TITLE

Kelly stock hits high -- but some analysts say too high

AUTHOR(S)
Snavely, Brent
PUB. DATE
August 2005
SOURCE
Crain's Detroit Business;8/1/2005, Vol. 21 Issue 31, p4
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article states that Kelly Services Inc. saw its net income nearly double during the second quarter and its stock is trading near its highest mark in five years, but some analysts say that Kelly's stock is now overvalued when compared with competitors'. The Troy-based staffing company's sales and profits have steadily improved in the past 18 months as the country climbed out of a recession, prompting companies to boost their use of temporary labor, and as Kelly's effort to expand its international presence is beginning to pay dividends. Just two weeks ago Kelly announced a deal with Tokyo-based Tempstaff Co. Ltd. and Sony Corp. to form a joint venture to manage all of Sony's temporary-employment needs.
ACCESSION #
17877869

 

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