Kelly Services (NASDAQ:KELYA) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Kelly Services, Inc. (NASDAQ:KELYA) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.22 and traded as high as $14.57. Kelly Services shares last traded at $14.33, with a volume of 282,409 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have commented on KELYA. Weiss Ratings cut shares of Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Barrington Research restated an “outperform” rating on shares of Kelly Services in a report on Monday, June 29th. Finally, Zacks Research upgraded shares of Kelly Services from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Kelly Services has an average rating of “Hold” and an average price target of $15.00.

Kelly Services Stock Performance

The stock has a market capitalization of $530.94 million, a PE ratio of -2.00, a P/E/G ratio of 1.09 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.59 and a current ratio of 1.59. The firm has a 50 day moving average of $11.77 and a 200-day moving average of $10.26.

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

Kelly Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.30 dividend on an annualized basis and a yield of 2.0%. Kelly Services’s payout ratio is presently -3.95%.

Insiders Place Their Bets

In other Kelly Services news, EVP Vanessa Peterson Williams sold 29,999 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $9.78, for a total value of $293,390.22. Following the completion of the sale, the executive vice president 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Kelly Services

A number of hedge funds have recently modified their holdings of KELYA. Quarry LP raised its holdings in shares of Kelly Services by 173.2% during the third quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock worth $26,000 after acquiring an additional 1,249 shares in the last quarter. CANADA LIFE ASSURANCE Co purchased a new position in Kelly Services in the fourth quarter valued at about $30,000. Meeder Asset Management Inc. acquired a new position in Kelly Services in the 4th quarter worth about $42,000. Tower Research Capital LLC TRC increased its position in Kelly Services by 83.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider’s stock worth $51,000 after purchasing an additional 1,967 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Kelly Services by 284.2% during the 4th quarter. State of Alaska Department of Revenue now owns 7,220 shares of the business services provider’s stock worth $63,000 after purchasing an additional 5,341 shares in the last quarter. 76.34% of the stock is owned by institutional investors and hedge funds.

About Kelly Services

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.