Barclays Has Lowered Expectations for ManpowerGroup (NYSE:MAN) Stock Price

ManpowerGroup (NYSE:MAN) had its price objective reduced by analysts at Barclays from $70.00 to $55.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the business services provider’s stock. Barclays‘s price objective would indicate a potential downside of 4.70% from the stock’s previous close.

Several other analysts also recently issued reports on MAN. BMO Capital Markets cut their target price on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research note on Friday, October 18th. Truist Financial dropped their price target on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a research report on Friday, October 18th. Finally, UBS Group decreased their price objective on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, ManpowerGroup has a consensus rating of “Hold” and a consensus price target of $73.00.

ManpowerGroup Trading Up 1.2 %

Shares of NYSE MAN opened at $57.71 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.46. ManpowerGroup has a 12 month low of $55.87 and a 12 month high of $78.87. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 73.05 and a beta of 1.46. The business has a fifty day simple moving average of $61.31 and a 200-day simple moving average of $67.69.

ManpowerGroup (NYSE:MAN) last posted its quarterly earnings data on Thursday, October 17th. The business services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.48 billion. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. Sell-side analysts predict that ManpowerGroup will post 4.55 EPS for the current year.

Insider Activity

In other ManpowerGroup news, CFO John T. Mcginnis purchased 8,000 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were acquired at an average price of $62.28 per share, for a total transaction of $498,240.00. Following the acquisition, the chief financial officer now owns 70,639 shares of the company’s stock, valued at $4,399,396.92. This trade represents a 12.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ManpowerGroup

Large investors have recently bought and sold shares of the business. Pacer Advisors Inc. lifted its position in shares of ManpowerGroup by 12,496.6% in the third quarter. Pacer Advisors Inc. now owns 901,536 shares of the business services provider’s stock worth $66,281,000 after buying an additional 894,379 shares during the last quarter. AQR Capital Management LLC lifted its holdings in ManpowerGroup by 55.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,608,368 shares of the business services provider’s stock worth $112,264,000 after purchasing an additional 573,027 shares during the last quarter. Point72 Asset Management L.P. boosted its position in ManpowerGroup by 480.1% during the third quarter. Point72 Asset Management L.P. now owns 324,866 shares of the business services provider’s stock worth $23,884,000 after purchasing an additional 268,866 shares during the period. Millennium Management LLC grew its holdings in ManpowerGroup by 163.7% during the second quarter. Millennium Management LLC now owns 407,970 shares of the business services provider’s stock valued at $28,476,000 after purchasing an additional 253,287 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of ManpowerGroup by 4.7% in the second quarter. Victory Capital Management Inc. now owns 4,125,887 shares of the business services provider’s stock valued at $287,987,000 after purchasing an additional 183,527 shares during the period. 98.03% of the stock is currently owned by institutional investors.

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.