Kelly Services (NASDAQ:KELYA) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Kelly Services, Inc. (NASDAQ:KELYA)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.34 and traded as high as $16.46. Kelly Services shares last traded at $16.28, with a volume of 235,635 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KELYA shares. Wall Street Zen upgraded shares of Kelly Services from a “hold” rating to a “buy” rating in a research note on Saturday, September 12th. Weiss Ratings raised shares of Kelly Services from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. Finally, Barrington Research lifted their price target on shares of Kelly Services from $15.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.00.

Kelly Services Trading Down 1.3%

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 business has a 50 day simple moving average of $16.02 and a two-hundred day simple moving average of $12.39. The stock has a market cap of $571.31 million, a price-to-earnings ratio of -2.11, a price-to-earnings-growth ratio of 1.14 and a beta of 0.87.

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

Kelly Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were paid a dividend of $0.075 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.30 annualized dividend and a yield of 1.8%. Kelly Services’s dividend payout ratio is presently -3.84%.

Institutional Trading of Kelly Services

Several institutional investors have recently added to or reduced their stakes in KELYA. Donald Smith & CO. Inc. bought a new stake in shares of Kelly Services during the 2nd quarter valued at about $5,704,000. Fifth Third Bancorp acquired a new stake in shares of Kelly Services during the 1st quarter worth approximately $4,371,000. Bank of New York Mellon Corp lifted its holdings in shares of Kelly Services by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 347,605 shares of the business services provider’s stock worth $3,076,000 after purchasing an additional 4,326 shares during the last quarter. JB Capital Partners LP boosted its position in Kelly Services by 76.3% during the 4th quarter. JB Capital Partners LP now owns 207,160 shares of the business services provider’s stock valued at $1,823,000 after purchasing an additional 89,674 shares during the period. Finally, Quantinno Capital Management LP grew its stake 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 worth $1,673,000 after buying an additional 48,431 shares during the last quarter. Institutional investors own 76.34% of the company’s stock.

Kelly Services Company Profile

Kelly Services, Inc is a workforce solutions and staffing company that connects employers with workers across a range of industries and skill levels. Its services include temporary staffing, direct-hire and professional recruiting, workforce management, and outsourcing solutions designed to help organizations manage their talent needs.

The company serves sectors including education, engineering, science, technology, healthcare, office administration, light industrial work, and contact centers.