Kelly Services (KELYA) Rating Lowered to Hold at Zacks Investment Research

Kelly Services (NASDAQ:KELYA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Kelly Services, Inc. is a global leader of providing workforce solutions. Kelly Services, Inc. and its subsidiaries, offer a comprehensive array of outsourcing and consulting services as well as world-class staffing on a temporary, temporary-to-hire, and direct-hire basis. The company provides temporary office clerical, marketing, professional, technical, light industrial, home care services, management services and other business services to a diversified group of customers through offices located in major cities of the United States, Australia, Canada, Denmark, France, Ireland, Italy, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Russia, Spain, Switzerland and United Kingdom. Kelly Temporary Services provides office clerical, marketing, professional, technical, semi-skilled light industrial and management services. “

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A number of other research firms have also recently weighed in on KELYA. ValuEngine raised shares of Kelly Services from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. BidaskClub cut shares of Kelly Services from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 5th.

Shares of NASDAQ:KELYA traded down $0.28 on Wednesday, reaching $29.45. 19,028 shares of the company’s stock were exchanged, compared to its average volume of 159,102. The stock has a market capitalization of $1,133.63, a price-to-earnings ratio of 13.51 and a beta of 1.01. Kelly Services has a fifty-two week low of $20.27 and a fifty-two week high of $30.99.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Thursday, February 1st. The business services provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.18. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Kelly Services had a net margin of 1.33% and a return on equity of 7.92%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 earnings per share. sell-side analysts predict that Kelly Services will post 2.35 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MetLife Investment Advisors LLC bought a new position in Kelly Services in the 4th quarter valued at about $408,000. Teachers Advisors LLC grew its position in Kelly Services by 4.6% in the 4th quarter. Teachers Advisors LLC now owns 56,983 shares of the business services provider’s stock valued at $1,554,000 after buying an additional 2,503 shares in the last quarter. Two Sigma Investments LP grew its position in Kelly Services by 71.2% in the 4th quarter. Two Sigma Investments LP now owns 94,685 shares of the business services provider’s stock valued at $2,582,000 after buying an additional 39,383 shares in the last quarter. Two Sigma Advisers LP grew its position in Kelly Services by 7.7% in the 4th quarter. Two Sigma Advisers LP now owns 117,390 shares of the business services provider’s stock valued at $3,201,000 after buying an additional 8,400 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Kelly Services by 17.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 230,132 shares of the business services provider’s stock valued at $6,276,000 after buying an additional 34,196 shares in the last quarter. Hedge funds and other institutional investors own 68.09% of the company’s stock.

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Kelly Services Company Profile

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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