Kelly Services (NASDAQ:KELYA) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Kelly Services shares rose above their 200-day moving average during Wednesday’s session, trading as high as $14.57 and last changing hands at $14.33. The move came with solid volume of 282,409 shares.
• Analyst sentiment is mixed but slightly constructive, with a consensus rating of “Hold” and an average target price of $15.00. Recent actions included Zacks upgrading the stock to Hold and Barrington Research reiterating an Outperform rating.
• Recent fundamentals were mixed: Kelly Services missed EPS estimates in its latest quarter but beat revenue expectations, and it also pays a quarterly dividend that annualizes to $0.30 per share for a 2.1% yield.

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.22 and traded as high as $14.57. Kelly Services shares last traded at $14.33, with a volume of 282,409 shares traded.

Analyst Ratings Changes

A number of research firms have commented on KELYA. Zacks Research upgraded shares of Kelly Services from a "strong sell" rating to a "hold" rating in a research note on Monday, April 20th. Barrington Research reissued an "outperform" rating on shares of Kelly Services in a report on Monday, June 29th. Finally, Weiss Ratings cut Kelly Services from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $15.00.

Kelly Services Price Performance

The company has a market cap of $496.82 million, a price-to-earnings ratio of -1.89, a PEG ratio of 1.07 and a beta of 0.84. The company's 50 day moving average price is $11.66 and its 200 day moving average price is $10.22. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.13.

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

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were paid a $0.075 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.1%. Kelly Services's payout ratio is -3.95%.

Insiders Place Their Bets

In other Kelly Services news, EVP Vanessa Peterson Williams sold 29,999 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $9.78, for a total value of $293,390.22. Following the completion of the transaction, the executive vice president owned 82,355 shares in the company, valued at approximately $805,431.90. This represents a 26.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kelly Services

A number of institutional investors and hedge funds have recently made changes to their positions in KELYA. Quarry LP boosted its holdings in Kelly Services by 173.2% during the third quarter. Quarry LP now owns 1,970 shares of the business services provider's stock worth $26,000 after buying an additional 1,249 shares in the last quarter. CANADA LIFE ASSURANCE Co purchased a new position in Kelly Services in the fourth quarter valued at about $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Kelly Services during the 4th quarter valued at approximately $42,000. Tower Research Capital LLC TRC boosted its stake in shares of Kelly Services by 83.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider's stock worth $51,000 after acquiring an additional 1,967 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Kelly Services by 284.2% during the 4th quarter. State of Alaska Department of Revenue now owns 7,220 shares of the business services provider's stock worth $63,000 after acquiring an additional 5,341 shares in the last quarter. 76.34% of the stock is 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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