Zacks Investment Research lowered shares of Kelly Services (NASDAQ:KELYA) from a strong-buy rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “Kelly Services, Inc. is a global leader of providing workforce solutions. Kelly Services, Inc. and its subsidiaries, offer a comprehensive array of outsourcing and consulting services as well as world-class staffing on a temporary, temporary-to-hire, and direct-hire basis. The company 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. “
Separately, BidaskClub downgraded shares of Kelly Services from a buy rating to a hold rating in a report on Tuesday, December 12th.
Kelly Services (KELYA) traded up $0.12 on Wednesday, hitting $28.55. 102,748 shares of the company traded hands, compared to its average volume of 134,831. Kelly Services has a 52-week low of $20.27 and a 52-week high of $30.93. The firm has a market cap of $1,097.03, a P/E ratio of 14.95 and a beta of 1.11.
Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.58 earnings per share for the quarter, topping the 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 during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. analysts predict that Kelly Services will post 2.04 earnings per share for the current year.
In other Kelly Services news, Director Jane E. Dutton sold 6,900 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $29.05, for a total value of $200,445.00. Following the completion of the sale, the director now owns 24,180 shares in the company, valued at approximately $702,429. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Leslie A. Murphy sold 7,500 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $28.69, for a total transaction of $215,175.00. Following the completion of the sale, the director now directly owns 22,695 shares of the company’s stock, valued at approximately $651,119.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,400 shares of company stock valued at $499,800. 16.10% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of 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 buying an additional 9,868 shares during the period. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 9,394 shares during the period. LSV Asset Management grew its stake in shares of 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 buying an additional 37,600 shares during the period. State Street Corp grew its stake in shares of 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 buying an additional 40,773 shares during the period. Finally, Northpointe Capital LLC grew its stake in shares of 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 buying an additional 109,143 shares during the period. 65.91% of the stock is owned by institutional investors and hedge funds.
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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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