Kelly Services (NASDAQ:KELYA) Given New $20.00 Price Target at Barrington Research

Key Points

• Barrington Research raised Kelly Services’ price target to $20 from $15 and maintained an “outperform” rating, implying 31.67% upside from the prior close.
• Kelly Services exceeded quarterly expectations, reporting $0.37 in EPS versus a $0.18 consensus estimate and revenue of $1.04 billion versus $1.01 billion expected.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $20 average target price; institutional investors own 76.34% of the company.

Kelly Services (NASDAQ:KELYA - Get Free Report) had its target price increased by equities research analysts at Barrington Research from $15.00 to $20.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the business services provider's stock. Barrington Research's target price suggests a potential upside of 31.67% from the stock's previous close.

A number of other equities analysts have also commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Kelly Services in a research note on Friday. Zacks Research upgraded Kelly Services from a "strong sell" rating to a "hold" rating in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $20.00.

Kelly Services Price Performance

NASDAQ:KELYA opened at $15.19 on Monday. Kelly Services has a 52 week low of $7.98 and a 52 week 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 firm's 50-day simple moving average is $13.37 and its 200 day simple moving average is $10.94. The firm has a market cap of $526.64 million, a price-to-earnings ratio of -1.94, a P/E/G ratio of 1.15 and a beta of 0.83.

Kelly Services (NASDAQ:KELYA - Get Free Report) last posted its quarterly earnings data 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. Kelly Services had a negative net margin of 6.73% and a positive return on equity of 2.69%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. As a group, sell-side analysts predict that Kelly Services will post 1.01 earnings per share for the current year.

Insider Buying and Selling at Kelly Services

In related news, EVP Vanessa Peterson Williams sold 29,999 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $9.78, for a total transaction of $293,390.22. Following the sale, the executive vice president owned 82,355 shares in the company, valued at approximately $805,431.90. This trade represents a 26.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KELYA. The Manufacturers Life Insurance Company lifted its holdings in Kelly Services by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 11,949 shares of the business services provider's stock valued at $140,000 after buying an additional 905 shares during the period. GAMMA Investing LLC boosted its position 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 valued at $76,000 after acquiring an additional 1,023 shares during the last quarter. Quarry LP grew its holdings in Kelly Services by 173.2% during the 3rd quarter. Quarry LP now owns 1,970 shares of the business services provider's stock worth $26,000 after acquiring an additional 1,249 shares during the period. Police & Firemen s Retirement System of New Jersey grew its holdings in Kelly Services by 14.7% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 10,706 shares of the business services provider's stock worth $94,000 after acquiring an additional 1,369 shares during the period. Finally, Man Group plc raised its position in shares of Kelly Services by 6.6% in the 2nd quarter. Man Group plc now owns 24,780 shares of the business services provider's stock worth $290,000 after acquiring an additional 1,532 shares in the last quarter. 76.34% of the stock is currently owned by institutional investors and hedge funds.

About Kelly Services

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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