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

Kelly Services (NASDAQ:KELYA)‘s stock had its “outperform” rating reiterated by equities researchers at Barrington Research in a research note issued on Wednesday,Benzinga reports. They presently have a $25.00 price target on the business services provider’s stock. Barrington Research’s price objective would suggest a potential upside of 75.44% from the stock’s previous close.

Kelly Services Price Performance

Kelly Services stock opened at $14.25 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market capitalization of $507.44 million, a PE ratio of 12.39, a price-to-earnings-growth ratio of 0.40 and a beta of 1.11. Kelly Services has a one year low of $12.68 and a one year high of $25.27. The business has a 50 day simple moving average of $13.81 and a 200 day simple moving average of $17.50.

Kelly Services (NASDAQ:KELYA) last posted its earnings results on Thursday, February 13th. The business services provider reported $0.82 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%. On average, sell-side analysts forecast that Kelly Services will post 1.93 EPS for the current fiscal year.

Insider Buying and Selling at Kelly Services

In other Kelly Services news, SVP Daniel H. Malan acquired 3,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was purchased at an average price of $13.88 per share, for a total transaction of $48,580.00. Following the transaction, the senior vice president now owns 95,906 shares in the company, valued at $1,331,175.28. This trade represents a 3.79 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Kelly Services

Several hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE increased its stake in shares of Kelly Services by 9.3% in the 3rd quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock valued at $217,000 after buying an additional 866 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Kelly Services by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 37,404 shares of the business services provider’s stock valued at $521,000 after buying an additional 945 shares during the period. Palouse Capital Management Inc. increased its stake in shares of Kelly Services by 13.1% in the 4th quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider’s stock valued at $114,000 after buying an additional 950 shares during the period. Federated Hermes Inc. grew its stake 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 purchasing an additional 1,076 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake 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 purchasing an additional 1,406 shares during the period. 76.34% of the stock is owned by institutional investors and hedge funds.

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.