ManpowerGroup (NYSE:MAN) Price Target Cut to $71.00

ManpowerGroup (NYSE:MAN) had its price target reduced by analysts at BMO Capital Markets from $87.00 to $71.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 8.81% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Truist Financial dropped their target price on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a research report on Friday. UBS Group dropped their target price on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. dropped their target price on shares of ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $76.60.

ManpowerGroup Price Performance

Shares of ManpowerGroup stock opened at $65.25 on Friday. The firm has a market cap of $3.11 billion, a PE ratio of 67.27 and a beta of 1.45. ManpowerGroup has a 12-month low of $64.35 and a 12-month high of $80.25. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.45. The company’s fifty day simple moving average is $71.72 and its two-hundred day simple moving average is $72.67.

ManpowerGroup (NYSE:MAN) last posted its earnings results on Thursday, July 18th. The business services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.27 by $0.03. ManpowerGroup had a net margin of 0.25% and a return on equity of 11.08%. The firm had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same period last year, the company posted $1.58 EPS. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. As a group, equities analysts expect that ManpowerGroup will post 4.87 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in ManpowerGroup by 248.3% during the 3rd quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 375 shares during the period. Abich Financial Wealth Management LLC raised its holdings in ManpowerGroup by 62.4% in the first quarter. Abich Financial Wealth Management LLC now owns 583 shares of the business services provider’s stock worth $45,000 after buying an additional 224 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new position in ManpowerGroup in the first quarter worth about $47,000. Advisors Asset Management Inc. purchased a new position in ManpowerGroup in the first quarter worth about $49,000. Finally, Headlands Technologies LLC purchased a new position in ManpowerGroup in the second quarter worth about $47,000. 98.03% of the stock is owned by hedge funds and other 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.