Barrington Research Cuts Kelly Services (NASDAQ:KELYA) Price Target to $25.00

Kelly Services (NASDAQ:KELYA) had its price target cut by Barrington Research from $29.00 to $25.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

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

Kelly Services Stock Down 0.9 %

Shares of NASDAQ KELYA opened at $13.96 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $497.12 million, a PE ratio of 12.14, a price-to-earnings-growth ratio of 0.54 and a beta of 1.20. The firm’s 50-day moving average is $19.56 and its 200-day moving average is $20.85. Kelly Services has a 1 year low of $13.75 and a 1 year high of $25.27.

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

Kelly Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Wednesday, November 20th. Kelly Services’s dividend payout ratio (DPR) is 26.09%.

Insider Activity at Kelly Services

In related news, SVP Daniel H. Malan acquired 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average cost of $13.88 per share, with a total value of $48,580.00. Following the transaction, the senior vice president now owns 95,906 shares of the company’s stock, valued at $1,331,175.28. The trade was a 3.79 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.90% of the stock is owned by corporate insiders.

Institutional Trading of Kelly Services

Several hedge funds and other institutional investors have recently modified their holdings of KELYA. BNP Paribas Financial Markets boosted its stake in shares of Kelly Services by 38.9% during the 1st quarter. BNP Paribas Financial Markets now owns 22,576 shares of the business services provider’s stock worth $565,000 after buying an additional 6,325 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Kelly Services during the 1st quarter worth approximately $125,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of Kelly Services by 97.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,720 shares of the business services provider’s stock valued at $469,000 after buying an additional 9,228 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Kelly Services by 73.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 59,416 shares of the business services provider’s stock valued at $1,488,000 after buying an additional 25,219 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Kelly Services during the first quarter worth $177,000. 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.