Kelly Services (NASDAQ:KELYA) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Kelly Services, Inc. (NASDAQ:KELYA) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.00 and traded as high as $13.78. Kelly Services shares last traded at $13.51, with a volume of 515,470 shares trading hands.

Analysts Set New Price Targets

Several research firms have issued reports on KELYA. Barrington Research reiterated an “outperform” rating on shares of Kelly Services in a research note on Monday, June 29th. Weiss Ratings downgraded shares of Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Finally, Zacks Research raised shares of Kelly Services from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Kelly Services presently has an average rating of “Hold” and a consensus price target of $15.00.

Kelly Services Stock Up 4.2%

The firm has a market capitalization of $468.39 million, a price-to-earnings ratio of -1.78, a P/E/G ratio of 0.98 and a beta of 0.84. The firm has a fifty day moving average price of $11.17 and a 200 day moving average price of $10.00. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.13.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04). The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Kelly Services had a negative net margin of 6.44% and a positive return on equity of 3.07%. Sell-side analysts anticipate that Kelly Services, Inc. will post 1.01 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, May 18th. Kelly Services’s payout ratio is currently -3.95%.

Insider Buying and Selling

In other Kelly Services news, EVP Vanessa Peterson Williams sold 29,999 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $9.78, for a total value of $293,390.22. Following the completion of the sale, the executive vice president owned 82,355 shares in the company, valued at approximately $805,431.90. This trade represents a 26.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Kelly Services

Several hedge funds have recently modified their holdings of the stock. Private Management Group Inc. increased its holdings in shares of Kelly Services by 101.8% in the fourth quarter. Private Management Group Inc. now owns 1,268,649 shares of the business services provider’s stock valued at $11,164,000 after purchasing an additional 640,076 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Kelly Services by 39.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,908,900 shares of the business services provider’s stock worth $16,798,000 after buying an additional 544,309 shares in the last quarter. Millennium Management LLC boosted its position in Kelly Services by 594.2% in the 4th quarter. Millennium Management LLC now owns 623,723 shares of the business services provider’s stock valued at $5,489,000 after buying an additional 533,873 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of Kelly Services in the 1st quarter valued at $4,371,000. Finally, JPMorgan Chase & Co. raised its position in shares of Kelly Services by 1,328.6% during the third quarter. JPMorgan Chase & Co. now owns 412,211 shares of the business services provider’s stock worth $5,408,000 after acquiring an additional 383,357 shares during the last quarter. 76.34% of the stock is owned by institutional investors.

About Kelly Services

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.