Kelly Services (NASDAQ:KELYA) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Kelly Services shares crossed above their 200-day moving average, reaching $16.46 and last trading at $16.28, compared with a 200-day average of $12.34.
• Analyst opinions remain mixed: the stock has a consensus “Hold” rating and a $20 average price target, while Barrington Research upgraded it to “Outperform” and raised its target to $20.
• The company beat quarterly earnings and revenue estimates, reporting $0.37 EPS on $1.04 billion in revenue, and paid a quarterly dividend of $0.075 per share, equivalent to a 1.8% annualized yield.

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.34 and traded as high as $16.46. Kelly Services shares last traded at $16.28, with a volume of 235,635 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have commented on KELYA. Weiss Ratings raised shares of Kelly Services from a "sell (d-)" rating to a "sell (d)" rating in a report on Friday, August 21st. Wall Street Zen raised Kelly Services from a "hold" rating to a "buy" rating in a report on Saturday, September 12th. Finally, Barrington Research upped their target price on Kelly Services from $15.00 to $20.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. One investment analyst has 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 data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $20.00.

Kelly Services Stock Performance

The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.08. The firm's fifty day moving average price is $15.97 and its two-hundred day moving average price is $12.34. The stock has a market capitalization of $565.40 million, a PE ratio of -2.08, a price-to-earnings-growth ratio of 1.13 and a beta of 0.87.

Kelly Services (NASDAQ:KELYA - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.19. Kelly Services had a negative net margin of 6.73% and a positive return on equity of 2.69%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, equities research analysts forecast that Kelly Services, Inc. will post 1.1 EPS for the current year.

Kelly Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.8%. Kelly Services's dividend payout ratio (DPR) is -3.84%.

Hedge Funds Weigh In On Kelly Services

Hedge funds have recently bought and sold shares of the business. WINTON GROUP Ltd purchased a new stake in shares of Kelly Services in the second quarter valued at approximately $163,000. Integrated Wealth Concepts LLC acquired a new stake in Kelly Services in the 2nd quarter valued at $45,000. Mraz Amerine & Associates Inc. acquired a new stake in Kelly Services in the 2nd quarter valued at $243,000. Corient Private Wealth LP increased its holdings in Kelly Services by 23.8% in the 2nd quarter. Corient Private Wealth LP now owns 24,906 shares of the business services provider's stock worth $306,000 after acquiring an additional 4,796 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Kelly Services during the second quarter worth $755,000. Hedge funds and other institutional investors own 76.34% of the company's stock.

About Kelly Services

Kelly Services, Inc is a workforce solutions and staffing company that connects employers with workers across a range of industries and skill levels. Its services include temporary staffing, direct-hire and professional recruiting, workforce management, and outsourcing solutions designed to help organizations manage their talent needs.

The company serves sectors including education, engineering, science, technology, healthcare, office administration, light industrial work, and contact centers.

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