Kelly Services (NASDAQ:KELYA) Downgraded by BidaskClub

BidaskClub lowered shares of Kelly Services (NASDAQ:KELYA) from a strong-buy rating to a buy rating in a research note released on Wednesday morning, BidAskClub reports.

Several other analysts have also recently issued reports on KELYA. ValuEngine raised shares of Kelly Services from a sell rating to a hold rating in a research note on Tuesday, May 7th. TheStreet raised shares of Kelly Services from a c+ rating to a b rating in a research note on Monday, May 6th. Zacks Investment Research cut shares of Kelly Services from a hold rating to a sell rating in a research note on Tuesday, August 13th. Finally, Noble Financial began coverage on shares of Kelly Services in a research note on Tuesday, July 30th. They set an outperform rating and a $32.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $30.00.

KELYA opened at $25.30 on Wednesday. Kelly Services has a twelve month low of $19.21 and a twelve month high of $28.91. The company has a market cap of $1.02 billion, a PE ratio of 10.26 and a beta of 0.76. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $27.07 and a 200 day moving average price of $24.57.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.16. Kelly Services had a net margin of 2.09% and a return on equity of 8.41%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the company earned $0.54 EPS. Kelly Services’s revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Kelly Services will post 2.28 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 20th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.30 annualized dividend and a yield of 1.19%. Kelly Services’s dividend payout ratio is presently 13.22%.

In related news, insider James Polehna sold 1,784 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $27.42, for a total transaction of $48,917.28. Following the completion of the sale, the insider now owns 21,399 shares of the company’s stock, valued at approximately $586,760.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 7.20% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Palouse Capital Management Inc. grew its stake in shares of Kelly Services by 5.0% in the 1st quarter. Palouse Capital Management Inc. now owns 11,406 shares of the business services provider’s stock valued at $252,000 after buying an additional 543 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Kelly Services by 9.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 6,929 shares of the business services provider’s stock worth $182,000 after purchasing an additional 586 shares during the period. Panagora Asset Management Inc. boosted its position in shares of Kelly Services by 20.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 3,618 shares of the business services provider’s stock worth $95,000 after purchasing an additional 618 shares during the period. Comerica Bank boosted its position in shares of Kelly Services by 2.4% during the 1st quarter. Comerica Bank now owns 31,290 shares of the business services provider’s stock worth $709,000 after purchasing an additional 719 shares during the period. Finally, James Investment Research Inc. boosted its position in shares of Kelly Services by 3.6% during the 1st quarter. James Investment Research Inc. now owns 21,610 shares of the business services provider’s stock worth $477,000 after purchasing an additional 755 shares during the period. 65.94% of the stock is owned by institutional investors and hedge funds.

Kelly Services Company Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions, and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.

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