Kelly Services (KELYA) Stock Rating Lowered by ValuEngine
Kelly Services (NASDAQ:KELYA) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
Other analysts have also issued reports about the stock. Sidoti initiated coverage on shares of Kelly Services in a research note on Friday, August 24th. They set a “buy” rating and a $37.00 target price for the company. BidaskClub raised shares of Kelly Services from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. Finally, Zacks Investment Research raised shares of Kelly Services from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Kelly Services has an average rating of “Buy” and an average target price of $34.50.
Shares of NASDAQ:KELYA opened at $23.24 on Thursday. The company has a market capitalization of $932.44 million, a PE ratio of 10.82 and a beta of 0.79. Kelly Services has a twelve month low of $21.44 and a twelve month high of $32.31.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Kelly Services by 7.1% in the 2nd quarter. BlackRock Inc. now owns 4,342,762 shares of the business services provider’s stock valued at $97,496,000 after acquiring an additional 289,379 shares in the last quarter. FMR LLC lifted its position in shares of Kelly Services by 86.8% in the 2nd quarter. FMR LLC now owns 296,211 shares of the business services provider’s stock valued at $6,650,000 after acquiring an additional 137,680 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Kelly Services in the 2nd quarter valued at approximately $2,290,000. Allianz Asset Management GmbH lifted its position in shares of Kelly Services by 47.1% in the 1st quarter. Allianz Asset Management GmbH now owns 311,262 shares of the business services provider’s stock valued at $9,039,000 after acquiring an additional 99,698 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Kelly Services by 17.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 581,540 shares of the business services provider’s stock valued at $13,056,000 after acquiring an additional 86,195 shares in the last quarter. 66.21% 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 worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions (GTS), and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
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