Wall Street Zen Upgrades Kelly Services (NASDAQ:KELYA) to Buy

Kelly Services (NASDAQ:KELYA) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other brokerages have also recently issued reports on KELYA. Weiss Ratings raised shares of Kelly Services from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Barrington Research raised their target price on shares of Kelly Services from $15.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Kelly Services Price Performance

KELYA opened at $15.88 on Friday. The stock has a fifty day simple moving average of $15.64 and a two-hundred day simple moving average of $12.05. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.08. The company has a market cap of $551.51 million, a price-to-earnings ratio of -2.03, a price-to-earnings-growth ratio of 1.11 and a beta of 0.87. Kelly Services has a 12-month low of $7.98 and a 12-month high of $17.75.

Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, August 6th. The business services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.19. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Kelly Services had a negative net margin of 6.73% and a positive return on equity of 2.69%. During the same quarter in the previous year, the business posted $0.52 EPS. Research analysts predict that Kelly Services will post 1.1 earnings per share for the current fiscal year.

Institutional Trading of Kelly Services

Several institutional investors have recently bought and sold shares of KELYA. The Manufacturers Life Insurance Company raised its stake in shares of Kelly Services by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 11,949 shares of the business services provider’s stock worth $140,000 after purchasing an additional 905 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Kelly Services by 19.9% during the second quarter. GAMMA Investing LLC now owns 6,153 shares of the business services provider’s stock valued at $76,000 after buying an additional 1,023 shares during the last quarter. Quarry LP boosted its position in shares of Kelly Services by 173.2% during the third quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock valued at $26,000 after buying an additional 1,249 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its holdings in Kelly Services by 14.7% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 10,706 shares of the business services provider’s stock worth $94,000 after buying an additional 1,369 shares in the last quarter. Finally, Man Group plc increased its holdings in Kelly Services by 6.6% in the 2nd quarter. Man Group plc now owns 24,780 shares of the business services provider’s stock worth $290,000 after buying an additional 1,532 shares in the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.

About Kelly Services

Kelly Services, Inc is a workforce solutions and staffing company that connects employers with workers across a range of industries and skill levels. Its services include temporary staffing, direct-hire and professional recruiting, workforce management, and outsourcing solutions designed to help organizations manage their talent needs.

The company serves sectors including education, engineering, science, technology, healthcare, office administration, light industrial work, and contact centers.