ManpowerGroup (NYSE:MAN) Sets New 12-Month Low Following Analyst Downgrade

ManpowerGroup Inc. (NYSE:MAN) shares hit a new 52-week low during mid-day trading on Friday after BMO Capital Markets lowered their price target on the stock from $87.00 to $71.00. BMO Capital Markets currently has a market perform rating on the stock. ManpowerGroup traded as low as $65.52 and last traded at $66.01, with a volume of 39460 shares changing hands. The stock had previously closed at $67.05.

A number of other research firms have also recently issued reports on MAN. JPMorgan Chase & Co. lowered their price objective on shares of ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. UBS Group lowered their price target on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a report on Friday. Finally, Truist Financial cut their price objective on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a report on Friday. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, ManpowerGroup has a consensus rating of “Hold” and an average target price of $76.60.

Institutional Trading of ManpowerGroup

Several institutional investors have recently modified their holdings of the business. Wellington Management Group LLP raised its position in shares of ManpowerGroup by 1.6% during the fourth quarter. Wellington Management Group LLP now owns 1,096,658 shares of the business services provider’s stock worth $87,151,000 after acquiring an additional 17,481 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of ManpowerGroup by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,912,219 shares of the business services provider’s stock worth $549,314,000 after purchasing an additional 17,691 shares during the period. ARGA Investment Management LP boosted its stake in shares of ManpowerGroup by 22.6% in the 1st quarter. ARGA Investment Management LP now owns 48,396 shares of the business services provider’s stock valued at $3,757,000 after purchasing an additional 8,916 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of ManpowerGroup by 25.6% during the first quarter. Hexagon Capital Partners LLC now owns 1,364 shares of the business services provider’s stock worth $106,000 after buying an additional 278 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in ManpowerGroup by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 149,375 shares of the business services provider’s stock worth $11,597,000 after buying an additional 15,438 shares during the last quarter. Institutional investors own 98.03% of the company’s stock.

ManpowerGroup Trading Down 2.7 %

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 67.27 and a beta of 1.45. The firm’s fifty day moving average is $71.72 and its 200-day moving average is $72.67.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings data on Thursday, July 18th. The business services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. The company had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.53 billion. ManpowerGroup had a return on equity of 11.08% and a net margin of 0.25%. The firm’s revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 EPS. Equities analysts anticipate that ManpowerGroup Inc. will post 4.87 earnings per share for the current year.

ManpowerGroup Company Profile

ManpowerGroup Inc provides workforce solutions and services worldwide. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.