Kelly Services (NASDAQ:KELYA) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday.
Separately, Zacks Investment Research upgraded Kelly Services from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, November 14th.
Kelly Services (NASDAQ KELYA) opened at $27.58 on Thursday. The company has a market capitalization of $1,052.08, a PE ratio of 14.44 and a beta of 1.11. Kelly Services has a one year low of $20.27 and a one year high of $30.93.
Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.27. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Kelly Services had a return on equity of 7.25% and a net margin of 1.44%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. research analysts forecast that Kelly Services will post 2.04 earnings per share for the current fiscal year.
In other news, CEO George S. Corona sold 3,000 shares of Kelly Services stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $28.06, for a total transaction of $84,180.00. Following the sale, the chief executive officer now directly owns 193,473 shares of the company’s stock, valued at $5,428,852.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Leslie A. Murphy sold 7,500 shares of Kelly Services stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $28.69, for a total value of $215,175.00. Following the sale, the director now directly owns 22,695 shares in the company, valued at $651,119.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,400 shares of company stock worth $499,800. Corporate insiders own 16.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in KELYA. Dimensional Fund Advisors LP increased its holdings in Kelly Services by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,945,394 shares of the business services provider’s stock valued at $73,900,000 after buying an additional 9,868 shares during the last quarter. Vanguard Group Inc. increased its holdings in Kelly Services by 0.3% in the second quarter. Vanguard Group Inc. now owns 2,720,771 shares of the business services provider’s stock valued at $61,081,000 after buying an additional 9,394 shares during the last quarter. LSV Asset Management increased its holdings in Kelly Services by 4.7% in the second quarter. LSV Asset Management now owns 838,861 shares of the business services provider’s stock valued at $18,832,000 after buying an additional 37,600 shares during the last quarter. State Street Corp increased its holdings in Kelly Services by 5.4% in the second quarter. State Street Corp now owns 791,849 shares of the business services provider’s stock valued at $17,773,000 after buying an additional 40,773 shares during the last quarter. Finally, Northpointe Capital LLC increased its holdings in Kelly Services by 16.4% in the third quarter. Northpointe Capital LLC now owns 773,568 shares of the business services provider’s stock valued at $19,409,000 after buying an additional 109,143 shares during the last quarter. 65.91% of the stock is currently owned by institutional investors and hedge funds.
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About Kelly Services
Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).
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