Kelly Services (NASDAQ:KELYA) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Kelly Services from “hold” to “buy,” while the broader analyst consensus remains “Hold” with a $20.00 price target.
• Kelly Services reported quarterly EPS of $0.37, beating estimates of $0.18, and revenue of $1.04 billion versus expectations of $1.01 billion.
• Institutional investors own 76.34% of the company, with several hedge funds recently initiating or increasing positions in Kelly Services.

Kelly Services (NASDAQ:KELYA - Get Free Report) was upgraded by stock 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.

Several other analysts also recently weighed in on KELYA. Weiss Ratings upgraded Kelly Services from a "sell (d-)" rating to a "sell (d)" rating in a research note on Friday, August 21st. Barrington Research lifted their target price on Kelly Services from $15.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $20.00.

Kelly Services Price Performance

Shares of KELYA stock opened at $15.59 on Friday. The company has a market capitalization of $541.47 million, a P/E ratio of -2.00, a P/E/G ratio of 1.13 and a beta of 0.88. The company's 50-day simple moving average is $16.24 and its two-hundred day simple moving average is $13.03. Kelly Services has a one year low of $7.98 and a one year high of $17.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 1.50.

Kelly Services (NASDAQ:KELYA - Get Free Report) last posted its earnings results on Thursday, August 6th. The business services provider reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.19. Kelly Services had a positive return on equity of 2.69% and a negative net margin of 6.73%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. As a group, equities analysts anticipate that Kelly Services will post 1.10 EPS for the current year.

Hedge Funds Weigh In On Kelly Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. purchased a new stake in Kelly Services during the 2nd quarter valued at about $5,704,000. Fifth Third Bancorp purchased a new position in Kelly Services during the first quarter worth approximately $4,371,000. Bank of New York Mellon Corp boosted its stake in Kelly Services by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 347,605 shares of the business services provider's stock worth $3,076,000 after buying an additional 4,326 shares during the last quarter. JB Capital Partners LP grew its holdings in Kelly Services by 76.3% in the 4th quarter. JB Capital Partners LP now owns 207,160 shares of the business services provider's stock valued at $1,823,000 after buying an additional 89,674 shares in the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of Kelly Services by 34.5% in the 1st quarter. Quantinno Capital Management LP now owns 189,010 shares of the business services provider's stock worth $1,673,000 after acquiring an additional 48,431 shares during the last quarter. 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 talent management company that connects employers with workers across a range of industries and skill levels. The company provides temporary, contract-to-hire and direct-hire staffing, as well as recruiting, workforce management and outsourcing services.

Its offerings support organizations in areas including professional and industrial staffing, education, science and clinical services, engineering, and office and administrative functions.

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