Kelly Services (KELYA) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of Kelly Services (NASDAQ:KELYA) from a sell rating to a hold rating in a research note published on Saturday.

Separately, Zacks Investment Research cut Kelly Services from a strong-buy rating to a hold rating in a research note on Wednesday, January 10th.

Kelly Services (KELYA) traded up $0.30 during mid-day trading on Friday, reaching $29.33. The company’s stock had a trading volume of 134,541 shares, compared to its average volume of 101,501. The company has a market capitalization of $1,127.01, a PE ratio of 15.36 and a beta of 1.11. Kelly Services has a 12 month low of $20.27 and a 12 month high of $30.93.

Kelly Services (NASDAQ:KELYA) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.27. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Kelly Services had a return on equity of 7.25% and a net margin of 1.44%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.44 earnings per share. equities analysts forecast that Kelly Services will post 2.04 EPS for the current fiscal year.

In other news, Director Jane E. Dutton sold 6,900 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $29.05, for a total transaction of $200,445.00. Following the transaction, the director now directly owns 24,180 shares of the company’s stock, valued at $702,429. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leslie A. Murphy sold 7,500 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $28.69, for a total value of $215,175.00. Following the transaction, the director now directly owns 22,695 shares in the company, valued at $651,119.55. The disclosure for this sale can be found here. Insiders sold 17,400 shares of company stock worth $499,800 over the last quarter. 16.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan increased its holdings in shares of Kelly Services by 4.7% during the third quarter. Municipal Employees Retirement System of Michigan now owns 101,000 shares of the business services provider’s stock valued at $2,534,000 after purchasing an additional 4,520 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Kelly Services during the third quarter valued at $954,000. Walthausen & Co. LLC acquired a new position in shares of Kelly Services during the third quarter valued at $3,575,000. Vanguard Group Inc. increased its holdings in shares of Kelly Services by 0.3% during the second quarter. Vanguard Group Inc. now owns 2,720,771 shares of the business services provider’s stock valued at $61,081,000 after purchasing an additional 9,394 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Kelly Services by 32.1% during the second quarter. Goldman Sachs Group Inc. now owns 67,929 shares of the business services provider’s stock valued at $1,525,000 after purchasing an additional 16,504 shares during the period. 65.91% of the stock is currently owned by institutional investors.

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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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