Kelly Services (KELYA) Upgraded to “Hold” at ValuEngine

Kelly Services (NASDAQ:KELYA) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, BidaskClub upgraded shares of Kelly Services from a “buy” rating to a “strong-buy” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $34.50.

Shares of KELYA opened at $22.39 on Wednesday. The stock has a market capitalization of $818.52 million, a P/E ratio of 10.18 and a beta of 0.78. Kelly Services has a 52-week low of $19.21 and a 52-week high of $32.31.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Wednesday, November 7th. The business services provider reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.18. Kelly Services had a net margin of 1.17% and a return on equity of 7.45%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm posted $0.58 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts forecast that Kelly Services will post 2.3 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its holdings in shares of Kelly Services by 3.1% in the second quarter. Rhumbline Advisers now owns 75,818 shares of the business services provider’s stock worth $1,702,000 after buying an additional 2,271 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Kelly Services by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 498,699 shares of the business services provider’s stock worth $11,196,000 after purchasing an additional 2,613 shares in the last quarter. IndexIQ Advisors LLC lifted its position in shares of Kelly Services by 3.9% in the third quarter. IndexIQ Advisors LLC now owns 78,280 shares of the business services provider’s stock worth $1,881,000 after purchasing an additional 2,958 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Kelly Services by 4.5% in the second quarter. Legal & General Group Plc now owns 94,915 shares of the business services provider’s stock worth $2,128,000 after purchasing an additional 4,067 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Kelly Services by 384.8% in the second quarter. Sei Investments Co. now owns 5,759 shares of the business services provider’s stock worth $129,000 after purchasing an additional 4,571 shares in the last quarter. Institutional investors own 66.22% 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.

Further Reading: Quiet Period

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