StockNews.com Begins Coverage on ManpowerGroup (NYSE:MAN)

StockNews.com assumed coverage on shares of ManpowerGroup (NYSE:MAN – Get Rating) in a report issued on Thursday. The brokerage issued a hold rating on the business services provider’s stock.

A number of other brokerages also recently commented on MAN. Robert W. Baird increased their price objective on ManpowerGroup from $94.00 to $101.00 and gave the company an outperform rating in a research report on Wednesday, February 1st. BNP Paribas started coverage on ManpowerGroup in a research report on Thursday, January 5th. They set an outperform rating and a $95.00 price objective for the company. The Goldman Sachs Group increased their price objective on ManpowerGroup from $64.00 to $73.00 and gave the company a sell rating in a research report on Monday, December 5th. TheStreet upgraded ManpowerGroup from a c+ rating to a b- rating in a research report on Monday, November 21st. Finally, Truist Financial increased their price objective on ManpowerGroup from $80.00 to $92.00 and gave the company a hold rating in a research report on Wednesday, February 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $82.22.

ManpowerGroup Price Performance

NYSE MAN traded down $1.32 on Thursday, reaching $78.75. 735,927 shares of the stock traded hands, compared to its average volume of 281,871. The firm’s fifty day simple moving average is $86.28 and its 200 day simple moving average is $81.01. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.39. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 1.83 and a beta of 1.67. ManpowerGroup has a 12 month low of $64.00 and a 12 month high of $101.53.

ManpowerGroup (NYSE:MAN – Get Rating) last issued its quarterly earnings results on Tuesday, January 31st. The business services provider reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.06). ManpowerGroup had a net margin of 1.89% and a return on equity of 18.19%. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the previous year, the business posted $2.20 earnings per share. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. As a group, research analysts predict that ManpowerGroup will post 6.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ulice Payne, Jr. sold 780 shares of the stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $89.09, for a total value of $69,490.20. Following the completion of the sale, the director now directly owns 9,720 shares of the company’s stock, valued at approximately $865,954.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Donald O. Mondano sold 2,500 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $85.50, for a total transaction of $213,750.00. Following the completion of the sale, the senior vice president now directly owns 5,440 shares of the company’s stock, valued at approximately $465,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 780 shares of the firm’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $89.09, for a total value of $69,490.20. Following the sale, the director now directly owns 9,720 shares of the company’s stock, valued at $865,954.80. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On ManpowerGroup

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of ManpowerGroup by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 6,751,129 shares of the business services provider’s stock worth $436,730,000 after purchasing an additional 49,461 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of ManpowerGroup by 19.7% during the 4th quarter. Victory Capital Management Inc. now owns 3,159,809 shares of the business services provider’s stock worth $263,652,000 after purchasing an additional 519,744 shares in the last quarter. State Street Corp raised its stake in shares of ManpowerGroup by 3.6% during the 1st quarter. State Street Corp now owns 1,938,984 shares of the business services provider’s stock worth $182,109,000 after purchasing an additional 67,221 shares in the last quarter. Invesco Ltd. raised its stake in shares of ManpowerGroup by 67.2% during the 1st quarter. Invesco Ltd. now owns 1,839,997 shares of the business services provider’s stock worth $172,812,000 after purchasing an additional 739,380 shares in the last quarter. Finally, FMR LLC raised its stake in shares of ManpowerGroup by 2.8% during the 2nd quarter. FMR LLC now owns 1,727,674 shares of the business services provider’s stock worth $132,012,000 after purchasing an additional 46,656 shares in the last quarter. 97.27% of the stock is owned by hedge funds and other institutional investors.

ManpowerGroup Company Profile

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ManpowerGroup, Inc engages in the provision of workforce solutions and services. It operates through the following segments: Americas, Southern Europe, Northern Europe, Asia Pacific Middle East, and Corporate. The Americas segment offers services as Manpower, Experis, and ManpowerGroup solutions through both branch and franchise offices.