Kelly Services (NASDAQ:KELYA) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Kelly Services, Inc. (NASDAQ:KELYA)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.46 and traded as high as $12.16. Kelly Services shares last traded at $11.77, with a volume of 308,498 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on KELYA shares. Wall Street Zen raised shares of Kelly Services from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Barrington Research cut their price objective on shares of Kelly Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Weiss Ratings cut shares of Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Finally, Zacks Research raised shares of Kelly Services from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Kelly Services presently has a consensus rating of “Hold” and an average price target of $15.00.

Kelly Services Trading Down 0.8%

The business’s 50-day moving average is $9.84 and its two-hundred day moving average is $9.46. 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 stock has a market capitalization of $408.07 million, a PE ratio of -1.55, a price-to-earnings-growth ratio of 0.90 and a beta of 0.85.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data 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). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Kelly Services had a negative net margin of 6.44% and a positive return on equity of 3.07%. As a group, equities research analysts anticipate that Kelly Services, Inc. will post 1.01 earnings per share for the current year.

Kelly Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, May 18th. Kelly Services’s payout ratio is presently -3.95%.

Insider Buying and Selling at Kelly Services

In other Kelly Services news, EVP Vanessa Peterson Williams sold 29,999 shares of the 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 completion of the transaction, the executive vice president directly owned 82,355 shares of the company’s stock, valued at approximately $805,431.90. This trade represents a 26.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher D. Layden bought 10,100 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was bought at an average cost of $8.80 per share, with a total value of $88,880.00. Following the completion of the acquisition, the chief executive officer owned 382,513 shares of the company’s stock, valued at $3,366,114.40. This represents a 2.71% increase in their position. The disclosure for this purchase is available in the SEC filing. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kelly Services

Hedge funds have recently bought and sold shares of the company. Quarry LP increased its stake in Kelly Services by 173.2% in the 3rd quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 1,249 shares in the last quarter. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Kelly Services in the 4th quarter worth about $30,000. Tower Research Capital LLC TRC boosted its position in shares of Kelly Services by 83.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider’s stock worth $51,000 after buying an additional 1,967 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Kelly Services in the 4th quarter worth about $42,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Kelly Services by 46.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,944 shares of the business services provider’s stock worth $65,000 after buying an additional 1,577 shares in the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.

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.