Credit Suisse Group assumed coverage on shares of ManpowerGroup (NYSE:MAN) in a research report issued to clients and investors on Friday, MarketBeat reports. The firm set an “outperform” rating and a $115.00 price target on the business services provider’s stock. Credit Suisse Group’s target price suggests a potential upside of 28.36% from the company’s previous close.
MAN has been the subject of a number of other reports. Northcoast Research reissued a “neutral” rating on shares of ManpowerGroup in a report on Monday, July 23rd. Barclays reduced their price target on shares of ManpowerGroup from $115.00 to $90.00 and set a “$86.63” rating for the company in a report on Wednesday, July 18th. Nomura reissued a “buy” rating and issued a $130.00 price target on shares of ManpowerGroup in a report on Sunday, July 22nd. ValuEngine downgraded shares of ManpowerGroup from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, BMO Capital Markets reduced their price target on shares of ManpowerGroup from $136.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, April 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $113.70.
ManpowerGroup traded down $1.04, reaching $89.59, during mid-day trading on Friday, MarketBeat reports. The company had a trading volume of 872,938 shares, compared to its average volume of 1,102,410. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.48 and a quick ratio of 1.33. ManpowerGroup has a 52 week low of $81.85 and a 52 week high of $136.93. The company has a market cap of $5.88 billion, a PE ratio of 11.01 and a beta of 1.23.
ManpowerGroup (NYSE:MAN) last issued its quarterly earnings results on Friday, July 20th. The business services provider reported $2.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.35. ManpowerGroup had a net margin of 2.67% and a return on equity of 19.37%. The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the prior year, the firm earned $1.72 EPS. The business’s revenue was up 9.9% on a year-over-year basis. analysts expect that ManpowerGroup will post 8.94 earnings per share for the current fiscal year.
ManpowerGroup declared that its Board of Directors has initiated a share repurchase plan on Friday, August 3rd that allows the company to repurchase 6,000,000 shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, Director Ulice Payne, Jr. sold 1,350 shares of the stock in a transaction on Friday, August 10th. The shares were sold at an average price of $89.43, for a total value of $120,730.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.02% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in shares of ManpowerGroup by 648.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 8,566 shares of the business services provider’s stock valued at $737,000 after buying an additional 7,422 shares in the last quarter. NumerixS Investment Technologies Inc raised its stake in shares of ManpowerGroup by 14.3% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 7,200 shares of the business services provider’s stock valued at $615,000 after buying an additional 900 shares in the last quarter. Frontier Investment Mgmt Co. acquired a new position in shares of ManpowerGroup in the 2nd quarter valued at $258,000. BlackRock Inc. raised its stake in shares of ManpowerGroup by 6.5% in the 2nd quarter. BlackRock Inc. now owns 8,070,128 shares of the business services provider’s stock valued at $694,518,000 after buying an additional 491,423 shares in the last quarter. Finally, Cadence Capital Management LLC acquired a new position in shares of ManpowerGroup in the 2nd quarter valued at $369,000. Institutional investors own 91.50% of the company’s stock.
ManpowerGroup Company Profile
ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. The company's recruitment service portfolio includes permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions.
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