ValuEngine Lowers ManpowerGroup (NYSE:MAN) to Strong Sell

ValuEngine lowered shares of ManpowerGroup (NYSE:MAN) from a sell rating to a strong sell rating in a research report report published on Thursday morning, ValuEngine reports.

A number of other equities analysts have also recently issued reports on MAN. SunTrust Banks lowered their target price on ManpowerGroup from $97.00 to $90.00 and set a hold rating for the company in a report on Thursday, September 26th. JPMorgan Chase & Co. upped their target price on ManpowerGroup from $96.00 to $99.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Credit Suisse Group cut ManpowerGroup from a neutral rating to an underperform rating and lowered their target price for the stock from $88.00 to $83.00 in a report on Wednesday, July 10th. Bank of America decreased their price target on ManpowerGroup from $100.00 to $96.00 and set a neutral rating for the company in a research note on Monday, July 22nd. Finally, Royal Bank of Canada decreased their price target on ManpowerGroup from $114.00 to $110.00 and set an outperform rating for the company in a research note on Monday, July 22nd. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. ManpowerGroup presently has a consensus rating of Hold and an average price target of $95.38.

MAN traded up $3.26 on Thursday, reaching $85.22. The stock had a trading volume of 471,236 shares, compared to its average volume of 434,421. ManpowerGroup has a fifty-two week low of $61.57 and a fifty-two week high of $97.96. The firm has a 50-day moving average of $83.29 and a 200-day moving average of $88.55. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 5.58 and a beta of 1.58.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Friday, July 19th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. ManpowerGroup had a return on equity of 19.19% and a net margin of 2.34%. The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter in the prior year, the firm earned $2.35 EPS. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. Sell-side analysts anticipate that ManpowerGroup will post 7.5 EPS for the current fiscal year.

ManpowerGroup announced that its Board of Directors has authorized a stock repurchase plan on Friday, August 2nd that authorizes the company to repurchase 6,000,000 shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

In other news, EVP Mara E. Swan sold 14,871 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $84.48, for a total value of $1,256,302.08. Following the completion of the sale, the executive vice president now owns 7,228 shares of the company’s stock, valued at $610,621.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Richard Buchband sold 1,750 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $85.43, for a total value of $149,502.50. Following the completion of the sale, the senior vice president now directly owns 8,214 shares of the company’s stock, valued at approximately $701,722.02. The disclosure for this sale can be found here. Corporate insiders own 1.49% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAN. First Trust Advisors LP grew its stake in ManpowerGroup by 28.1% during the first quarter. First Trust Advisors LP now owns 369,884 shares of the business services provider’s stock worth $30,586,000 after purchasing an additional 81,062 shares during the period. GAM Holding AG acquired a new stake in ManpowerGroup during the first quarter worth approximately $480,000. Tyers Asset Management LLC grew its stake in ManpowerGroup by 145.6% during the first quarter. Tyers Asset Management LLC now owns 21,076 shares of the business services provider’s stock worth $1,743,000 after purchasing an additional 12,496 shares during the period. Neuburgh Advisers LLC grew its stake in ManpowerGroup by 145.6% during the first quarter. Neuburgh Advisers LLC now owns 32,572 shares of the business services provider’s stock worth $2,693,000 after purchasing an additional 19,312 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in ManpowerGroup by 10.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 245,184 shares of the business services provider’s stock worth $20,274,000 after purchasing an additional 23,740 shares during the period. 93.06% of the stock is owned by institutional investors and hedge funds.

About ManpowerGroup

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for ManpowerGroup (NYSE:MAN)

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