Kelly Services (NASDAQ:KELYA) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Kelly Services, Inc. (NASDAQ:KELYA) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.22 and traded as high as $14.57. Kelly Services shares last traded at $14.33, with a volume of 282,409 shares.

Wall Street Analyst Weigh In

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

Kelly Services Trading Up 1.8%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.59 and a current ratio of 1.59. The business has a fifty day simple moving average of $11.66 and a 200 day simple moving average of $10.22. The stock has a market cap of $496.82 million, a price-to-earnings ratio of -1.89, a PEG ratio of 1.07 and a beta of 0.84.

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

Kelly Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were paid a $0.075 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.30 annualized dividend and a yield of 2.1%. Kelly Services’s payout ratio is presently -3.95%.

Insider Transactions at Kelly Services

In other Kelly Services news, EVP Vanessa Peterson Williams sold 29,999 shares of the company’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 transaction, the executive vice president directly owned 82,355 shares in the company, valued at approximately $805,431.90. This represents a 26.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Kelly Services

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

Kelly Services Company Profile

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.