Kelly Services (NASDAQ:KELYA) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Kelly Services (NASDAQ:KELYA) from a buy rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

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

Kelly Services Stock Performance

Shares of KELYA stock opened at $16.48 on Friday. The company has a market cap of $572.35 million, a P/E ratio of -2.11, a PEG ratio of 1.15 and a beta of 0.87. The firm has a fifty day moving average price of $16.11 and a 200 day moving average price of $12.52. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.08. Kelly Services has a 12 month low of $7.98 and a 12 month high of $17.75.

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

Kelly Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were issued a $0.0750 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, August 19th. Kelly Services’s dividend payout ratio is presently -3.84%.

Hedge Funds Weigh In On Kelly Services

A number of institutional investors have recently modified their holdings of the business. Donald Smith & CO. Inc. acquired a new stake in Kelly Services during the 2nd quarter worth $5,704,000. RBF Capital LLC acquired a new position in Kelly Services in the fourth quarter valued at $1,161,000. JB Capital Partners LP increased its stake in Kelly Services by 76.3% in the fourth quarter. JB Capital Partners LP now owns 207,160 shares of the business services provider’s stock valued at $1,823,000 after purchasing an additional 89,674 shares during the period. Fifth Third Bancorp purchased a new stake in shares of Kelly Services in the first quarter valued at about $4,371,000. Finally, Quantinno Capital Management LP raised its holdings in shares of Kelly Services by 34.5% in the first quarter. Quantinno Capital Management LP now owns 189,010 shares of the business services provider’s stock valued at $1,673,000 after buying an additional 48,431 shares during the last quarter. 76.34% of the stock is owned by institutional investors and hedge funds.

Kelly Services Company Profile

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.