Kelly Services (KELYA) Downgraded to Sell at BidaskClub

BidaskClub lowered shares of Kelly Services (NASDAQ:KELYA) from a hold rating to a sell rating in a report released on Thursday, January 4th.

Separately, Zacks Investment Research upgraded Kelly Services from a hold rating to a strong-buy rating and set a $32.00 target price for the company in a research note on Tuesday, November 14th.

Kelly Services (NASDAQ KELYA) traded up $0.30 during trading on Thursday, reaching $29.33. The company’s stock had a trading volume of 134,541 shares, compared to its average volume of 101,501. Kelly Services has a 1 year low of $20.27 and a 1 year high of $30.93. The firm has a market capitalization of $1,115.48, a price-to-earnings ratio of 15.36 and a beta of 1.11.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.27. Kelly Services had a return on equity of 7.25% and a net margin of 1.44%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company posted $0.44 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. sell-side analysts forecast that Kelly Services will post 2.04 earnings per share for the current fiscal year.

In other Kelly Services news, CEO George S. Corona sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $28.06, for a total transaction of $84,180.00. Following the transaction, the chief executive officer now owns 193,473 shares in the company, valued at $5,428,852.38. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jane E. Dutton sold 6,900 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $29.05, for a total value of $200,445.00. Following the transaction, the director now owns 24,180 shares in the company, valued at approximately $702,429. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,400 shares of company stock valued at $499,800. Corporate insiders own 16.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Schwab Charles Investment Management Inc. lifted its holdings in shares of Kelly Services by 7.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 445,130 shares of the business services provider’s stock valued at $9,994,000 after purchasing an additional 31,020 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Kelly Services by 1.9% during the 2nd quarter. Rhumbline Advisers now owns 60,724 shares of the business services provider’s stock valued at $1,363,000 after purchasing an additional 1,127 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Kelly Services during the 2nd quarter valued at about $117,000. Legal & General Group Plc lifted its holdings in shares of Kelly Services by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 53,038 shares of the business services provider’s stock valued at $1,191,000 after purchasing an additional 4,147 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Kelly Services by 49.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,079 shares of the business services provider’s stock valued at $271,000 after purchasing an additional 3,976 shares in the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this report on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be accessed at https://stocknewstimes.com/2018/01/20/kelly-services-kelya-downgraded-by-bidaskclub-to-sell.html.

About Kelly Services

Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).

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.

Latest News

Leave a Reply