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

Kelly Services, Inc. (NASDAQ:KELYA)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $16.67 and last traded at $17.2630, with a volume of 2435 shares trading hands. The stock had previously closed at $15.22.

Analyst Ratings Changes

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

Kelly Services Stock Performance

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’s 50 day moving average price is $13.22 and its two-hundred day moving average price is $10.87. The firm has a market capitalization of $535.48 million, a price-to-earnings ratio of -2.06, a PEG ratio of 1.16 and a beta of 0.83.

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

Insider Activity

In related news, EVP Vanessa Peterson Williams sold 29,999 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $9.78, for a total transaction of $293,390.22. Following the sale, the executive vice president owned 82,355 shares of the company’s stock, valued at $805,431.90. This trade represents a 26.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kelly Services

Hedge funds and other institutional investors have recently modified their holdings of the company. Marquette Asset Management LLC purchased a new position in shares of Kelly Services during the second quarter valued at approximately $318,000. GAMMA Investing LLC lifted its stake 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 purchasing an additional 1,023 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Kelly Services by 47.0% during the second quarter. Versant Capital Management Inc now owns 7,351 shares of the business services provider’s stock worth $90,000 after purchasing an additional 2,351 shares during the last quarter. Empowered Funds LLC grew its position in shares of Kelly Services by 20.8% in the first quarter. Empowered Funds LLC now owns 155,590 shares of the business services provider’s stock valued at $1,377,000 after purchasing an additional 26,832 shares during the period. Finally, Quantinno Capital Management LP increased its stake in Kelly Services by 34.5% in the first 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. 76.34% of the stock is currently owned by hedge funds and other 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.