Kelly Services (NASDAQ:KELYA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday, January 10th.
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 lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th.
Shares of Kelly Services (NASDAQ KELYA) traded up $0.30 on Wednesday, reaching $29.33. 134,541 shares of the company traded hands, compared to its average volume of 101,501. Kelly Services has a 12-month low of $20.27 and a 12-month high of $30.93. The company has a market cap of $1,127.01, a P/E ratio of 15.36 and a beta of 1.11.
Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.58 earnings per share (EPS) 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 company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. research analysts forecast that Kelly Services will post 2.04 earnings per share for the current fiscal year.
In other Kelly Services 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 value 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 $5,428,852.38. The sale was disclosed in a legal 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 company’s 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. Insiders have sold 17,400 shares of company stock worth $499,800 over the last quarter. 16.10% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. lifted its stake in Kelly Services by 7.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 445,130 shares of the business services provider’s stock valued at $9,994,000 after acquiring an additional 31,020 shares during the last quarter. Rhumbline Advisers raised its position in shares of Kelly Services by 1.9% in the second quarter. Rhumbline Advisers now owns 60,724 shares of the business services provider’s stock valued at $1,363,000 after purchasing an additional 1,127 shares during the period. SG Americas Securities LLC bought a new position in shares of Kelly Services in the second quarter valued at about $117,000. Legal & General Group Plc raised its position in shares of Kelly Services by 8.5% in the second quarter. Legal & General Group Plc now owns 53,038 shares of the business services provider’s stock valued at $1,191,000 after purchasing an additional 4,147 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in Kelly Services by 49.1% during the second quarter. BNP Paribas Arbitrage SA now owns 12,079 shares of the business services provider’s stock worth $271,000 after acquiring an additional 3,976 shares during the period. Institutional investors and hedge funds own 65.91% of the company’s stock.
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About Kelly Services
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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