Zacks Investment Research upgraded shares of Kelly Services (NASDAQ:KELYA) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $32.00 target price on the business services provider’s stock.
According to Zacks, “Kelly Services, Inc. is a global leader of providing workforce solutions. Kelly Services, Inc. and its subsidiaries, offer a comprehensive array of outsourcing and consulting services as well as world-class staffing on a temporary, temporary-to-hire, and direct-hire basis. The company 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. “
KELYA has been the subject of several other research reports. ValuEngine upgraded shares of Kelly Services from a hold rating to a buy rating in a research report on Friday, February 2nd. BidaskClub upgraded shares of Kelly Services from a sell rating to a hold rating in a research report on Saturday, January 20th.
Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.18. Kelly Services had a net margin of 1.33% and a return on equity of 7.92%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm posted $0.55 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. sell-side analysts forecast that Kelly Services will post 2.35 earnings per share for the current year.
In other Kelly Services news, Director Leslie A. Murphy sold 7,500 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $28.69, for a total value of $215,175.00. Following the completion of the transaction, the director now directly owns 22,695 shares in the company, valued at $651,119.55. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 completion of the transaction, the chief executive officer now owns 193,473 shares of the company’s stock, valued at $5,428,852.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,400 shares of company stock valued at $499,800. Insiders own 16.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Kelly Services by 4.7% during the third quarter. Municipal Employees Retirement System of Michigan now owns 101,000 shares of the business services provider’s stock worth $2,534,000 after purchasing an additional 4,520 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Kelly Services during the third quarter worth approximately $954,000. Legal & General Group Plc boosted its holdings in shares of Kelly Services by 11.4% during the third quarter. Legal & General Group Plc now owns 59,097 shares of the business services provider’s stock worth $1,483,000 after purchasing an additional 6,059 shares during the period. Walthausen & Co. LLC acquired a new stake in shares of Kelly Services during the third quarter worth approximately $3,575,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Kelly Services by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 588,936 shares of the business services provider’s stock worth $14,776,000 after purchasing an additional 6,143 shares during the period. Institutional investors own 65.99% of the company’s stock.
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Kelly Services Company Profile
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).
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