ValuEngine Upgrades Kelly Services (KELYA) to Hold

Kelly Services (NASDAQ:KELYA) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Friday.

A number of other analysts have also weighed in on KELYA. BidaskClub raised shares of Kelly Services from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. Sidoti initiated coverage on shares of Kelly Services in a research note on Friday, August 24th. They issued a “buy” rating and a $37.00 price objective for the company. Finally, Zacks Investment Research raised shares of Kelly Services from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Kelly Services presently has an average rating of “Buy” and a consensus target price of $34.50.

Shares of KELYA opened at $24.48 on Friday. The firm has a market cap of $949.90 million, a PE ratio of 10.93 and a beta of 0.79. Kelly Services has a 12-month low of $21.44 and a 12-month high of $32.31.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Wednesday, August 8th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.11. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.41 billion. Kelly Services had a net margin of 0.99% and a return on equity of 7.62%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 earnings per share. As a group, sell-side analysts predict that Kelly Services will post 2.1 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Sei Investments Co. increased its holdings in shares of Kelly Services by 384.8% during the second quarter. Sei Investments Co. now owns 5,759 shares of the business services provider’s stock valued at $129,000 after acquiring an additional 4,571 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Kelly Services during the second quarter valued at about $161,000. Itau Unibanco Holding S.A. acquired a new position in shares of Kelly Services during the second quarter valued at about $186,000. Paloma Partners Management Co acquired a new position in shares of Kelly Services during the second quarter valued at about $219,000. Finally, SG Americas Securities LLC increased its holdings in shares of Kelly Services by 210.1% during the second quarter. SG Americas Securities LLC now owns 10,945 shares of the business services provider’s stock valued at $246,000 after acquiring an additional 7,416 shares in the last quarter. Institutional investors and hedge funds own 66.67% of the company’s stock.

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 (GTS), 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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