Kelly Services (KELYA) Rating Lowered to Sell at BidaskClub

Kelly Services (NASDAQ:KELYA) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday.

Separately, Zacks Investment Research upgraded shares of Kelly Services from a “hold” rating to a “strong-buy” rating and set a $32.00 target price on the stock in a report on Tuesday, November 14th.

Shares of Kelly Services (NASDAQ:KELYA) opened at $27.82 on Thursday. Kelly Services has a fifty-two week low of $20.27 and a fifty-two week high of $30.93. The stock has a market cap of $1,063.99, a P/E ratio of 14.20 and a beta of 1.11.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.27. Kelly Services had a net margin of 1.44% and a return on equity of 7.25%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the company earned $0.44 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. equities research analysts expect that Kelly Services will post 2.04 EPS for the current fiscal year.

In other Kelly Services news, Director Leslie A. Murphy sold 7,500 shares of Kelly Services stock in a transaction on Friday, November 17th. The shares were sold at an average price of $28.69, for a total transaction of $215,175.00. Following the completion of the transaction, the director now directly owns 22,695 shares of the company’s stock, valued at $651,119.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jane E. Dutton sold 6,900 shares of Kelly Services stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $29.05, for a total transaction of $200,445.00. Following the transaction, the director now directly owns 24,180 shares of the company’s stock, valued at $702,429. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,400 shares of company stock valued at $499,800. Company insiders own 16.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Kelly Services in the second quarter valued at about $117,000. Victory Capital Management Inc. boosted its position in shares of Kelly Services by 17.6% in the second quarter. Victory Capital Management Inc. now owns 8,484 shares of the business services provider’s stock valued at $190,000 after acquiring an additional 1,271 shares during the period. Macquarie Group Ltd. bought a new stake in shares of Kelly Services in the third quarter valued at about $218,000. BNP Paribas Arbitrage SA boosted its position in shares of Kelly Services by 49.1% in the second quarter. BNP Paribas Arbitrage SA now owns 12,079 shares of the business services provider’s stock valued at $271,000 after acquiring an additional 3,976 shares during the period. Finally, Voya Investment Management LLC boosted its position in shares of Kelly Services by 20.7% in the second quarter. Voya Investment Management LLC now owns 13,274 shares of the business services provider’s stock valued at $298,000 after acquiring an additional 2,278 shares during the period. 65.91% of the stock is owned by hedge funds and other institutional investors.

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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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