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

Key Points

• Wall Street Zen upgraded Kelly Services from “hold” to “buy,” while the broader analyst consensus remains “Hold” with an average price target of $20. Barrington Research also raised its target to $20 and assigned an “outperform” rating.
• Kelly Services reported quarterly earnings of $0.37 per share, beating the $0.18 consensus estimate, while revenue of $1.04 billion exceeded expectations of $1.01 billion.
• The stock opened at $15.88, near its 52-week high, and institutional investors own 76.34% of outstanding shares after several funds increased or initiated positions.

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

A number of other research firms also recently weighed in on KELYA. Barrington Research boosted their target price on shares of Kelly Services from $15.00 to $20.00 and gave the stock an "outperform" rating in a report 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 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 stock. According to data from MarketBeat.com, Kelly Services presently has an average rating of "Hold" and an average target price of $20.00.

Kelly Services Stock Down 0.3%

NASDAQ KELYA opened at $15.88 on Friday. The stock has a 50 day moving average price of $15.64 and a 200-day moving average price of $12.03. 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 quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $551.51 million, a P/E ratio of -2.03, a P/E/G ratio of 1.11 and a beta of 0.87.

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 for the quarter, topping the consensus estimate 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 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 earnings per share. As a group, equities analysts predict that Kelly Services will post 1.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KELYA. Private Management Group Inc. lifted its stake in Kelly Services by 101.8% in the fourth quarter. Private Management Group Inc. now owns 1,268,649 shares of the business services provider's stock worth $11,164,000 after purchasing an additional 640,076 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Kelly Services by 39.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,908,900 shares of the business services provider's stock valued at $16,798,000 after buying an additional 544,309 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Kelly Services by 594.2% in the fourth quarter. Millennium Management LLC now owns 623,723 shares of the business services provider's stock worth $5,489,000 after buying an additional 533,873 shares during the period. Fifth Third Bancorp purchased a new stake in shares of Kelly Services in the first quarter worth approximately $4,371,000. Finally, Donald Smith & CO. Inc. bought a new stake in shares of Kelly Services during the 2nd quarter worth approximately $5,704,000. Institutional investors own 76.34% of the company's stock.

Kelly Services Company Profile

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.

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