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. “
Other equities research analysts have also issued reports about the company. BidaskClub raised Kelly Services from a buy rating to a strong-buy rating in a research report on Monday, January 7th. ValuEngine raised Kelly Services from a sell rating to a hold rating in a research report on Wednesday, January 9th. Finally, TheStreet lowered Kelly Services from a b rating to a c+ rating in a research report on Thursday, February 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $32.00.
Shares of Kelly Services stock opened at $22.75 on Friday. The firm has a market capitalization of $870.30 million, a PE ratio of 10.02 and a beta of 0.81. Kelly Services has a fifty-two week low of $19.21 and a fifty-two week high of $32.31.
Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Wednesday, February 13th. The business services provider reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.07. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Kelly Services had a return on equity of 7.64% and a net margin of 0.42%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Analysts forecast that Kelly Services will post 2.35 EPS for the current year.
In related news, insider Olivier Thirot sold 5,400 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $22.12, for a total transaction of $119,448.00. Following the transaction, the insider now directly owns 73,802 shares of the company’s stock, valued at $1,632,500.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Teresa Carroll sold 4,422 shares of the company’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $24.28, for a total value of $107,366.16. Following the transaction, the executive vice president now directly owns 115,385 shares in the company, valued at $2,801,547.80. The disclosure for this sale can be found here. Insiders have sold 17,487 shares of company stock worth $411,008 over the last ninety days. 12.10% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of KELYA. Norges Bank acquired a new position in Kelly Services during the fourth quarter valued at $14,671,000. Diamond Hill Capital Management Inc. acquired a new position in Kelly Services during the fourth quarter valued at $6,562,000. BlackRock Inc. raised its position in Kelly Services by 4.0% during the fourth quarter. BlackRock Inc. now owns 4,669,672 shares of the business services provider’s stock valued at $95,635,000 after buying an additional 179,359 shares during the period. Ackerman Capital Advisors LLC raised its position in Kelly Services by 1,948.0% during the fourth quarter. Ackerman Capital Advisors LLC now owns 163,840 shares of the business services provider’s stock valued at $8,000,000 after buying an additional 155,840 shares during the period. Finally, Walthausen & Co. LLC raised its position in Kelly Services by 41.4% during the fourth quarter. Walthausen & Co. LLC now owns 451,430 shares of the business services provider’s stock valued at $9,245,000 after buying an additional 132,080 shares during the period. 68.08% of the stock is currently owned by hedge funds and other 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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