ManpowerGroup (NYSE:MAN) Reaches New 1-Year 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.

MAN has been the subject of several other research reports. Truist Financial reduced their price objective on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a research report on Friday. UBS Group dropped their price target on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, ManpowerGroup has a consensus rating of “Hold” and a consensus price target of $76.60.

Hedge Funds Weigh In On ManpowerGroup

Several institutional investors have recently bought and sold shares of MAN. Blue Trust Inc. lifted its holdings in ManpowerGroup by 248.3% during the 3rd quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock worth $37,000 after buying an additional 375 shares in the last quarter. Abich Financial Wealth Management LLC boosted its holdings in ManpowerGroup by 62.4% during the first quarter. Abich Financial Wealth Management LLC now owns 583 shares of the business services provider’s stock worth $45,000 after buying an additional 224 shares during the last quarter. FinTrust Capital Advisors LLC bought a new position in shares of ManpowerGroup during the 1st quarter valued at about $47,000. Headlands Technologies LLC acquired a new position in shares of ManpowerGroup in the 2nd quarter valued at approximately $47,000. Finally, Advisors Asset Management Inc. bought a new stake in ManpowerGroup during the 1st quarter worth approximately $49,000. Institutional investors own 98.03% of the company’s stock.

ManpowerGroup Stock Down 2.7 %

The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.14 and a current ratio of 1.14. The firm’s fifty day simple moving average is $71.81 and its 200 day simple moving average is $72.74. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 66.63 and a beta of 1.45.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.03. ManpowerGroup had a net margin of 0.25% and a return on equity of 11.08%. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period in the previous year, the firm posted $1.58 EPS. The firm’s revenue was down 6.9% on a year-over-year basis. On average, sell-side analysts forecast 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.