ManpowerGroup (NYSE:MAN) PT Raised to $130.00 at Truist Securities

ManpowerGroup (NYSE:MAN) had its price objective hoisted by investment analysts at Truist Securities from $120.00 to $130.00 in a report released on Wednesday, Stock Target Advisor reports. Truist Securities’ target price suggests a potential upside of 13.69% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Barclays upgraded ManpowerGroup from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $120.00 in a report on Monday, March 8th. TheStreet upgraded ManpowerGroup from a “c+” rating to a “b-” rating in a report on Tuesday, February 2nd. Bank of America upgraded ManpowerGroup from a “neutral” rating to a “buy” rating in a report on Wednesday, February 3rd. Argus raised ManpowerGroup from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research report on Wednesday, February 10th. Finally, Truist boosted their price target on ManpowerGroup from $120.00 to $130.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $101.18.

MAN traded up $1.15 during midday trading on Wednesday, hitting $114.35. The company’s stock had a trading volume of 451,943 shares, compared to its average volume of 415,833. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.41. The firm has a market cap of $6.28 billion, a P/E ratio of 79.41, a PEG ratio of 4.82 and a beta of 2.07. The firm has a 50-day moving average price of $102.05 and a two-hundred day moving average price of $90.60. ManpowerGroup has a 52-week low of $61.12 and a 52-week high of $115.02.

ManpowerGroup (NYSE:MAN) last posted its quarterly earnings results on Monday, April 19th. The business services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.67 by $0.44. ManpowerGroup had a return on equity of 9.72% and a net margin of 0.47%. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. On average, equities analysts expect that ManpowerGroup will post 3.34 EPS for the current year.

In other ManpowerGroup news, SVP Richard Buchband sold 5,541 shares of the company’s stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $105.47, for a total value of $584,409.27. Following the transaction, the senior vice president now directly owns 10,687 shares of the company’s stock, valued at approximately $1,127,157.89. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John T. Mcginnis sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, April 16th. The shares were sold at an average price of $110.16, for a total value of $1,101,600.00. Following the completion of the transaction, the chief financial officer now directly owns 12,343 shares in the company, valued at $1,359,704.88. The disclosure for this sale can be found here. Corporate insiders own 1.29% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. increased its holdings in shares of ManpowerGroup by 466.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,108,435 shares of the business services provider’s stock valued at $99,958,000 after acquiring an additional 912,704 shares during the last quarter. Norges Bank bought a new stake in shares of ManpowerGroup in the 4th quarter valued at approximately $61,328,000. SummerHaven Investment Management LLC bought a new stake in shares of ManpowerGroup in the 4th quarter valued at approximately $564,000. Charles Schwab Investment Management Inc. increased its holdings in shares of ManpowerGroup by 18.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,829 shares of the business services provider’s stock valued at $45,797,000 after acquiring an additional 78,133 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of ManpowerGroup by 4.2% in the 4th quarter. First Trust Advisors LP now owns 455,702 shares of the business services provider’s stock valued at $41,095,000 after acquiring an additional 18,342 shares during the last quarter. 93.00% of the stock is currently owned by institutional investors.

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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