Kelly Services (NASDAQ:KELYA) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Kelly Services, Inc. (NASDAQ:KELYA)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.34 and traded as high as $11.69. Kelly Services shares last traded at $11.66, with a volume of 644,949 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Weiss Ratings cut shares of Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Zacks Research upgraded shares of Kelly Services from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Barrington Research reduced their price objective on shares of Kelly Services from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, February 13th. Finally, Wall Street Zen upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.00.

Kelly Services Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.59 and a quick ratio of 1.59. The company’s 50 day moving average is $9.53 and its 200 day moving average is $9.35. The stock has a market cap of $402.87 million, a price-to-earnings ratio of -1.53, a PEG ratio of 0.89 and a beta of 0.79.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.04). Kelly Services had a positive return on equity of 3.07% and a negative net margin of 6.44%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Research analysts forecast that Kelly Services, Inc. will post 1.01 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, May 18th. Kelly Services’s payout ratio is currently -3.95%.

Insider Activity at Kelly Services

In other Kelly Services news, EVP Vanessa Peterson Williams sold 29,999 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $9.78, for a total transaction of $293,390.22. Following the transaction, the executive vice president directly owned 82,355 shares in the company, valued at $805,431.90. This represents a 26.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher D. Layden acquired 10,100 shares of Kelly Services stock in a transaction on Tuesday, March 24th. The shares were bought at an average price of $8.80 per share, for a total transaction of $88,880.00. Following the completion of the purchase, the chief executive officer directly owned 382,513 shares in the company, valued at $3,366,114.40. The trade was a 2.71% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 5.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KELYA. AQR Capital Management LLC boosted its stake in Kelly Services by 24.3% during the 1st quarter. AQR Capital Management LLC now owns 373,269 shares of the business services provider’s stock valued at $4,916,000 after acquiring an additional 73,040 shares during the last quarter. Millennium Management LLC lifted its position in shares of 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 worth $15,649,000 after buying an additional 93,026 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Kelly Services by 4.2% in the 1st quarter. Empowered Funds LLC now owns 214,829 shares of the business services provider’s stock worth $2,829,000 after buying an additional 8,562 shares during the last quarter. Quantbot Technologies LP lifted its position in shares of Kelly Services by 16.0% in the 2nd quarter. Quantbot Technologies LP now owns 29,357 shares of the business services provider’s stock worth $344,000 after buying an additional 4,043 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Kelly Services by 1.5% in the 2nd quarter. Invesco Ltd. now owns 472,191 shares of the business services provider’s stock worth $5,529,000 after buying an additional 6,876 shares during the last quarter. 76.34% of the stock is currently owned by institutional investors.

Kelly Services Company Profile

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.