ManpowerGroup (NYSE:MAN) Given New $48.00 Price Target at Truist Financial

ManpowerGroup (NYSE:MAN) had its target price lowered by investment analysts at Truist Financial from $55.00 to $48.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the business services provider’s stock. Truist Financial’s price objective would indicate a potential upside of 20.85% from the stock’s current price.

Several other research firms also recently commented on MAN. Barclays upgraded shares of ManpowerGroup from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $55.00 to $50.00 in a research note on Thursday, April 10th. JPMorgan Chase & Co. decreased their price objective on shares of ManpowerGroup from $67.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. UBS Group decreased their target price on ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Finally, BMO Capital Markets lowered their target price on shares of ManpowerGroup from $54.00 to $48.00 and set a “market perform” rating on the stock in a research report on Monday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, ManpowerGroup has a consensus rating of “Hold” and an average target price of $60.00.

ManpowerGroup Price Performance

ManpowerGroup stock traded down $0.35 during midday trading on Monday, reaching $39.72. The company had a trading volume of 527,913 shares, compared to its average volume of 593,982. The company has a market capitalization of $1.86 billion, a P/E ratio of 13.28 and a beta of 1.28. The firm’s fifty day simple moving average is $55.49 and its 200-day simple moving average is $59.49. ManpowerGroup has a 12-month low of $39.32 and a 12-month high of $78.87. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.15.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Thursday, April 17th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.08). The company had revenue of $698.30 million during the quarter, compared to analysts’ expectations of $3.94 billion. ManpowerGroup had a net margin of 0.81% and a return on equity of 10.19%. During the same quarter in the previous year, the company earned $0.94 earnings per share. As a group, equities analysts anticipate that ManpowerGroup will post 4.23 EPS for the current year.

Institutional Trading of ManpowerGroup

Large investors have recently bought and sold shares of the company. Barclays PLC raised its position in ManpowerGroup by 62.9% during the third quarter. Barclays PLC now owns 154,886 shares of the business services provider’s stock worth $11,387,000 after acquiring an additional 59,821 shares during the last quarter. Virtu Financial LLC purchased a new stake in ManpowerGroup during the 3rd quarter worth about $664,000. Sanctuary Advisors LLC lifted its holdings in ManpowerGroup by 39.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 7,754 shares of the business services provider’s stock valued at $570,000 after purchasing an additional 2,208 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of ManpowerGroup during the third quarter valued at approximately $207,000. Finally, Synovus Financial Corp lifted its stake in shares of ManpowerGroup by 7.8% during the 3rd quarter. Synovus Financial Corp now owns 7,922 shares of the business services provider’s stock worth $582,000 after purchasing an additional 570 shares during the period. Institutional investors and hedge funds own 98.03% of the company’s stock.

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.