Kelly Services (NASDAQ:KELYA) Coverage Initiated by Analysts at Noble Financial

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.

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

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.

Featured Story: Trade War

Receive News & Ratings for Kelly Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kelly Services and related companies with MarketBeat.com's FREE daily email newsletter.