Kelly Services (NASDAQ:KELYA) Hits New 12-Month High - Time to Buy?

Key Points

• Kelly Services shares reached a new 52-week high, trading as high as $16.67 and last at $17.2630, well above the $15.00 analyst consensus price target.
• Analyst sentiment remains mixed, with a consensus rating of “Hold”: two analysts rate the stock a Buy, one a Hold and one a Sell.
• The company reported quarterly EPS of $0.03, missing estimates of $0.07, while revenue of $1.04 billion exceeded expectations. Kelly Services posted a negative net margin of 6.44%, and an executive recently sold nearly 30,000 shares.

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $16.67 and last traded at $17.2630, with a volume of 2435 shares. The stock had previously closed at $15.22.

Analysts Set New Price Targets

Several brokerages have commented on KELYA. Weiss Ratings downgraded shares of Kelly Services from a "sell (d)" rating to a "sell (d-)" rating in a report on Monday, May 11th. Zacks Research raised Kelly Services from a "strong sell" rating to a "hold" rating in a research report on Monday, April 20th. Finally, Barrington Research reiterated an "outperform" rating on shares of Kelly Services in a report on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Kelly Services has a consensus rating of "Hold" and a consensus target price of $15.00.

Kelly Services Stock Performance

The business's 50-day simple moving average is $13.22 and its 200 day simple moving average is $10.87. The firm has a market cap of $535.48 million, a P/E ratio of -2.06, a P/E/G ratio of 1.16 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.59 and a current ratio of 1.59.

Kelly Services (NASDAQ:KELYA - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04). The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Kelly Services had a negative net margin of 6.44% and a positive return on equity of 3.07%. As a group, equities analysts predict that Kelly Services, Inc. will post 1.01 earnings per share for the current year.

Insider Buying and Selling at Kelly Services

In other news, EVP Vanessa Peterson Williams sold 29,999 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was 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. The trade was a 26.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Kelly Services

Several institutional investors and hedge funds have recently modified their holdings of KELYA. RBF Capital LLC acquired a new stake in Kelly Services during the fourth quarter valued at $1,161,000. JB Capital Partners LP grew its position in shares of 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 valued at $1,823,000 after acquiring an additional 89,674 shares during the period. Fifth Third Bancorp acquired a new stake in shares of Kelly Services during the 1st quarter valued at about $4,371,000. Mangrove Partners IM LLC purchased a new position in shares of Kelly Services in the 4th quarter valued at about $619,000. Finally, Prescott Group Capital Management L.L.C. acquired a new position in Kelly Services in the 4th quarter worth about $488,000. Institutional investors and hedge funds own 76.34% of the company's stock.

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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