Kelly Services (NASDAQ:KELYA) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Kelly Services (NASDAQ:KELYA) from a hold rating to a sell rating in a report issued on Tuesday, Zacks.com reports.

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. “

KELYA has been the topic of several other reports. ValuEngine upgraded shares of Kelly Services from a sell rating to a hold rating in a research report on Tuesday, May 7th. TheStreet upgraded shares of Kelly Services from a c+ rating to a b rating in a research report on Monday, May 6th. Noble Financial began coverage on shares of Kelly Services in a research report on Tuesday, July 30th. They set an outperform rating and a $32.00 price objective on the stock. Finally, BidaskClub upgraded shares of Kelly Services from a buy rating to a strong-buy rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $32.33.

Kelly Services stock opened at $27.53 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 12.13 and a beta of 0.76. Kelly Services has a 1 year low of $19.21 and a 1 year high of $28.91. The firm’s 50 day moving average price is $27.00 and its two-hundred day moving average price is $24.46.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.16. Kelly Services had a net margin of 2.09% and a return on equity of 8.41%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the business posted $0.54 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts predict that Kelly Services will post 2.28 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Monday, August 19th. Kelly Services’s payout ratio is 13.22%.

In other Kelly Services news, insider James Polehna sold 1,784 shares of Kelly Services stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $27.42, for a total transaction of $48,917.28. Following the transaction, the insider now directly owns 21,399 shares in the company, valued at approximately $586,760.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 7.20% of the company’s stock.

Several large investors have recently modified their holdings of the business. Palouse Capital Management Inc. boosted its stake in shares of Kelly Services by 5.0% during the 1st quarter. Palouse Capital Management Inc. now owns 11,406 shares of the business services provider’s stock valued at $252,000 after buying an additional 543 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of Kelly Services by 9.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 6,929 shares of the business services provider’s stock valued at $182,000 after purchasing an additional 586 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in shares of Kelly Services by 20.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 3,618 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 618 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Kelly Services by 8.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 8,313 shares of the business services provider’s stock valued at $170,000 after purchasing an additional 621 shares during the last quarter. Finally, Comerica Bank lifted its stake in shares of Kelly Services by 2.4% in the 1st quarter. Comerica Bank now owns 31,290 shares of the business services provider’s stock valued at $709,000 after purchasing an additional 719 shares during the last quarter. 66.50% of the stock is owned by institutional investors.

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.

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