Kelly Services (NASDAQ:KELYA) Stock Dropped to "Hold" by Wall Street Zen

Key Points

• Wall Street Zen downgraded Kelly Services from “Buy” to “Hold,” while the broader analyst consensus also stands at “Hold” with a $20 price target.
• Kelly Services reported quarterly EPS of $0.37, beating the $0.18 consensus estimate, and revenue of $1.04 billion versus expectations of $1.01 billion.
• The stock opened at $16.48, near its 52-week high of $17.75, while institutional investors and hedge funds own approximately 76.34% of outstanding shares.

Kelly Services (NASDAQ:KELYA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

A number of other research firms have also recently weighed in on KELYA. Barrington Research raised their price objective on Kelly Services from $15.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Weiss Ratings upgraded Kelly Services from a "sell (d-)" rating to a "sell (d)" rating in a research note on Friday, August 21st. One 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $20.00.

Kelly Services Stock Performance

Shares of KELYA stock opened at $16.48 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The firm has a market cap of $572.35 million, a price-to-earnings ratio of -2.11, a PEG ratio of 1.15 and a beta of 0.87. The company's 50 day moving average is $16.11 and its 200 day moving average is $12.52. Kelly Services has a 52-week low of $7.98 and a 52-week high of $17.75.

Kelly Services (NASDAQ:KELYA - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.19. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate 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 business posted $0.52 EPS. On average, sell-side analysts anticipate that Kelly Services will post 1.1 EPS for the current fiscal year.

Institutional Trading of Kelly Services

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp purchased a new stake in shares of Kelly Services during the 1st quarter valued at approximately $4,371,000. Donald Smith & CO. Inc. purchased a new stake in shares of Kelly Services in the 2nd quarter valued at $5,704,000. RBF Capital LLC acquired a new stake in shares of Kelly Services during the fourth quarter worth about $1,161,000. JB Capital Partners LP lifted its holdings in Kelly Services by 76.3% during the 4th quarter. JB Capital Partners LP now owns 207,160 shares of the business services provider's stock worth $1,823,000 after buying an additional 89,674 shares in the last quarter. Finally, Mangrove Partners IM LLC acquired a new position in shares of Kelly Services in the fourth quarter worth $619,000. Hedge funds and other institutional investors own 76.34% of the company's stock.

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.

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