Kelly Services (NASDAQ:KELYA) Hits New 1-Year High – What’s Next?

Kelly Services, Inc. (NASDAQ:KELYA) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $16.18 and last traded at $16.1530, with a volume of 16270 shares changing hands. The stock had previously closed at $15.72.

Analyst Upgrades and Downgrades

KELYA has been the subject of several recent research reports. Weiss Ratings cut Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Barrington Research reissued an “outperform” rating on shares of Kelly Services in a research report on Monday, June 29th. Finally, Zacks Research upgraded Kelly Services from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Kelly Services currently has an average rating of “Hold” and a consensus target price of $15.00.

Kelly Services Stock Down 2.1%

The firm’s 50 day simple moving average is $12.79 and its 200-day simple moving average is $10.69. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $548.13 million, a price-to-earnings ratio of -2.08, a price-to-earnings-growth ratio of 1.23 and a beta of 0.84.

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

Kelly Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.30 annualized dividend and a yield of 1.9%. Kelly Services’s dividend payout ratio is -3.95%.

Insider Buying and Selling at Kelly Services

In related news, EVP Vanessa Peterson Williams sold 29,999 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $9.78, for a total transaction 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. The trade was a 26.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Kelly Services

A number of institutional investors have recently bought and sold shares of KELYA. Marquette Asset Management LLC acquired a new stake in shares of Kelly Services in the second quarter valued at approximately $318,000. GAMMA Investing LLC increased its holdings in shares of Kelly Services by 19.9% during the 2nd quarter. GAMMA Investing LLC now owns 6,153 shares of the business services provider’s stock worth $76,000 after acquiring an additional 1,023 shares during the last quarter. Versant Capital Management Inc raised its stake in Kelly Services by 47.0% in the 2nd quarter. Versant Capital Management Inc now owns 7,351 shares of the business services provider’s stock valued at $90,000 after acquiring an additional 2,351 shares during the period. Empowered Funds LLC raised its stake in Kelly Services by 20.8% in the 1st quarter. Empowered Funds LLC now owns 155,590 shares of the business services provider’s stock valued at $1,377,000 after acquiring an additional 26,832 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in Kelly Services by 34.5% during the 1st quarter. Quantinno Capital Management LP now owns 189,010 shares of the business services provider’s stock valued at $1,673,000 after purchasing an additional 48,431 shares during the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.

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.