Barrington Research confirms Kelly Services (NASDAQ:KELYA) stock rating

Kelly Services (NASDAQ:KELYA – Get Free Report)The rating of Kelly Services’ stock was reiterated at “Outperform” by analysts at Barrington Research in a research note published Thursday, Benzinga reports. They currently have a $29.00 price target on the business services provider’s stock. Barrington Research’s price target would imply a potential upside of 42.51% from the current share price. Barrington Research also issued estimates for Kelly Services’ fourth-quarter 2024 earnings at $0.76 per share and fiscal 2024 earnings at $2.41 per share.

StockNews.com separately downgraded Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.

Check out our latest analysis on Kelly Services

Price development of Kelly Services shares

NASDAQ KELYA shares opened at $20.35 on Thursday. The company has a market cap of $722.87 million, a P/E ratio of 14.64, a PEG ratio of 0.80 and a beta of 1.21. Kelly Services has a 52-week low of $17.40 and a 52-week high of $25.27. The company’s 50-day moving average is $21.50 and its 200-day moving average is $22.59.

Kelly Services (NASDAQ:KELYA – Free Report) last announced its quarterly earnings results on Thursday, August 8. The business services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.15. Kelly Services had a return on equity of 6.87% and a net margin of 1.11%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company generated earnings per share of $0.36. The company’s revenue declined 13.1% year-over-year. As a group, analysts forecast that Kelly Services will report earnings per share of $2.16 for the current fiscal year.

Hedge funds comment on Kelly Services

A number of hedge funds and other institutional investors have recently made changes to their positions in KELYA. Northwestern Mutual Wealth Management Co. acquired a new position in Kelly Services in the second quarter valued at about $30,000. Innealta Capital LLC acquired a new position in Kelly Services in the second quarter valued at about $39,000. nVerses Capital LLC acquired a new position in Kelly Services in the second quarter valued at about $47,000. Meeder Asset Management Inc. acquired a new stake in Kelly Services in the second quarter valued at about $51,000. Finally, SG Americas Securities LLC acquired a new stake in Kelly Services in the 1st quarter valued at about $125,000. Institutional investors own 76.34% of the company’s stock.

Kelly Services Company Profile

(Get free report)

Kelly Services, Inc., together with its subsidiaries, provides staffing solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment provides staffing, results-oriented and permanent placement services in the areas of administration, accounting and finance, light manufacturing, call center staffing and other staffing solutions.