Barrington Research Reiterates Outperform Rating for Kelly Services (NASDAQ:KELYA)

Kelly Services (NASDAQ:KELYA)‘s stock had its “outperform” rating reiterated by research analysts at Barrington Research in a research note issued to investors on Friday, Benzinga reports. They currently have a $29.00 price target on the business services provider’s stock. Barrington Research’s price target indicates a potential upside of 37.31% from the stock’s previous close.

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

Kelly Services Price Performance

NASDAQ:KELYA opened at $21.12 on Friday. The firm has a market capitalization of $750.22 million, a price-to-earnings ratio of 15.19, a PEG ratio of 0.65 and a beta of 1.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.61. The business has a 50 day simple moving average of $21.11 and a 200-day simple moving average of $22.18. Kelly Services has a 1 year low of $17.40 and a 1 year high of $25.27.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.15. Kelly Services had a net margin of 1.09% and a return on equity of 7.82%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company earned $0.36 EPS. The firm’s revenue for the quarter was down 13.1% compared to the same quarter last year. Equities analysts forecast that Kelly Services will post 2.49 EPS for the current year.

Hedge Funds Weigh In On Kelly Services

Several hedge funds have recently modified their holdings of KELYA. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Kelly Services during the second quarter valued at about $30,000. Innealta Capital LLC purchased a new stake in Kelly Services in the second quarter valued at approximately $39,000. nVerses Capital LLC purchased a new stake in Kelly Services in the second quarter valued at approximately $47,000. Meeder Asset Management Inc. purchased a new stake in Kelly Services in the second quarter valued at approximately $51,000. Finally, SG Americas Securities LLC purchased a new stake in Kelly Services in the first quarter valued at approximately $125,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

Kelly Services Company Profile

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.