Zacks Investment Research upgraded shares of Kelly Services (NASDAQ:KELYA) from a hold rating to a buy rating in a research note published on Wednesday. They currently have $32.00 price objective on the business services provider’s stock.
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. “
Several other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Kelly Services from a hold rating to a sell rating in a research note on Thursday, January 4th. ValuEngine raised shares of Kelly Services from a hold rating to a buy rating in a research report on Friday, February 2nd.
Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.18. Kelly Services had a net margin of 1.33% and a return on equity of 7.92%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the business earned $0.55 EPS. Kelly Services’s quarterly revenue was up 9.0% compared to the same quarter last year. equities research analysts predict that Kelly Services will post 2.35 earnings per share for the current year.
In other Kelly Services news, Director Jane E. Dutton sold 6,900 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $29.05, for a total transaction of $200,445.00. Following the completion of the transaction, the director now owns 24,180 shares of the company’s stock, valued at approximately $702,429. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leslie A. Murphy sold 7,500 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $28.69, for a total transaction of $215,175.00. Following the transaction, the director now directly owns 22,695 shares of the company’s stock, valued at approximately $651,119.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,400 shares of company stock valued at $499,800. Company insiders own 16.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in shares of Kelly Services during the fourth quarter valued at about $210,000. Macquarie Group Ltd. acquired a new position in shares of Kelly Services during the third quarter valued at about $218,000. SG Americas Securities LLC raised its position in shares of Kelly Services by 78.9% during the third quarter. SG Americas Securities LLC now owns 9,288 shares of the business services provider’s stock valued at $233,000 after buying an additional 4,097 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in shares of Kelly Services during the fourth quarter valued at about $240,000. Finally, Voya Investment Management LLC raised its position in shares of Kelly Services by 20.7% during the second quarter. Voya Investment Management LLC now owns 13,274 shares of the business services provider’s stock valued at $298,000 after buying an additional 2,278 shares during the last quarter. 65.99% of the stock is owned by hedge funds and other institutional investors.
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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