Kelly Services (NASDAQ:KELYA) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Kelly Services shares rose above their 200-day moving average, trading as high as $15.76 and last changing hands near $15.72, up 3.7%. The stock’s 200-day average was $10.59.
• Analyst sentiment remains mixed, with two Buy ratings, one Hold and one Sell; MarketBeat’s consensus rating is Hold with a $15.00 price target.
• The company’s latest quarterly results missed EPS expectations ($0.03 versus $0.07 forecast), despite revenue exceeding estimates. Kelly Services also pays a $0.30 annualized dividend, yielding approximately 1.9%.

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.59 and traded as high as $15.76. Kelly Services shares last traded at $15.72, with a volume of 388,788 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KELYA. Weiss Ratings lowered shares of Kelly Services from a "sell (d)" rating to a "sell (d-)" rating in a research note on Monday, May 11th. Barrington Research reissued an "outperform" rating on shares of Kelly Services in a research note on Monday, June 29th. Finally, Zacks Research upgraded Kelly Services from a "strong sell" rating to a "hold" rating in a 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 company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $15.00.

Kelly Services Trading Up 3.7%

The firm has a market cap of $545.01 million, a P/E ratio of -2.07, a P/E/G ratio of 1.15 and a beta of 0.84. The business's 50-day moving average is $12.55 and its two-hundred day moving average is $10.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.59 and a quick ratio of 1.59.

Kelly Services (NASDAQ:KELYA - Get Free Report) last issued its quarterly earnings results 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). Kelly Services had a negative net margin of 6.44% and a positive return on equity of 3.07%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, analysts predict that Kelly Services, Inc. will post 1.01 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were given a $0.075 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.9%. Kelly Services's payout ratio is currently -3.95%.

Insider Transactions 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 stock was sold at an average price of $9.78, for a total transaction of $293,390.22. Following the completion of the transaction, the executive vice president directly owned 82,355 shares of the company's stock, valued at approximately $805,431.90. This represents a 26.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Quarry LP boosted its holdings in shares of Kelly Services by 173.2% in the 3rd quarter. Quarry LP now owns 1,970 shares of the business services provider's stock valued at $26,000 after buying an additional 1,249 shares during the last quarter. CANADA LIFE ASSURANCE Co acquired a new position in Kelly Services during the fourth quarter worth $30,000. Meeder Asset Management Inc. acquired a new position in Kelly Services during the fourth quarter worth $42,000. Tower Research Capital LLC TRC raised its position in Kelly Services by 83.5% during the second 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 raised its position in Kelly Services by 284.2% during the fourth 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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.