Kelly Services (NASDAQ:KELYA) Stock Price Breaks Above Fifty Day Moving Average – Should You Sell?

Kelly Services, Inc. (NASDAQ:KELYA) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $16.30 and traded as high as $16.61. Kelly Services shares last traded at $16.59, with a volume of 158,312 shares.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings upgraded shares of Kelly Services from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. Wall Street Zen raised shares of Kelly Services from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Finally, Barrington Research increased their price objective on shares of Kelly Services from $15.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Kelly Services has an average rating of “Hold” and an average target price of $20.00.

Kelly Services Trading Up 2.0%

The company has a market capitalization of $576.20 million, a P/E ratio of -2.12, a price-to-earnings-growth ratio of 1.14 and a beta of 0.88. The business has a fifty day moving average price of $16.30 and a 200 day moving average price of $12.50. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.08.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.19. The company had revenue of $1.04 billion during 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 in the prior year, the firm earned $0.52 earnings per share. On average, analysts expect that Kelly Services, Inc. will post 1.10 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

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

Hedge Funds Weigh In On Kelly Services

Large investors have recently bought and sold shares of the company. Signaturefd LLC grew its stake in shares of Kelly Services by 165.4% during the 3rd quarter. Signaturefd LLC now owns 1,754 shares of the business services provider’s stock worth $28,000 after acquiring an additional 1,093 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Kelly Services in the third quarter worth $41,000. Integrated Wealth Concepts LLC bought a new stake in shares of Kelly Services in the second quarter worth $45,000. GAMMA Investing LLC boosted its holdings in Kelly Services by 19.9% during the second quarter. GAMMA Investing LLC now owns 6,153 shares of the business services provider’s stock worth $76,000 after purchasing an additional 1,023 shares during the last quarter. Finally, Crescent Grove Advisors LLC acquired a new position in Kelly Services during the first quarter worth $88,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

Kelly Services Company Profile

Kelly Services, Inc is a workforce solutions company that provides staffing, recruiting, and talent-management services to employers. The company helps organizations address temporary, contract, direct-hire, and outsourced workforce needs across a range of industries and skill levels.

Its offerings include professional and industrial staffing, office and administrative support, science and engineering talent, education staffing, contact-center solutions, and workforce outsourcing and consulting.