Kelly Services (NASDAQ:KELYA) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Kelly Services from a "strong sell" to a "hold"; the stock carries a consensus rating of Hold with a consensus target price of $15.00.
• The company missed quarterly EPS expectations (reported $0.16 vs. est. $0.45) while posting $1.05B in revenue, and the stock trades around $9.51 with a market cap of about $325M and a negative P/E.
• Insiders have been buying shares recently — CEO Christopher D. Layden bought 10,100 shares at $8.80 and insiders purchased 35,200 shares in the last 90 days, bringing insider ownership to 3.90%.

Kelly Services (NASDAQ:KELYA - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Wall Street Zen upgraded Kelly Services from a "sell" rating to a "hold" rating in a report on Sunday, February 22nd. Barrington Research lowered their price objective on Kelly Services from $16.00 to $15.00 and set an "outperform" rating on the stock in a report on Friday, February 13th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Kelly Services in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $15.00.

Kelly Services Stock Performance

Shares of KELYA stock opened at $9.51 on Monday. The firm has a market capitalization of $325.36 million, a price-to-earnings ratio of -1.31, a price-to-earnings-growth ratio of 0.70 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.54 and a quick ratio of 1.54. The business has a fifty day moving average of $9.11 and a 200 day moving average of $9.68. Kelly Services has a 1 year low of $7.98 and a 1 year high of $14.94.

Kelly Services (NASDAQ:KELYA - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The business services provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.29). The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Kelly Services had a positive return on equity of 4.05% and a negative net margin of 5.98%. As a group, research analysts expect that Kelly Services will post 1.05 earnings per share for the current year.

Insider Activity at Kelly Services

In other news, CEO Christopher D. Layden purchased 10,100 shares of Kelly Services stock in a transaction dated Tuesday, March 24th. The shares were purchased at an average price 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. This represents a 2.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Christopher Hunt purchased 4,000 shares of Kelly Services stock in a transaction dated Wednesday, February 25th. The shares were purchased at an average cost of $9.30 per share, for a total transaction of $37,200.00. Following the transaction, the director owned 29,976 shares in the company, valued at approximately $278,776.80. This trade represents a 15.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 35,200 shares of company stock worth $327,137. Corporate insiders own 3.90% of the company's stock.

Institutional Trading of Kelly Services

Several institutional investors have recently made changes to their positions in the company. Quarry LP raised its position in Kelly Services by 173.2% in the third quarter. Quarry LP now owns 1,970 shares of the business services provider's stock valued at $26,000 after purchasing an additional 1,249 shares during the period. CANADA LIFE ASSURANCE Co purchased a new stake in Kelly Services in the fourth quarter valued at approximately $30,000. Versant Capital Management Inc raised its position in Kelly Services by 52.0% in the third quarter. Versant Capital Management Inc now owns 3,006 shares of the business services provider's stock valued at $39,000 after purchasing an additional 1,028 shares during the period. Meeder Asset Management Inc. purchased a new stake in Kelly Services in the fourth quarter valued at approximately $42,000. Finally, GAMMA Investing LLC raised its position in Kelly Services by 175.4% in the third quarter. GAMMA Investing LLC now owns 3,385 shares of the business services provider's stock valued at $44,000 after purchasing an additional 2,156 shares during the period. Hedge funds and other institutional investors 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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