ValuEngine upgraded shares of Kelly Services (NASDAQ:KELYA) from a sell rating to a hold rating in a research report report published on Friday morning.
A number of other research firms also recently issued reports on KELYA. BidaskClub downgraded Kelly Services from a hold rating to a sell rating in a research note on Saturday, July 14th. Zacks Investment Research upgraded Kelly Services from a sell rating to a hold rating in a research note on Tuesday, July 24th. Finally, Sidoti initiated coverage on Kelly Services in a research note on Friday, August 24th. They issued a buy rating and a $37.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $34.50.
KELYA traded up $0.50 during trading on Friday, hitting $24.48. 147,892 shares of the company’s stock traded hands, compared to its average volume of 135,291. Kelly Services has a 12-month low of $21.44 and a 12-month high of $32.31. The company has a market cap of $949.90 million, a price-to-earnings ratio of 11.13 and a beta of 0.79.
Kelly Services (NASDAQ:KELYA) last issued its earnings results on Wednesday, August 8th. The business services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.43 by $0.11. Kelly Services had a return on equity of 7.62% and a net margin of 0.99%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the business posted $0.47 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. Equities analysts expect that Kelly Services will post 2.1 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Kelly Services by 7.1% in the 2nd quarter. BlackRock Inc. now owns 4,342,762 shares of the business services provider’s stock worth $97,496,000 after purchasing an additional 289,379 shares during the period. FMR LLC raised its holdings in Kelly Services by 86.8% in the 2nd quarter. FMR LLC now owns 296,211 shares of the business services provider’s stock worth $6,650,000 after purchasing an additional 137,680 shares during the period. Millennium Management LLC bought a new position in Kelly Services in the 2nd quarter worth $2,290,000. Allianz Asset Management GmbH raised its holdings in Kelly Services by 47.1% in the 1st quarter. Allianz Asset Management GmbH now owns 311,262 shares of the business services provider’s stock worth $9,039,000 after purchasing an additional 99,698 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in Kelly Services by 17.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 581,540 shares of the business services provider’s stock worth $13,056,000 after purchasing an additional 86,195 shares during the period. Hedge funds and other institutional investors own 66.67% of the company’s stock.
About Kelly Services
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions (GTS), and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
See Also: What are Institutional Investors?
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Kelly Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kelly Services and related companies with MarketBeat.com's FREE daily email newsletter.