Kelly Services (NASDAQ:KELYA) Stock Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Kelly Services shares rose above their 200-day moving average during Thursday’s trading, reaching as high as $11.69 and last trading near $11.66. The move came on volume of 644,949 shares, with the stock up about 3.7% on the day.
• Recent analyst sentiment has been mixed but generally improved, with multiple firms upgrading or maintaining the stock around Hold. MarketBeat reports a consensus rating of Hold and a consensus price target of $15.00.
• The company recently posted mixed quarterly results, missing EPS expectations but beating revenue estimates, and it also announced a quarterly dividend of $0.075 per share. The dividend implies a 2.6% yield, while insider trading activity showed the CEO bought shares and an EVP sold shares.

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.34 and traded as high as $11.69. Kelly Services shares last traded at $11.66, with a volume of 644,949 shares traded.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wall Street Zen upgraded Kelly Services from a "sell" rating to a "hold" rating in a research report on Sunday, February 22nd. Barrington Research lowered their price target on Kelly Services from $16.00 to $15.00 and set an "outperform" rating for the company in a research report on Friday, February 13th. Weiss Ratings lowered Kelly Services from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday, May 11th. 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 assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $15.00.

Kelly Services Stock Up 3.7%

The firm has a 50 day moving average price of $9.47 and a 200-day moving average price of $9.34. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.13. The firm has a market cap of $404.25 million, a PE ratio of -1.53, a PEG ratio of 0.85 and a beta of 0.79.

Kelly Services (NASDAQ:KELYA - Get Free Report) last announced 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 analysts' expectations of $1.02 billion. Kelly Services had a negative net margin of 6.44% and a positive return on equity of 3.07%. Research analysts forecast that Kelly Services, Inc. will post 1.01 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Monday, May 18th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, May 18th. Kelly Services's dividend payout ratio is currently -3.95%.

Insider Activity

In other Kelly Services news, CEO Christopher D. Layden acquired 10,100 shares of the stock in a transaction dated Tuesday, March 24th. The stock was acquired at an average cost of $8.80 per share, with a total value of $88,880.00. Following the transaction, the chief executive officer owned 382,513 shares in the company, valued at $3,366,114.40. The trade was a 2.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vanessa Peterson Williams sold 29,999 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $9.78, for a total value of $293,390.22. Following 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 SEC filing for this sale provides additional information. Corporate insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KELYA. Quarry LP boosted its position in shares of 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 in the last quarter. CANADA LIFE ASSURANCE Co acquired a new position in shares of Kelly Services during the 4th quarter worth about $30,000. Meeder Asset Management Inc. acquired a new position in shares of Kelly Services during the 4th quarter worth about $42,000. Tower Research Capital LLC TRC boosted its position 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 position 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.

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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