Kelly Services (NASDAQ:KELYA) Shares Gap Down – Time to Sell?

Kelly Services, Inc. (NASDAQ:KELYA)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $22.25, but opened at $19.06. Kelly Services shares last traded at $18.76, with a volume of 23,564 shares traded.

Analyst Ratings Changes

Several brokerages recently weighed in on KELYA. Barrington Research restated an “outperform” rating and set a $29.00 target price on shares of Kelly Services in a research note on Friday, September 27th. StockNews.com downgraded shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

Kelly Services Trading Down 16.4 %

The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a market cap of $661.60 million, a PE ratio of 16.98, a price-to-earnings-growth ratio of 0.63 and a beta of 1.20. The company has a 50-day simple moving average of $20.61 and a 200 day simple moving average of $21.42.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.15. Kelly Services had a return on equity of 7.82% and a net margin of 1.09%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the business earned $0.36 earnings per share. The business’s revenue was down 13.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Kelly Services, Inc. will post 2.49 earnings per share for the current fiscal year.

Institutional Trading of Kelly Services

A number of hedge funds and other institutional investors have recently modified their holdings of KELYA. Boston Partners acquired a new stake in Kelly Services during the first quarter worth $18,618,000. Allspring Global Investments Holdings LLC raised its holdings in Kelly Services by 1,730.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 234,057 shares of the business services provider’s stock valued at $5,011,000 after buying an additional 221,271 shares during the period. American Century Companies Inc. lifted its position in Kelly Services by 35.9% in the second quarter. American Century Companies Inc. now owns 682,857 shares of the business services provider’s stock valued at $14,620,000 after buying an additional 180,238 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Kelly Services by 178.3% during the second quarter. Assenagon Asset Management S.A. now owns 155,604 shares of the business services provider’s stock worth $3,331,000 after buying an additional 99,699 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Kelly Services during the third quarter valued at about $1,706,000. 76.34% of the stock is owned by institutional investors and hedge funds.

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.