Kelly Services (NASDAQ:KELYA) rating lowered to hold at StockNews.com

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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

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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.

Further reading

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