Kelly Services (NASDAQ:KELYA) Shares Gap Up – Time to Buy?

Kelly Services, Inc. (NASDAQ:KELYA)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $14.74, but opened at $15.52. Kelly Services shares last traded at $14.92, with a volume of 61,100 shares changing hands.

Analyst Ratings Changes

Several analysts have recently weighed in on KELYA shares. StockNews.com cut Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Barrington Research decreased their price target on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, November 18th.

Kelly Services Trading Down 0.9 %

The stock has a market capitalization of $520.26 million, a P/E ratio of 12.97, a P/E/G ratio of 0.58 and a beta of 1.13. The firm’s 50 day simple moving average is $18.50 and its two-hundred day simple moving average is $20.37. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.18.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $0.50 EPS. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, analysts forecast that Kelly Services, Inc. will post 1.93 earnings per share for the current fiscal year.

Kelly Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.30 annualized dividend and a yield of 2.05%. Kelly Services’s dividend payout ratio (DPR) is currently 26.09%.

Insider Buying and Selling at Kelly Services

In other Kelly Services news, SVP Daniel H. Malan purchased 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average cost of $13.88 per share, with a total value of $48,580.00. Following the completion of the transaction, the senior vice president now owns 95,906 shares of the company’s stock, valued at $1,331,175.28. The trade was a 3.79 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Kelly Services

Several institutional investors and hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new position in Kelly Services in the 2nd quarter worth about $30,000. Innealta Capital LLC bought a new position in shares of Kelly Services in the second quarter worth $39,000. nVerses Capital LLC purchased a new stake in shares of Kelly Services in the second quarter worth $47,000. Meeder Asset Management Inc. bought a new stake in Kelly Services during the second quarter valued at $51,000. Finally, Quest Partners LLC purchased a new position in Kelly Services during the third quarter worth about $158,000. 76.34% of the stock is owned by institutional investors.

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.