Kelly Services (KELYA) Downgraded by BidaskClub to “Sell”

BidaskClub lowered shares of Kelly Services (NASDAQ:KELYA) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Separately, Zacks Investment Research upgraded shares of Kelly Services from a hold rating to a strong-buy rating and set a $32.00 price target on the stock in a research report on Tuesday, November 14th.

Kelly Services (NASDAQ KELYA) traded up $0.13 on Thursday, reaching $27.82. 97,693 shares of the company’s stock were exchanged, compared to its average volume of 145,203. Kelly Services has a 52-week low of $20.27 and a 52-week high of $30.93. The company has a market cap of $1,068.98, a price-to-earnings ratio of 14.57 and a beta of 1.11.

Kelly Services (NASDAQ:KELYA) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.27. Kelly Services had a net margin of 1.44% and a return on equity of 7.25%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. analysts expect that Kelly Services will post 2.04 earnings per share for the current fiscal year.

In other news, CEO George S. Corona sold 3,000 shares of the business’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 value of $84,180.00. Following the transaction, the chief executive officer now owns 193,473 shares in the company, valued at approximately $5,428,852.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leslie A. Murphy sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $28.69, for a total transaction of $215,175.00. Following the completion of the transaction, the director now owns 22,695 shares in the company, valued at approximately $651,119.55. The disclosure for this sale can be found here. Insiders sold a total of 17,400 shares of company stock worth $499,800 in the last 90 days. Corporate insiders own 16.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Walthausen & Co. LLC acquired a new position in shares of Kelly Services during the 3rd quarter valued at $3,575,000. California Public Employees Retirement System lifted its position in shares of Kelly Services by 2.3% during the 3rd quarter. California Public Employees Retirement System now owns 142,241 shares of the business services provider’s stock valued at $3,569,000 after acquiring an additional 3,241 shares during the period. Allianz Asset Management GmbH lifted its position in shares of Kelly Services by 8.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 154,868 shares of the business services provider’s stock valued at $3,886,000 after acquiring an additional 11,508 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Kelly Services during the 3rd quarter valued at $954,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Kelly Services by 0.3% during 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 acquiring an additional 9,868 shares during the period. Hedge funds and other institutional investors own 65.91% of the company’s stock.

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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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