Kelly Services Inc. (KELYA) Raised to “Hold” at Zacks Investment Research
Kelly Services Inc. (NASDAQ:KELYA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “KELLY SERVICES, INC. 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. “
Shares of Kelly Services (NASDAQ:KELYA) opened at 18.99 on Wednesday. The firm has a market capitalization of $723.39 million, a P/E ratio of 11.68 and a beta of 1.75. Kelly Services has a 12 month low of $14.35 and a 12 month high of $20.98. The company’s 50 day moving average price is $19.10 and its 200-day moving average price is $19.29.
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Kelly Services (NASDAQ:KELYA) last released its earnings results on Wednesday, August 10th. The company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Kelly Services had a return on equity of 7.03% and a net margin of 1.14%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the company posted $0.18 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts predict that Kelly Services will post $1.57 earnings per share for the current fiscal year.
In other news, Director B Joseph White sold 7,899 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $19.11, for a total value of $150,949.89. Following the transaction, the director now directly owns 22,090 shares in the company, valued at approximately $422,139.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP George S. Corona sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $19.41, for a total value of $194,100.00. Following the completion of the transaction, the vice president now owns 238,436 shares in the company, valued at $4,628,042.76. The disclosure for this sale can be found here. 16.10% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. bought a new stake in Kelly Services during the third quarter worth about $200,000. Mason Street Advisors LLC bought a new stake in Kelly Services during the second quarter worth about $110,000. Schwab Charles Investment Management Inc. raised its stake in Kelly Services by 0.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 346,239 shares of the company’s stock worth $6,569,000 after buying an additional 3,113 shares during the period. American Century Companies Inc. bought a new stake in Kelly Services during the second quarter worth about $415,000. Finally, Arizona State Retirement System raised its stake in Kelly Services by 2.0% in the second quarter. Arizona State Retirement System now owns 15,460 shares of the company’s stock worth $293,000 after buying an additional 300 shares during the period. Institutional investors own 64.78% of the company’s stock.
Kelly Services Company Profile
Kelly Services, Inc is a workforce solutions provider. The Company provides workforce solutions in over three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). It operates in seven segments: Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), APAC Commercial, APAC Professional and Technical (APAC PT), and Outsourcing and Consulting Group (OCG).
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