Barrington Research Lowers Kelly Services (NASDAQ:KELYA) Price Target to $15.00

Kelly Services (NASDAQ:KELYA) had its target price reduced by stock analysts at Barrington Research from $16.00 to $15.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Barrington Research’s price objective would indicate a potential upside of 54.80% from the company’s current price.

A number of other equities analysts have also commented on the stock. Wall Street Zen lowered Kelly Services from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Zacks Research raised shares of Kelly Services from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Kelly Services in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.00.

Kelly Services Stock Performance

KELYA traded down $0.09 during trading hours on Friday, hitting $9.69. 298,314 shares of the stock were exchanged, compared to its average volume of 558,964. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.59 and a quick ratio of 1.59. Kelly Services has a 12 month low of $7.98 and a 12 month high of $14.94. The stock has a 50-day simple moving average of $9.53 and a 200-day simple moving average of $11.23. The stock has a market cap of $342.44 million, a price-to-earnings ratio of -2.16, a price-to-earnings-growth ratio of 0.44 and a beta of 0.79.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Thursday, February 12th. The business services provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.29). Kelly Services had a positive return on equity of 5.74% and a negative net margin of 3.58%.The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Analysts anticipate that Kelly Services will post 2.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Quarry LP raised its holdings in shares of Kelly Services by 173.2% in the 3rd quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 1,249 shares during the period. Versant Capital Management Inc boosted its stake in shares of Kelly Services by 52.0% during the 3rd quarter. Versant Capital Management Inc now owns 3,006 shares of the business services provider’s stock worth $39,000 after acquiring an additional 1,028 shares during the period. Meeder Asset Management Inc. bought a new stake in Kelly Services in the 4th quarter valued at $42,000. GAMMA Investing LLC lifted its holdings in Kelly Services by 175.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,385 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 2,156 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Kelly Services by 83.5% during the second quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider’s stock worth $51,000 after purchasing an additional 1,967 shares during the period. Institutional investors own 76.34% of the company’s stock.

About Kelly Services

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.