Barrington Research Issues Pessimistic Forecast for Kelly Services (NASDAQ:KELYA) Stock Price

Kelly Services (NASDAQ:KELYA) had its price target decreased by equities research analysts at Barrington Research from $29.00 to $25.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Barrington Research’s target price points to a potential upside of 76.55% from the company’s current price.

Separately, StockNews.com lowered Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.

Kelly Services Stock Performance

Shares of NASDAQ KELYA opened at $14.16 on Monday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $19.70 and a two-hundred day simple moving average of $20.92. The firm has a market cap of $504.24 million, a PE ratio of 12.31, a price-to-earnings-growth ratio of 0.54 and a beta of 1.20. Kelly Services has a twelve month low of $13.89 and a twelve month high of $25.27.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.07 billion. Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share. Analysts expect that Kelly Services will post 2.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. bought a new position in shares of Kelly Services in the 2nd quarter worth $30,000. Innealta Capital LLC purchased a new position in Kelly Services during the 2nd quarter worth $39,000. nVerses Capital LLC purchased a new position in Kelly Services during the 2nd quarter worth $47,000. Meeder Asset Management Inc. purchased a new position in Kelly Services during the 2nd quarter worth $51,000. Finally, SG Americas Securities LLC purchased a new position in Kelly Services during the 1st quarter worth $125,000. 76.34% of the stock is owned by institutional investors.

About Kelly Services

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.