Kelly Services' (KELYA) "Outperform" Rating Reiterated at Barrington Research

Kelly Services (NASDAQ:KELYA - Get Free Report)'s stock had its "outperform" rating restated by Barrington Research in a report issued on Wednesday,Benzinga reports. They currently have a $25.00 price objective on the business services provider's stock. Barrington Research's target price would suggest a potential upside of 76.80% from the company's previous close.

Kelly Services Stock Down 0.8 %

Shares of NASDAQ KELYA traded down $0.11 during midday trading on Wednesday, hitting $14.14. The stock had a trading volume of 374,805 shares, compared to its average volume of 261,028. The business's 50 day moving average is $13.81 and its 200-day moving average is $17.41. The company has a market cap of $503.53 million, a P/E ratio of 12.30, a PEG ratio of 0.40 and a beta of 1.11. Kelly Services has a 52 week low of $12.68 and a 52 week high of $25.27. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.18.

Kelly Services (NASDAQ:KELYA - Get Free Report) last issued its earnings results on Thursday, February 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.38. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. As a group, analysts predict that Kelly Services will post 1.93 EPS for the current year.

Insider Buying and Selling at Kelly Services

In other Kelly Services news, SVP Daniel H. Malan bought 3,500 shares of Kelly Services stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $13.88 per share, with a total value of $48,580.00. Following the completion of the acquisition, the senior vice president now owns 95,906 shares in the company, valued at approximately $1,331,175.28. This represents a 3.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kelly Services

Hedge funds have recently modified their holdings of the company. US Bancorp DE boosted its position in shares of Kelly Services by 9.3% during the third quarter. US Bancorp DE now owns 10,135 shares of the business services provider's stock worth $217,000 after acquiring an additional 866 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Kelly Services by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 37,404 shares of the business services provider's stock worth $521,000 after acquiring an additional 945 shares during the last quarter. Palouse Capital Management Inc. boosted its position in shares of Kelly Services by 13.1% during the fourth quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider's stock worth $114,000 after acquiring an additional 950 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Kelly Services by 9.6% during the fourth quarter. Federated Hermes Inc. now owns 12,240 shares of the business services provider's stock worth $171,000 after acquiring an additional 1,076 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Kelly Services by 49.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider's stock worth $60,000 after acquiring an additional 1,406 shares during the last quarter. 76.34% of the stock is currently 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.