Kelly Services, Inc. (NASDAQ:KELYA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday. The brokerage presently has a $32.00 price target on the business services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.36% from the company’s current price.
According to Zacks, “KELLY SERVICES, INC. provides temporary office clerical, marketing, professional, technical, light industrial, home care services, management services and other business services to a diversified group of customers through offices located in major cities of the United States, Australia, Canada, Denmark, France, Ireland, Italy, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Russia, Spain, Switzerland and United Kingdom. Kelly Temporary Services provides office clerical, marketing, professional, technical, semi-skilled light industrial and management services. “
KELYA has been the topic of a number of other reports. BidaskClub cut shares of Kelly Services from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. ValuEngine cut shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Monday, July 17th.
Shares of Kelly Services (NASDAQ KELYA) traded down $0.37 during trading hours on Tuesday, reaching $28.48. 198,100 shares of the company’s stock traded hands, compared to its average volume of 124,940. Kelly Services has a 52-week low of $19.50 and a 52-week high of $29.30. The company has a market cap of $1,105.19, a PE ratio of 14.80 and a beta of 1.06.
Kelly Services (NASDAQ:KELYA) last issued its earnings results on Wednesday, November 8th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.27. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Kelly Services had a net margin of 1.44% and a return on equity of 7.25%. Kelly Services’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. research analysts expect that Kelly Services will post 2.04 earnings per share for the current fiscal year.
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In other news, CEO George S. Corona sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $28.06, for a total transaction of $84,180.00. Following the completion of the sale, the chief executive officer now owns 193,473 shares of the company’s stock, valued at approximately $5,428,852.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 16.10% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in Kelly Services by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,945,394 shares of the business services provider’s stock valued at $73,900,000 after purchasing an additional 9,868 shares during the last quarter. Vanguard Group Inc. lifted its stake in Kelly Services by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,720,771 shares of the business services provider’s stock valued at $61,081,000 after purchasing an additional 9,394 shares during the last quarter. LSV Asset Management lifted its stake in Kelly Services by 4.7% in the 2nd quarter. LSV Asset Management now owns 838,861 shares of the business services provider’s stock valued at $18,832,000 after purchasing an additional 37,600 shares during the last quarter. State Street Corp lifted its stake in Kelly Services by 5.4% in the 2nd quarter. State Street Corp now owns 791,849 shares of the business services provider’s stock valued at $17,773,000 after purchasing an additional 40,773 shares during the last quarter. Finally, Northpointe Capital LLC lifted its stake in Kelly Services by 16.4% in the 3rd quarter. Northpointe Capital LLC now owns 773,568 shares of the business services provider’s stock valued at $19,409,000 after purchasing an additional 109,143 shares during the last quarter. 66.63% of the stock is owned by institutional investors and hedge funds.
Kelly Services Company Profile
Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).
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