Kelly Services (NASDAQ:KELYA) Receives Outperform Rating from Barrington Research

Kelly Services (NASDAQ:KELYA)‘s stock had its “outperform” rating reaffirmed by equities researchers at Barrington Research in a report issued on Tuesday,Benzinga reports. They presently have a $25.00 price objective on the business services provider’s stock. Barrington Research’s price objective points to a potential upside of 98.57% from the company’s previous close.

Separately, StockNews.com cut shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Tuesday.

Kelly Services Stock Performance

Shares of NASDAQ:KELYA traded up $0.05 on Tuesday, hitting $12.59. The company had a trading volume of 86,662 shares, compared to its average volume of 308,950. The stock has a market cap of $439.24 million, a price-to-earnings ratio of -209.80, a P/E/G ratio of 0.43 and a beta of 0.96. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. Kelly Services has a 1-year low of $10.80 and a 1-year high of $23.81. The stock has a 50 day moving average price of $12.21 and a 200 day moving average price of $13.52.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Thursday, May 8th. The business services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.14). The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. Analysts expect that Kelly Services will post 2.45 EPS for the current year.

Institutional Trading of Kelly Services

A number of institutional investors have recently modified their holdings of KELYA. Boston Partners raised its position in shares of Kelly Services by 9.2% during the 1st quarter. Boston Partners now owns 2,062,292 shares of the business services provider’s stock valued at $26,622,000 after buying an additional 172,903 shares in the last quarter. Millennium Management LLC grew its position in shares of Kelly Services by 8.5% in the 1st quarter. Millennium Management LLC now owns 1,188,264 shares of the business services provider’s stock worth $15,649,000 after buying an additional 93,026 shares during the last quarter. American Century Companies Inc. increased its position in Kelly Services by 10.7% during the 4th quarter. American Century Companies Inc. now owns 897,155 shares of the business services provider’s stock valued at $12,506,000 after purchasing an additional 86,560 shares during the period. Geode Capital Management LLC increased its position in shares of Kelly Services by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 791,125 shares of the business services provider’s stock valued at $11,031,000 after buying an additional 9,464 shares during the period. Finally, Nuveen LLC purchased a new stake in Kelly Services in the first quarter worth about $8,739,000. 76.34% of the stock is currently owned by hedge funds and other 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.