ManpowerGroup Inc. (NYSE:MAN – Get Rating) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $70.08 and last traded at $70.25, with a volume of 292 shares trading hands. The stock had previously closed at $72.47.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. BMO Capital Markets cut shares of ManpowerGroup from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $120.00 to $84.00 in a research report on Thursday, May 26th. Truist Financial cut shares of ManpowerGroup from a "buy" rating to a "hold" rating and set a $80.00 price target for the company. in a research report on Friday, July 15th. Robert W. Baird lowered their price target on shares of ManpowerGroup from $120.00 to $94.00 in a research report on Friday, July 15th. Barclays decreased their target price on shares of ManpowerGroup from $100.00 to $80.00 and set an "underweight" rating for the company in a report on Friday, July 22nd. Finally, JPMorgan Chase & Co. cut shares of ManpowerGroup from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $145.00 to $78.00 in a report on Monday, July 11th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $82.67.
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ManpowerGroup Price Performance
The firm's fifty day simple moving average is $76.48 and its 200-day simple moving average is $84.21. The firm has a market capitalization of $3.62 billion, a PE ratio of 9.02, a PEG ratio of 0.82 and a beta of 1.70. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.39.
ManpowerGroup (NYSE:MAN – Get Rating) last announced its quarterly earnings results on Tuesday, July 19th. The business services provider reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.31 by $0.02. ManpowerGroup had a net
margin of 2.04% and a return on equity of 18.15%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.28 billion. On average, research analysts forecast that ManpowerGroup Inc. will post 8.72 earnings per share for the current fiscal year.
Institutional Trading of ManpowerGroup
A number of large investors have recently made changes to their positions in the stock. Invesco Ltd. grew its position in ManpowerGroup by 67.2% during the first quarter. Invesco Ltd. now owns 1,839,997 shares of the business services provider's stock valued at $172,812,000 after buying an additional 739,380 shares during the period. AQR Capital Management LLC grew its position in ManpowerGroup by 60.7% during the second quarter. AQR Capital Management LLC now owns 1,349,219 shares of the business services provider's stock valued at $100,233,000 after buying an additional 509,571 shares during the period. Victory Capital Management Inc. grew its position in ManpowerGroup by 11.9% during the first quarter. Victory Capital Management Inc. now owns 2,849,885 shares of the business services provider's stock valued at $266,976,000 after buying an additional 304,004 shares during the period. Millennium Management LLC grew its position in ManpowerGroup by 816.4% during the second quarter. Millennium Management LLC now owns 293,212 shares of the business services provider's stock valued at $22,404,000 after buying an additional 261,217 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in ManpowerGroup during the first quarter valued at approximately $18,574,000. 98.22% of the stock is currently owned by institutional investors.
ManpowerGroup Company Profile
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ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. 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.
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