Kelly Services (NASDAQ:KELYA) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Kelly Services (NASDAQ:KELYA) from a hold rating to a buy rating in a report released on Saturday morning,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. Barrington Research increased their target price on Kelly Services from $15.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Weiss Ratings upgraded Kelly Services from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.00.

Kelly Services Stock Performance

KELYA opened at $15.88 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average price is $15.64 and its two-hundred day moving average price is $12.03. The company has a market cap of $551.51 million, a price-to-earnings ratio of -2.03, a PEG ratio of 1.11 and a beta of 0.87. Kelly Services has a 1-year low of $7.98 and a 1-year high of $17.75.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.19. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Kelly Services had a positive return on equity of 2.69% and a negative net margin of 6.73%.During the same period in the prior year, the firm posted $0.52 EPS. On average, analysts expect that Kelly Services will post 1.1 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.9%. The ex-dividend date was Wednesday, August 19th. Kelly Services’s dividend payout ratio is presently -3.84%.

Hedge Funds Weigh In On Kelly Services

Several hedge funds have recently modified their holdings of KELYA. Private Management Group Inc. grew its holdings in Kelly Services by 101.8% during the 4th quarter. Private Management Group Inc. now owns 1,268,649 shares of the business services provider’s stock valued at $11,164,000 after buying an additional 640,076 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Kelly Services by 39.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,908,900 shares of the business services provider’s stock valued at $16,798,000 after purchasing an additional 544,309 shares in the last quarter. Millennium Management LLC raised its stake in Kelly Services by 594.2% during the fourth quarter. Millennium Management LLC now owns 623,723 shares of the business services provider’s stock valued at $5,489,000 after purchasing an additional 533,873 shares in the last quarter. Fifth Third Bancorp bought a new position in Kelly Services during the first quarter valued at $4,371,000. Finally, Donald Smith & CO. Inc. purchased a new position in shares of Kelly Services in the 2nd quarter worth $5,704,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

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.