Zacks Investment Research upgraded shares of Kelly Services (NASDAQ:KELYA) from a hold rating to a strong-buy rating in a research report released on Thursday, Zacks.com reports. The firm currently has $22.00 price objective on the business services provider’s stock.
According to Zacks, “Kelly Services, Inc. is a global leader of providing workforce solutions. Kelly Services, Inc. and its subsidiaries, offer a comprehensive array of outsourcing and consulting services as well as world-class staffing on a temporary, temporary-to-hire, and direct-hire basis. The company provides temporary office clerical, marketing, professional, technical, light industrial, home care services, management services and other business services to a diversified group of customers through offices located in major cities of the United States, Australia, Canada, Denmark, France, Ireland, Italy, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Russia, Spain, Switzerland and United Kingdom. Kelly Temporary Services provides office clerical, marketing, professional, technical, semi-skilled light industrial and management services. “
Several other equities research analysts have also weighed in on the stock. Noble Financial reiterated a buy rating and issued a $28.00 target price on shares of Kelly Services in a report on Sunday, February 16th. TheStreet downgraded shares of Kelly Services from a b rating to a c+ rating in a research report on Wednesday, November 6th. ValuEngine raised shares of Kelly Services from a sell rating to a hold rating in a research report on Friday, January 10th. Finally, BidaskClub raised shares of Kelly Services from a strong sell rating to a sell rating in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $25.00.
Kelly Services (NASDAQ:KELYA) last posted its earnings results on Thursday, February 13th. The business services provider reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.14. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.35 billion. Kelly Services had a net margin of 2.10% and a return on equity of 6.90%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.87 earnings per share. Equities analysts forecast that Kelly Services will post 2.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, February 24th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Friday, February 21st. Kelly Services’s dividend payout ratio is 13.89%.
In related news, Director George S. Corona sold 20,078 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $22.09, for a total value of $443,523.02. Following the completion of the transaction, the director now owns 146,721 shares of the company’s stock, valued at $3,241,066.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director George S. Corona sold 8,066 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $22.15, for a total transaction of $178,661.90. Following the completion of the transaction, the director now directly owns 117,041 shares of the company’s stock, valued at approximately $2,592,458.15. The disclosure for this sale can be found here. Insiders have sold 89,184 shares of company stock valued at $1,954,843 in the last three months. 7.20% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in Kelly Services by 4.3% in the fourth quarter. State Street Corp now owns 1,011,797 shares of the business services provider’s stock valued at $22,846,000 after acquiring an additional 41,729 shares during the last quarter. Walthausen & Co. LLC lifted its stake in Kelly Services by 17.5% in the fourth quarter. Walthausen & Co. LLC now owns 394,730 shares of the business services provider’s stock valued at $8,913,000 after acquiring an additional 58,710 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Kelly Services by 28.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 331,536 shares of the business services provider’s stock valued at $7,486,000 after acquiring an additional 74,285 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in Kelly Services by 96.6% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 315,391 shares of the business services provider’s stock valued at $7,122,000 after acquiring an additional 155,000 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Kelly Services by 13.8% in the fourth quarter. Acadian Asset Management LLC now owns 294,739 shares of the business services provider’s stock valued at $6,655,000 after acquiring an additional 35,845 shares during the last quarter. 68.79% 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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