Kelly Services (NASDAQ:KELYA) Shares Gap Down – Should You Sell?

Shares of Kelly Services, Inc. (NASDAQ:KELYA) 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 trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barrington Research reissued 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 Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.

Kelly Services Trading Down 16.4 %

The stock has a market cap of $661.60 million, a price-to-earnings ratio of 16.98, a P/E/G ratio of 0.63 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.61. The business’s 50 day moving average is $20.61 and its 200 day moving average is $21.42.

Kelly Services (NASDAQ:KELYA) last posted its earnings results 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 net margin of 1.09% and a return on equity of 7.82%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the firm posted $0.36 EPS. The company’s revenue was down 13.1% on a year-over-year basis. As a group, equities analysts expect that Kelly Services, Inc. will post 2.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kelly Services

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

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.