Kelly Services Inc. (NASDAQ: KELYA) Stock Upgraded at Zacks Investment Research

Analysts at Zacks Investment Research upgraded shares of Kelly Services Inc. (NASDAQ: KELYA) from Sell to Hold today. With a rating of Hold on the stock, the company has a 52-week high of $20.98. As a means of comparison, a number of other analysts have commented on the company recently, and Kelly Services Inc. has earned a consensus one-year price target of $21.00, higher than the opening price of $18.41. Share prices often move to the upside on recommendations and new price targets of professional analysts.

U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.

The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.

The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.

The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.

Shares of Kelly Services Inc. (NASDAQ: KELYA) opened at $18.41 yesterday trading between $18.34 and $18.57, and last traded at $18.41.

Kelly Services Inc. (NASDAQ: KELYA) currently has a market cap of 701.29M.

55,409 shares traded hands yesterday, 59 percent lower than normal, out of a total float 29,478,000. Momentum traders often use swings in trading volume to identify heavy volume aggregation or dissemination by institutional investors, so trading volume is likely to increase in the next few days.

As with all potential breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to show that fund managers and other professional investors are jumping in.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors retain teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.

By marking the activity of these professional investors—and the moving averages they affect— traders can make the best trades.

Trades for Kelly Services Inc. (NASDAQ: KELYA) have ranged from $13.67 – 20.98, and the stock now has a 50-day MA of $19.31 and 200-day MA of $19.11. Today’s last price is 0.12% lower than the 52 week high of $20.98.

Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors look for companies that have raised their earnings by at least 25% over a 3 year period.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

Add a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.