ValuEngine Upgrades Kelly Services (NASDAQ:KELYA) to “Hold”

ValuEngine upgraded shares of Kelly Services (NASDAQ:KELYA) from a sell rating to a hold rating in a research note published on Tuesday, May 7th, ValuEngine reports.

Several other analysts also recently weighed in on KELYA. BidaskClub raised shares of Kelly Services from a buy rating to a strong-buy rating in a research note on Monday, January 7th. Zacks Investment Research upgraded shares of Kelly Services from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research report on Tuesday, January 22nd. Finally, TheStreet cut shares of Kelly Services from a b rating to a c+ rating in a research report on Thursday, February 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $32.50.

Shares of NASDAQ KELYA traded down $0.27 during mid-day trading on Tuesday, reaching $23.50. 137,100 shares of the company were exchanged, compared to its average volume of 114,912. Kelly Services has a 52 week low of $19.21 and a 52 week high of $26.57. The company has a market capitalization of $920.49 million, a P/E ratio of 10.35 and a beta of 0.80.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Monday, May 6th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.10. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. Kelly Services had a net margin of 0.29% and a return on equity of 7.94%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. As a group, sell-side analysts predict that Kelly Services will post 2.45 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Monday, May 20th. Kelly Services’s dividend payout ratio is currently 13.22%.

In other Kelly Services news, insider Olivier Thirot sold 5,400 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $22.12, for a total value of $119,448.00. Following the sale, the insider now owns 73,802 shares in the company, valued at $1,632,500.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Teresa Carroll sold 6,959 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $24.13, for a total transaction of $167,920.67. The disclosure for this sale can be found here. Insiders have sold 27,726 shares of company stock worth $671,047 in the last quarter. 7.20% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Kelly Services by 56.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,230 shares of the business services provider’s stock worth $46,000 after buying an additional 805 shares in the last quarter. Founders Capital Management bought a new position in shares of Kelly Services in the fourth quarter worth approximately $51,000. DekaBank Deutsche Girozentrale bought a new position in shares of Kelly Services in the first quarter worth approximately $64,000. PNC Financial Services Group Inc. lifted its stake in shares of Kelly Services by 47.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,771 shares of the business services provider’s stock worth $56,000 after buying an additional 891 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in shares of Kelly Services by 593.3% in the fourth quarter. Meeder Asset Management Inc. now owns 3,945 shares of the business services provider’s stock worth $81,000 after buying an additional 3,376 shares in the last quarter. Institutional investors and hedge funds own 66.37% of the company’s stock.

Kelly Services Company Profile

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, 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.

Further Reading: Stock Symbols and CUSIP Explained

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