ValuEngine Downgrades Kelly Services (NASDAQ:KELYA) to Sell

Kelly Services (NASDAQ:KELYA) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report released on Wednesday, ValuEngine reports.

Several other analysts have also recently issued reports on the stock. BidaskClub cut shares of Kelly Services from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Northcoast Research downgraded shares of Kelly Services from a “buy” rating to a “neutral” rating in a report on Wednesday, August 28th. Noble Financial assumed coverage on shares of Kelly Services in a research note on Tuesday, July 30th. They issued an “outperform” rating and a $32.00 target price on the stock. Finally, Zacks Investment Research cut Kelly Services from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $30.00.

Shares of NASDAQ KELYA traded up $0.14 during midday trading on Wednesday, hitting $24.60. The stock had a trading volume of 147,674 shares, compared to its average volume of 139,590. The company has a market capitalization of $955.70 million, a PE ratio of 10.84 and a beta of 0.80. The stock has a 50 day simple moving average of $26.37 and a 200-day simple moving average of $24.60. Kelly Services has a 1 year low of $19.21 and a 1 year high of $28.91. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.04.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.16. Kelly Services had a return on equity of 8.41% and a net margin of 2.09%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis. As a group, analysts expect that Kelly Services will post 2.28 earnings per share for the current fiscal year.

In other Kelly Services news, CEO George S. Corona sold 29,110 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $25.18, for a total value of $732,989.80. Following the transaction, the chief executive officer now directly owns 213,311 shares in the company, valued at approximately $5,371,170.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Polehna sold 1,784 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $586,760.58. The disclosure for this sale can be found here. Insiders sold a total of 32,055 shares of company stock valued at $856,687 over the last ninety days. Corporate insiders own 7.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in KELYA. BlackRock Inc. raised its holdings in shares of Kelly Services by 3.5% in the 2nd quarter. BlackRock Inc. now owns 4,820,333 shares of the business services provider’s stock valued at $126,245,000 after buying an additional 162,155 shares during the period. Walthausen & Co. LLC increased its holdings in Kelly Services by 1.0% during the 1st quarter. Walthausen & Co. LLC now owns 455,830 shares of the business services provider’s stock worth $10,056,000 after purchasing an additional 4,400 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Kelly Services by 28.5% during the first quarter. JPMorgan Chase & Co. now owns 438,669 shares of the business services provider’s stock worth $9,677,000 after buying an additional 97,378 shares during the period. Northern Trust Corp increased its position in shares of Kelly Services by 2.9% in the 2nd quarter. Northern Trust Corp now owns 415,204 shares of the business services provider’s stock valued at $10,874,000 after purchasing an additional 11,826 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Kelly Services by 31.5% in the 2nd quarter. Wells Fargo & Company MN now owns 380,752 shares of the business services provider’s stock valued at $9,973,000 after purchasing an additional 91,296 shares during 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, 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: Beige Book

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

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.