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

According to Zacks, “KELLY SERVICES, INC. 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. “

Kelly Services (NASDAQ:KELYA) opened at 19.47 on Wednesday. Kelly Services has a 12-month low of $14.35 and a 12-month high of $20.98. The firm has a 50-day moving average price of $18.92 and a 200-day moving average price of $19.25. The company has a market cap of $741.67 million, a P/E ratio of 11.97 and a beta of 1.27.

Kelly Services (NASDAQ:KELYA) last released its earnings results on Monday, November 7th. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.30 billion. Kelly Services had a return on equity of 7.59% and a net margin of 2.49%. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. On average, equities research analysts forecast that Kelly Services will post $1.57 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Wednesday, November 23rd will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Monday, November 21st. Kelly Services’s dividend payout ratio is currently 8.67%.

In related news, Director Conrad L. Mallett, Jr. sold 1,792 shares of the business’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $19.55, for a total transaction of $35,033.60. Following the completion of the transaction, the director now owns 14,351 shares in the company, valued at approximately $280,562.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director B Joseph White sold 7,899 shares of the business’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $19.11, for a total value of $150,949.89. Following the transaction, the director now owns 22,090 shares of the company’s stock, valued at approximately $422,139.90. The disclosure for this sale can be found here. Insiders own 16.10% of the company’s stock.

A number of institutional investors have recently bought and sold shares of KELYA. Vanguard Group Inc. boosted its position in Kelly Services by 5.2% in the second quarter. Vanguard Group Inc. now owns 2,364,925 shares of the company’s stock worth $44,863,000 after buying an additional 116,027 shares during the last quarter. BlackRock Fund Advisors boosted its position in Kelly Services by 7.5% in the third quarter. BlackRock Fund Advisors now owns 2,147,889 shares of the company’s stock worth $41,282,000 after buying an additional 149,360 shares during the last quarter. Royce & Associates LP boosted its position in Kelly Services by 4.6% in the second quarter. Royce & Associates LP now owns 1,167,200 shares of the company’s stock worth $22,142,000 after buying an additional 51,100 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Kelly Services by 4.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 807,062 shares of the company’s stock worth $15,512,000 after buying an additional 35,327 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Kelly Services by 7.1% in the third quarter. JPMorgan Chase & Co. now owns 600,703 shares of the company’s stock worth $11,546,000 after buying an additional 39,840 shares during the last quarter. Institutional investors own 64.36% of the company’s stock.

About Kelly Services

Kelly Services, Inc is a workforce solutions provider. The Company provides workforce solutions in over three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). It operates in seven segments: Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), APAC Commercial, APAC Professional and Technical (APAC PT), and Outsourcing and Consulting Group (OCG).

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