Kelly Services (NASDAQ:KELYA) Receives Outperform Rating from Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Kelly Services (NASDAQ:KELYA) in a report published on Friday, Benzinga reports. They currently have a $29.00 price target 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 Price Performance

NASDAQ KELYA opened at $21.41 on Friday. Kelly Services has a 12 month low of $17.40 and a 12 month high of $25.27. The firm has a market capitalization of $760.53 million, a PE ratio of 15.40, a P/E/G ratio of 0.65 and a beta of 1.19. The company’s 50 day simple moving average is $21.09 and its 200 day simple moving average is $22.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.61.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.15. Kelly Services had a net margin of 1.09% and a return on equity of 7.82%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the company earned $0.36 EPS. Kelly Services’s revenue was down 13.1% on a year-over-year basis. As a group, equities research analysts forecast that Kelly Services will post 2.49 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.40%. Kelly Services’s dividend payout ratio is currently 21.58%.

Institutional Trading of Kelly Services

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of Kelly Services by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,707,721 shares of the business services provider’s stock valued at $57,972,000 after buying an additional 21,230 shares in the last quarter. Boston Partners acquired a new stake in Kelly Services during the 1st quarter worth about $18,618,000. American Century Companies Inc. grew its stake in Kelly Services by 35.9% during the 2nd quarter. American Century Companies Inc. now owns 682,857 shares of the business services provider’s stock valued at $14,620,000 after acquiring an additional 180,238 shares in the last quarter. LSV Asset Management increased its holdings in shares of Kelly Services by 5.2% in the 2nd quarter. LSV Asset Management now owns 615,729 shares of the business services provider’s stock valued at $13,183,000 after purchasing an additional 30,300 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Kelly Services by 5.8% in 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 in the last quarter. Hedge funds and other institutional investors 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.