Today, Kelly Services Inc. (KELYA) Upgraded at Zacks Investment Research

Today, Kelly Services Inc. (KELYA) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Kelly Services Inc. (NASDAQ:KELYA) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “KELLY SERVICES, INC. provides temporary office clerical, marketing, professional, technical, light industrial, home care services, management services and other business services to a diversified group of customers through offices located in major cities of the United States, Australia, Canada, Denmark, France, Ireland, Italy, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Russia, Spain, Switzerland and United Kingdom. Kelly Temporary Services provides office clerical, marketing, professional, technical, semi-skilled light industrial and management services. “

Shares of Kelly Services (NASDAQ:KELYA) opened at 18.68 on Wednesday. Kelly Services has a 52-week low of $14.35 and a 52-week high of $20.98. The company’s 50-day moving average is $19.03 and its 200-day moving average is $19.29. The firm has a market cap of $711.58 million, a P/E ratio of 11.49 and a beta of 1.75.

Kelly Services (NASDAQ:KELYA) last released its earnings results on Wednesday, August 10th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.39 billion. Kelly Services had a return on equity of 7.03% and a net margin of 1.14%. Kelly Services’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 earnings per share. Equities research analysts forecast that Kelly Services will post $1.57 earnings per share for the current fiscal year.

In other Kelly Services news, Director B Joseph White sold 7,899 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $19.11, for a total transaction of $150,949.89. Following the completion of the sale, the director now directly owns 22,090 shares in the company, valued at approximately $422,139.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Shelby Armstrong sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $19.36, for a total value of $348,480.00. Following the sale, the insider now owns 42,335 shares of the company’s stock, valued at $819,605.60. The disclosure for this sale can be found here. 16.10% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Kelly Services by 5.2% in the second quarter. Vanguard Group Inc. now owns 2,364,925 shares of the company’s stock worth $44,863,000 after buying an additional 116,027 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Kelly Services by 3.6% in the second quarter. BlackRock Fund Advisors now owns 1,998,529 shares of the company’s stock worth $37,912,000 after buying an additional 69,632 shares during the last quarter. Royce & Associates LP raised its stake in shares of Kelly Services by 4.6% in the second quarter. Royce & Associates LP now owns 1,167,200 shares of the company’s stock worth $22,142,000 after buying an additional 51,100 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Kelly Services by 4.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 771,735 shares of the company’s stock worth $14,640,000 after buying an additional 34,525 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Kelly Services by 7.2% in the second quarter. Bank of New York Mellon Corp now owns 414,379 shares of the company’s stock worth $7,861,000 after buying an additional 27,786 shares during the last quarter. Hedge funds and other institutional investors own 64.77% of the company’s stock.

About Kelly Services

Kelly Services, Inc is a workforce solutions provider. The Company provides workforce solutions in over three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). It operates in seven segments: Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), APAC Commercial, APAC Professional and Technical (APAC PT), and Outsourcing and Consulting Group (OCG).

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