Kelly Services (NASDAQ:KELYA) Earns “Outperform” Rating from Barrington Research

Kelly Services (NASDAQ:KELYA)‘s stock had its “outperform” rating reaffirmed by investment analysts at Barrington Research in a research note issued on Tuesday,Benzinga reports. They presently have a $25.00 price target on the business services provider’s stock. Barrington Research’s price objective indicates a potential upside of 110.79% from the company’s current price.

Separately, StockNews.com cut Kelly Services from a “buy” rating to a “hold” rating in a report on Tuesday.

Kelly Services Stock Performance

NASDAQ KELYA opened at $11.86 on Tuesday. The stock has a market cap of $413.77 million, a PE ratio of -197.63, a P/E/G ratio of 0.43 and a beta of 0.96. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.19. Kelly Services has a twelve month low of $10.80 and a twelve month high of $23.81. The stock has a fifty day simple moving average of $12.17 and a 200-day simple moving average of $13.50.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Thursday, May 8th. The business services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.14). The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Kelly Services had a positive return on equity of 6.56% and a negative net margin of 0.01%. Equities analysts anticipate that Kelly Services will post 2.45 earnings per share for the current year.

Hedge Funds Weigh In On Kelly Services

Several hedge funds have recently bought and sold shares of the company. Empowered Funds LLC lifted its stake in Kelly Services by 4.2% during the 1st quarter. Empowered Funds LLC now owns 214,829 shares of the business services provider’s stock worth $2,829,000 after acquiring an additional 8,562 shares in the last quarter. Caxton Associates LLP acquired a new position in Kelly Services during the 1st quarter worth about $488,000. Petrus Trust Company LTA acquired a new position in Kelly Services during the 1st quarter worth about $442,000. PharVision Advisers LLC acquired a new stake in Kelly Services in the 1st quarter valued at about $136,000. Finally, Millennium Management LLC raised its position in Kelly Services by 8.5% in the 1st quarter. Millennium Management LLC now owns 1,188,264 shares of the business services provider’s stock valued at $15,649,000 after purchasing an additional 93,026 shares in 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.