ManpowerGroup (NYSE:MAN) Price Target Lowered to $63.00 at UBS Group

ManpowerGroup (NYSE:MAN) had its price target reduced by equities research analysts at UBS Group from $71.00 to $63.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. UBS Group’s target price points to a potential upside of 6.50% from the company’s current price.

MAN has been the subject of several other reports. BMO Capital Markets cut their price objective on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating for the company in a report on Friday, October 18th. Truist Financial decreased their price objective on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a research note on Friday, October 18th. Finally, Barclays cut their target price on ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $71.67.

ManpowerGroup Stock Performance

Shares of MAN traded up $0.13 during mid-day trading on Thursday, hitting $59.15. The stock had a trading volume of 318,188 shares, compared to its average volume of 604,762. ManpowerGroup has a 52 week low of $53.70 and a 52 week high of $78.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.15. The business has a fifty day moving average price of $60.14 and a 200-day moving average price of $66.86. The firm has a market cap of $2.78 billion, a P/E ratio of 74.84 and a beta of 1.46.

ManpowerGroup (NYSE:MAN) last released its quarterly earnings data on Thursday, October 17th. The business services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.48 billion. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. On average, equities research analysts expect that ManpowerGroup will post 4.55 EPS for the current year.

Insider Buying and Selling

In related news, CFO John T. Mcginnis bought 8,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was acquired at an average cost of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the transaction, the chief financial officer now directly owns 70,639 shares in the company, valued at $4,399,396.92. This trade represents a 12.77 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.00% of the stock is owned by company insiders.

Institutional Trading of ManpowerGroup

A number of hedge funds have recently made changes to their positions in MAN. Merit Financial Group LLC purchased a new stake in ManpowerGroup during the fourth quarter valued at about $241,000. Assenagon Asset Management S.A. raised its holdings in shares of ManpowerGroup by 1,373.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 53,473 shares of the business services provider’s stock valued at $3,086,000 after buying an additional 49,845 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in ManpowerGroup by 0.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 47,562 shares of the business services provider’s stock worth $2,745,000 after buying an additional 234 shares in the last quarter. Nordea Investment Management AB grew its position in ManpowerGroup by 4.8% during the fourth quarter. Nordea Investment Management AB now owns 84,153 shares of the business services provider’s stock valued at $4,835,000 after acquiring an additional 3,886 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new position in shares of ManpowerGroup during the fourth quarter worth approximately $201,000. 98.03% of the stock is owned by institutional investors.

About ManpowerGroup

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.