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

Kelly Services (NASDAQ:KELYA)‘s stock had its “outperform” rating reissued by investment analysts at Barrington Research in a report issued on Wednesday,Benzinga reports. They currently have a $25.00 price target on the business services provider’s stock. Barrington Research’s price objective would indicate a potential upside of 75.44% from the stock’s current price.

Kelly Services Stock Performance

KELYA opened at $14.25 on Wednesday. Kelly Services has a 52-week low of $12.68 and a 52-week high of $25.27. The firm has a market capitalization of $507.44 million, a PE ratio of 12.39, a PEG ratio of 0.40 and a beta of 1.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61. The business’s 50-day simple moving average is $13.81 and its 200 day simple moving average is $17.50.

Kelly Services (NASDAQ:KELYA) last released 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. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. As a group, sell-side analysts expect that Kelly Services will post 1.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Kelly Services news, SVP Daniel H. Malan purchased 3,500 shares of the stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $13.88 per share, with a total value of $48,580.00. Following the completion of the transaction, the senior vice president now directly owns 95,906 shares in the company, valued at $1,331,175.28. This represents a 3.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kelly Services

A number of institutional investors have recently bought and sold shares of the business. US Bancorp DE increased its position in 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 buying an additional 866 shares during the last quarter. Exchange Traded Concepts LLC increased its position in 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 buying an additional 945 shares during the last quarter. Palouse Capital Management Inc. increased its position in 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 buying an additional 950 shares during the last quarter. Federated Hermes Inc. increased its position in 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 buying an additional 1,076 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in 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 buying an additional 1,406 shares during the last quarter. 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.