Barclays Cuts ManpowerGroup (NYSE:MAN) Price Target to $30.00

ManpowerGroup (NYSE:MAN) had its price target cut by Barclays from $35.00 to $30.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

Several other analysts also recently commented on MAN. BMO Capital Markets raised shares of ManpowerGroup from a “market perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Thursday, December 18th. The Goldman Sachs Group raised shares of ManpowerGroup from a “sell” rating to a “neutral” rating and set a $30.00 target price for the company in a research report on Wednesday, March 18th. Argus raised shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Tuesday, February 3rd. Wall Street Zen downgraded shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Robert W. Baird set a $50.00 target price on shares of ManpowerGroup in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ManpowerGroup has an average rating of “Hold” and an average target price of $39.63.

ManpowerGroup Stock Performance

MAN stock opened at $30.72 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -102.40 and a beta of 0.84. ManpowerGroup has a 12 month low of $25.15 and a 12 month high of $50.93. The firm has a 50 day moving average of $28.68 and a two-hundred day moving average of $30.42.

ManpowerGroup (NYSE:MAN) last posted its earnings results on Thursday, January 29th. The business services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. The company had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.63 billion. ManpowerGroup had a negative net margin of 0.07% and a positive return on equity of 6.81%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.02 earnings per share. As a group, equities analysts anticipate that ManpowerGroup will post 4.23 EPS for the current fiscal year.

Institutional Trading of ManpowerGroup

A number of institutional investors and hedge funds have recently modified their holdings of MAN. AQR Capital Management LLC lifted its stake in shares of ManpowerGroup by 60.3% in the third quarter. AQR Capital Management LLC now owns 3,704,326 shares of the business services provider’s stock worth $140,394,000 after buying an additional 1,393,622 shares during the last quarter. Alberta Investment Management Corp lifted its stake in shares of ManpowerGroup by 772.9% in the third quarter. Alberta Investment Management Corp now owns 1,059,100 shares of the business services provider’s stock worth $40,140,000 after buying an additional 937,771 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of ManpowerGroup by 696.9% in the second quarter. Balyasny Asset Management L.P. now owns 991,063 shares of the business services provider’s stock worth $40,039,000 after buying an additional 866,693 shares during the last quarter. Millennium Management LLC lifted its stake in shares of ManpowerGroup by 77.3% in the fourth quarter. Millennium Management LLC now owns 1,525,936 shares of the business services provider’s stock worth $45,366,000 after buying an additional 665,135 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in shares of ManpowerGroup in the fourth quarter worth $14,420,000. 98.03% of the stock is currently owned by institutional investors and hedge funds.

About ManpowerGroup

ManpowerGroup (NYSE: MAN) is a global leader in workforce solutions, offering a broad spectrum of staffing and talent management services. Founded in 1948 and headquartered in Milwaukee, Wisconsin, the company has grown from a temporary staffing firm to a diversified provider of workforce consultancy, recruitment, and outsourcing services. ManpowerGroup is publicly traded on the New York Stock Exchange under the ticker MAN.

The company’s service offerings are organized into four principal brands.