Kelly Services (NASDAQ:KELYA – Get a Rating) was downgraded by StockNews.com analysts from a “buy” rating to a “hold” rating in a note released Friday to investors.
Separately, Barrington Research reaffirmed an “outperform” rating on Kelly Services shares in a Friday, May 27 research report.
Kelly Services Price Performance
Kelly Services stock traded at $1.63 in Friday’s midday session, hitting $18.41. 464,458 shares of the company were traded, against an average volume of 181,024. Kelly Services has a 12-month low of $15.89 and a 12-month high of $23.55. The company has a 50-day moving average of $19.96 and a two-hundred-day moving average of $20.01. The company has a market cap of $698.07 million, a price-to-earnings ratio of 9.02, a growth price-to-earnings ratio of 0.94, and a beta of 0.97.
Kelly Services (NASDAQ:KELYA – Get Rating) last released its quarterly earnings data on Thursday, August 11. The business services provider reported EPS of $0.45 for the quarter, missing the consensus estimate of $0.48 per ($0.03). Kelly Services had a return on equity of 5.71% and a net margin of 1.66%. The company posted revenue of $1.27 billion in the quarter, versus a consensus estimate of $1.28 billion. During the same period of the previous year, the company achieved EPS of $0.49. The company’s revenue increased 0.7% year-over-year. As a group, equity analysts expect Kelly Services to post EPS of 1.83 for the current year.
Hedge funds weigh on Kelly Services
Hedge funds have recently increased or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in Kelly Services during Q4 worth $27,000. UBS Group AG increased its equity stake in Kelly Services by 7,115.6% during the second quarter. UBS Group AG now owns 2,309 shares of the business services provider valued at $46,000 after purchasing an additional 2,277 shares during the period. Gladius Capital Management LP bought a new position in shares of Kelly Services in the fourth quarter worth about $60,000. KBC Group NV bought a new position in Kelly Services in the 2nd quarter for a value of approximately $61,000. Finally, Captrust Financial Advisors increased its stake in Kelly Services by 43.0% in the 1st quarter. Captrust Financial Advisors now owns 3,407 shares of the business services provider valued at $74,000 after buying an additional 1,024 shares last quarter. 70.49% of the shares are currently held by institutional investors.
Kelly Services Company Profile
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Kelly Services, Inc, along with its subsidiaries, provides workforce solutions to various industries. The Company operates through five segments: Professional & Industrial; Science, Engineering and Technology; Education; outsourcing and consulting; and International. The Professional and Industrial segment offers staffing, performance-based and direct hiring services in clerical, professional, light industrial and contact center specialties.
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