Equities research analysts at Noble Financial assumed coverage on shares of Kelly Services (NASDAQ:KELYA) in a report released on Tuesday, July 30th, Marketbeat.com reports. The brokerage set an “outperform” rating and a $32.00 price target on the business services provider’s stock. Noble Financial’s price objective would indicate a potential upside of 22.37% from the company’s current price.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. BidaskClub raised shares of Kelly Services from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. ValuEngine raised shares of Kelly Services from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, TheStreet raised Kelly Services from a “c+” rating to a “b” rating in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $32.33.
Shares of NASDAQ KELYA traded down $0.58 during midday trading on Tuesday, reaching $26.15. The company’s stock had a trading volume of 87,930 shares, compared to its average volume of 135,833. Kelly Services has a 12-month low of $19.21 and a 12-month high of $28.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a 50 day moving average price of $27.09 and a 200-day moving average price of $24.56. The stock has a market capitalization of $1.06 billion, a P/E ratio of 11.52 and a beta of 0.76.
In other news, insider James Polehna sold 1,784 shares of the 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 directly owns 21,399 shares in the company, valued at $586,760.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 7.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Kelly Services by 3.5% during the second quarter. BlackRock Inc. now owns 4,820,333 shares of the business services provider’s stock valued at $126,245,000 after purchasing an additional 162,155 shares in the last quarter. Norges Bank bought a new stake in shares of Kelly Services during the fourth quarter valued at approximately $14,671,000. Bank of New York Mellon Corp increased its position in shares of Kelly Services by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 579,960 shares of the business services provider’s stock valued at $11,877,000 after acquiring an additional 30,260 shares in the last quarter. Walthausen & Co. LLC increased its position in shares of Kelly Services by 1.0% during the first quarter. Walthausen & Co. LLC now owns 455,830 shares of the business services provider’s stock valued at $10,056,000 after acquiring an additional 4,400 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Kelly Services by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 439,728 shares of the business services provider’s stock valued at $9,005,000 after acquiring an additional 20,074 shares in the last quarter. Institutional investors and hedge funds own 65.94% of the company’s stock.
About Kelly Services
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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