TheStreet Upgrades Kelly Services (KELYA) to “B”

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TheStreet upgraded shares of Kelly Services (NASDAQ:KELYA) from a c+ rating to a b rating in a report issued on Monday, TheStreetRatingsTable reports.

Other equities research analysts have also recently issued reports about the stock. BidaskClub raised shares of Kelly Services from a buy rating to a strong-buy rating in a research report on Monday, January 7th. Zacks Investment Research cut shares of Kelly Services from a buy rating to a hold rating in a research report on Wednesday, February 6th. Finally, ValuEngine cut shares of Kelly Services from a hold rating to a sell rating in a research report on Monday, February 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $32.00.

Shares of KELYA opened at $25.08 on Monday. The firm has a market cap of $974.91 million, a price-to-earnings ratio of 11.05 and a beta of 0.80. Kelly Services has a twelve month low of $19.21 and a twelve month high of $31.03.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Monday, May 6th. The business services provider reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.10. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Kelly Services had a net margin of 0.42% and a return on equity of 7.64%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 EPS. As a group, equities research analysts expect that Kelly Services will post 2.35 earnings per share for the current fiscal year.

In other news, insider Olivier Thirot sold 5,400 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $22.12, for a total value of $119,448.00. Following the completion of the sale, the insider now directly owns 73,802 shares of the company’s stock, valued at approximately $1,632,500.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Teresa Carroll sold 4,422 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $24.28, for a total transaction of $107,366.16. Following the completion of the sale, the executive vice president now directly owns 115,385 shares of the company’s stock, valued at $2,801,547.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,487 shares of company stock valued at $411,008. Corporate insiders own 7.20% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Kelly Services by 56.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,230 shares of the business services provider’s stock worth $46,000 after acquiring an additional 805 shares in the last quarter. Founders Capital Management bought a new position in shares of Kelly Services in the 4th quarter worth about $51,000. PNC Financial Services Group Inc. increased its stake in shares of Kelly Services by 47.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,771 shares of the business services provider’s stock worth $56,000 after acquiring an additional 891 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of Kelly Services by 593.3% in the 4th quarter. Meeder Asset Management Inc. now owns 3,945 shares of the business services provider’s stock worth $81,000 after acquiring an additional 3,376 shares in the last quarter. Finally, Denali Advisors LLC increased its stake in shares of Kelly Services by 6,285.7% in the 1st quarter. Denali Advisors LLC now owns 4,470 shares of the business services provider’s stock worth $99,000 after acquiring an additional 4,400 shares in the last quarter. Institutional investors own 67.32% of the company’s stock.

About Kelly Services

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.

Further Reading: How are institutional investors different from individual investors?

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