StockNews.com Lowers Kelly Services (NASDAQ:KELYA) to Hold

Kelly Services (NASDAQ:KELYA) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Barrington Research reiterated an “outperform” rating and issued a $29.00 target price on shares of Kelly Services in a research report on Tuesday, May 28th.

Kelly Services Stock Performance

Shares of Kelly Services stock traded up $0.06 during trading hours on Friday, hitting $19.43. The company’s stock had a trading volume of 294,047 shares, compared to its average volume of 236,846. The business has a 50 day moving average price of $21.65 and a two-hundred day moving average price of $22.60. Kelly Services has a 12-month low of $16.85 and a 12-month high of $25.27. The company has a market cap of $690.19 million, a PE ratio of 13.98, a PEG ratio of 0.80 and a beta of 1.21.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.53 by $0.18. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Kelly Services had a return on equity of 6.87% and a net margin of 1.11%. The business’s revenue was down 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. As a group, research analysts anticipate that Kelly Services will post 2.16 earnings per share for the current year.

Institutional Investors Weigh In On Kelly Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KELYA. Federated Hermes Inc. grew its stake in shares of Kelly Services by 6.8% during the second quarter. Federated Hermes Inc. now owns 10,454 shares of the business services provider’s stock valued at $224,000 after buying an additional 668 shares during the last quarter. Bailard Inc. grew its stake in shares of Kelly Services by 6.9% during the second quarter. Bailard Inc. now owns 10,874 shares of the business services provider’s stock valued at $233,000 after buying an additional 700 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Kelly Services by 2.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 64,668 shares of the business services provider’s stock valued at $1,398,000 after buying an additional 1,520 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Kelly Services during the second quarter valued at approximately $39,000. Finally, nVerses Capital LLC bought a new position in shares of Kelly Services during the second quarter valued at approximately $47,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

About Kelly Services

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.