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

Key Points

• Kelly Services shares rose above their 200-day moving average, reaching $15.90 and last trading at $15.80, compared with a 200-day average of $12.86.
• Analyst sentiment is mixed: the stock has one Buy, one Hold and one Sell rating, resulting in an average “Hold” rating and a $20 price target.
• The company beat quarterly earnings expectations with $0.37 in EPS versus $0.18 forecast and $1.04 billion in revenue; it also pays a $0.30 annualized dividend, yielding about 1.9%.

Shares of Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $12.86 and traded as high as $15.90. Kelly Services shares last traded at $15.80, with a volume of 203,587 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Kelly Services from a "buy" rating to a "hold" rating in a report on Saturday, September 26th. Barrington Research boosted their target price on shares of Kelly Services from $15.00 to $20.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Kelly Services from a "sell (d-)" rating to a "sell (d)" rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Kelly Services has an average rating of "Hold" and an average target price of $20.00.

Kelly Services Price Performance

The company has a fifty day moving average of $16.21 and a 200-day moving average of $12.86. The firm has a market cap of $548.73 million, a P/E ratio of -2.02, a P/E/G ratio of 1.10 and a beta of 0.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 1.50.

Kelly Services (NASDAQ:KELYA - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.19. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Kelly Services had a positive return on equity of 2.69% and a negative net margin of 6.73%.During the same period in the prior year, the firm posted $0.52 EPS. On average, sell-side analysts anticipate that Kelly Services, Inc. will post 1.1 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were issued a $0.0750 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.30 annualized dividend and a dividend yield of 1.9%. Kelly Services's dividend payout ratio is currently -3.84%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Kelly Services by 19.9% during the 2nd quarter. GAMMA Investing LLC now owns 6,153 shares of the business services provider's stock valued at $76,000 after buying an additional 1,023 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Kelly Services by 11.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 21,006 shares of the business services provider's stock worth $182,000 after buying an additional 2,156 shares in the last quarter. Strs Ohio boosted its position in shares of Kelly Services by 3.4% in the first quarter. Strs Ohio now owns 66,100 shares of the business services provider's stock valued at $585,000 after acquiring an additional 2,200 shares during the period. Versant Capital Management Inc boosted its position in shares of Kelly Services by 47.0% in the second quarter. Versant Capital Management Inc now owns 7,351 shares of the business services provider's stock valued at $90,000 after acquiring an additional 2,351 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new position in Kelly Services during the second quarter valued at approximately $45,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

About Kelly Services

Kelly Services, Inc is a workforce solutions and talent management company that connects employers with workers across a range of industries and skill levels. The company provides temporary, contract-to-hire and direct-hire staffing, as well as recruiting, workforce management and outsourcing services.

Its offerings support organizations in areas including professional and industrial staffing, education, science and clinical services, engineering, and office and administrative functions.

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