Kelly Services (NASDAQ:KELYA) Upgraded at Wall Street Zen

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

Several other research firms have also issued reports on KELYA. Weiss Ratings raised shares of Kelly Services from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Barrington Research raised their target price on shares of Kelly Services from $15.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. One investment 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, Kelly Services has an average rating of “Hold” and a consensus price target of $20.00.

Kelly Services Stock Down 0.7%

Shares of NASDAQ:KELYA opened at $15.48 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $537.65 million, a P/E ratio of -1.98, a P/E/G ratio of 1.09 and a beta of 0.88. Kelly Services has a 52-week low of $7.98 and a 52-week high of $17.75. The stock’s fifty day simple moving average is $16.24 and its 200-day simple moving average is $13.11.

Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, August 6th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.19. Kelly Services had a negative net margin of 6.73% and a positive return on equity of 2.69%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $0.52 earnings per share. As a group, equities research analysts forecast that Kelly Services will post 1.10 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were paid a $0.0750 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 19th. Kelly Services’s dividend payout ratio is -3.84%.

Institutional Trading of Kelly Services

Institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC acquired a new stake in Kelly Services during the 2nd quarter worth about $45,000. GAMMA Investing LLC increased its holdings in shares of Kelly Services by 19.9% in the 2nd quarter. GAMMA Investing LLC now owns 6,153 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 1,023 shares during the period. Crescent Grove Advisors LLC acquired a new position in shares of Kelly Services in the 1st quarter valued at about $88,000. Versant Capital Management Inc increased its holdings in shares of Kelly Services by 47.0% in the 2nd quarter. Versant Capital Management Inc now owns 7,351 shares of the business services provider’s stock valued at $90,000 after purchasing an additional 2,351 shares during the period. Finally, World Investment Advisors acquired a new position in shares of Kelly Services in the 1st quarter valued at about $96,000. 76.34% of the stock is owned by institutional investors and hedge funds.

Kelly Services Company Profile

Kelly Services, Inc is a workforce solutions and talent management company that connects employers with workers across a range of industries and skill levels. The company provides temporary, contract-to-hire and direct-hire staffing, as well as recruiting, workforce management and outsourcing services.

Its offerings support organizations in areas including professional and industrial staffing, education, science and clinical services, engineering, and office and administrative functions.