Kelly Services (NASDAQ:KELYA – Get Free Report)‘s stock had its “outperform” rating reissued by research analysts at Barrington Research in a report released on Friday, Benzinga reports. They presently have a $29.00 price objective on the business services provider’s stock. Barrington Research’s price target points to a potential upside of 36.41% from the company’s current price.
Separately, StockNews.com cut Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th.
Check Out Our Latest Research Report on Kelly Services
Kelly Services Price Performance
Kelly Services (NASDAQ:KELYA – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.15. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Kelly Services had a return on equity of 7.82% and a net margin of 1.09%. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS. Sell-side analysts forecast that Kelly Services will post 2.49 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Kelly Services
Hedge funds have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP increased its stake in Kelly Services by 36.2% in the second quarter. Brandes Investment Partners LP now owns 28,512 shares of the business services provider’s stock valued at $610,000 after purchasing an additional 7,576 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Kelly Services in the 2nd quarter valued at $30,000. Susquehanna Fundamental Investments LLC increased its position in shares of Kelly Services by 107.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,269 shares of the business services provider’s stock valued at $391,000 after buying an additional 9,449 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Kelly Services by 5.8% during the second quarter. AQR Capital Management LLC now owns 371,548 shares of the business services provider’s stock worth $7,955,000 after purchasing an additional 20,520 shares during the period. Finally, Squarepoint Ops LLC raised its holdings in shares of Kelly Services by 38.3% during the second quarter. Squarepoint Ops LLC now owns 17,408 shares of the business services provider’s stock worth $373,000 after acquiring an additional 4,822 shares during the period. Institutional investors and hedge funds own 76.34% of the company’s stock.
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.
See Also
- Five stocks we like better than Kelly Services
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- These 3 Stocks Show How to Navigate Declining Consumer Confidence
- What Are the U.K. Market Holidays? How to Invest and Trade
- MicroStrategy’s Returns Are 3X Higher Than Bitcoin: Time to Buy?
- How to Use the MarketBeat Stock Screener
- What Intuitive Machines’ Big NASA Contract Means for Investors
Receive News & Ratings for Kelly Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kelly Services and related companies with MarketBeat.com's FREE daily email newsletter.