Barrington Research Reiterates Outperform Rating for Kelly Services (NASDAQ:KELYA)

Barrington Research reaffirmed their outperform rating on shares of Kelly Services (NASDAQ:KELYA) in a report released on Wednesday,Benzinga reports. They currently have a $25.00 price target on the business services provider’s stock.

Kelly Services Price Performance

Shares of Kelly Services stock opened at $14.14 on Wednesday. The stock has a market cap of $503.53 million, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 0.40 and a beta of 1.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a 50 day moving average price of $13.81 and a 200-day moving average price of $17.41. Kelly Services has a one year low of $12.68 and a one year high of $25.27.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.44 by $0.38. Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. Equities analysts expect that Kelly Services will post 1.93 EPS for the current year.

Kelly Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, February 26th. Kelly Services’s payout ratio is currently 26.09%.

Insider Activity

In related news, SVP Daniel H. Malan purchased 3,500 shares of Kelly Services stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $13.88 per share, with a total value of $48,580.00. Following the purchase, the senior vice president now directly owns 95,906 shares of the company’s stock, valued at approximately $1,331,175.28. This represents a 3.79 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Kelly Services

Several large investors have recently added to or reduced their stakes in KELYA. Boston Partners raised its holdings in shares of Kelly Services by 49.0% in the fourth quarter. Boston Partners now owns 1,889,389 shares of the business services provider’s stock valued at $26,450,000 after acquiring an additional 621,078 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Kelly Services by 2,489.0% in the 4th quarter. Jane Street Group LLC now owns 603,057 shares of the business services provider’s stock valued at $8,407,000 after purchasing an additional 579,764 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Kelly Services in the 4th quarter worth approximately $5,343,000. Pacer Advisors Inc. boosted its stake in shares of Kelly Services by 45.7% during the third quarter. Pacer Advisors Inc. now owns 1,211,791 shares of the business services provider’s stock valued at $25,944,000 after purchasing an additional 380,035 shares in the last quarter. Finally, Kennedy Capital Management LLC purchased a new position in Kelly Services during the fourth quarter valued at approximately $4,082,000. 76.34% of the stock is owned by hedge funds and other 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.