Kelly Services’ (KELYA) “Outperform” Rating Reaffirmed at Barrington Research

Kelly Services (NASDAQ:KELYA)‘s stock had its “outperform” rating reaffirmed by analysts at Barrington Research in a report released on Friday, Benzinga reports. They presently have a $29.00 price objective on the business services provider’s stock. Barrington Research’s price objective points to a potential upside of 37.31% from the company’s previous close.

Separately, StockNews.com lowered Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.

Kelly Services Price Performance

Shares of NASDAQ KELYA opened at $21.12 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $750.22 million, a price-to-earnings ratio of 15.19, a PEG ratio of 0.65 and a beta of 1.19. The firm’s 50 day simple moving average is $21.11 and its 200-day simple moving average is $22.18. Kelly Services has a 12 month low of $17.40 and a 12 month high of $25.27.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.56 by $0.15. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Kelly Services had a net margin of 1.09% and a return on equity of 7.82%. The firm’s revenue was down 13.1% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. Analysts expect that Kelly Services will post 2.49 EPS for the current year.

Hedge Funds Weigh In On Kelly Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KELYA. Federated Hermes Inc. raised its stake in Kelly Services by 6.8% in the 2nd quarter. Federated Hermes Inc. now owns 10,454 shares of the business services provider’s stock valued at $224,000 after purchasing an additional 668 shares during the last quarter. Bailard Inc. grew its holdings 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 worth $233,000 after buying an additional 700 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Kelly Services in the second quarter valued at about $30,000. Innealta Capital LLC purchased a new position in shares of Kelly Services in the second quarter worth about $39,000. Finally, nVerses Capital LLC acquired a new position in Kelly Services during the second quarter worth about $47,000. 76.34% of the stock is 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.