services provider reported $0.37 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $0.52 EPS. Equities research analysts anticipate that Kelly Services will post 1.1 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in Kelly Services by 19.9% in the second quarter. GAMMA Investing LLC now owns 6,153 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 1,023 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Kelly Services by 11.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 21,006 shares of the business services provider’s stock valued at $182,000 after acquiring an additional 2,156 shares in the last quarter. Strs Ohio raised its position in shares of Kelly Services by 3.4% during the first quarter. Strs Ohio now owns 66,100 shares of the business services provider’s stock worth $585,000 after purchasing an additional 2,200 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Kelly Services by 47.0% in the 2nd quarter. Versant Capital Management Inc now owns 7,351 shares of the business services provider’s stock worth $90,000 after purchasing an additional 2,351 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in Kelly Services in the 2nd quarter valued at $45,000. 76.34% of the stock is owned by institutional investors and hedge funds.
About Kelly Services
Kelly Services, Inc is a workforce solutions and staffing company that connects employers with workers across a range of industries and skill levels. Its services include temporary staffing, direct-hire and professional recruiting, workforce management, and outsourcing solutions designed to help organizations manage their talent needs.
The company serves sectors including education, engineering, science, technology, healthcare, office administration, light industrial work, and contact centers.