Truist Financial Trims ManpowerGroup (NYSE:MAN) Target Price to $74.00

ManpowerGroup (NYSE:MAN) had its target price reduced by Truist Financial from $78.00 to $74.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the business services provider’s stock. Truist Financial’s price target would indicate a potential upside of 14.57% from the company’s previous close.

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. cut their price objective on ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. UBS Group reduced their price objective 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, BMO Capital Markets upped their price target on shares of ManpowerGroup from $80.00 to $87.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $79.80.

ManpowerGroup Stock Performance

MAN stock traded down $2.46 during midday trading on Friday, hitting $64.59. 193,339 shares of the stock traded hands, compared to its average volume of 407,247. ManpowerGroup has a 1-year low of $64.35 and a 1-year high of $80.25. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s fifty day simple moving average is $71.81 and its 200-day simple moving average is $72.74. The firm has a market cap of $3.08 billion, a P/E ratio of 66.53 and a beta of 1.45.

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

Institutional Investors Weigh In On ManpowerGroup

Large investors have recently modified their holdings of the business. Tidal Investments LLC boosted its position in ManpowerGroup by 179.7% during the first quarter. Tidal Investments LLC now owns 17,327 shares of the business services provider’s stock worth $1,345,000 after acquiring an additional 11,132 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of ManpowerGroup by 510.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 40,206 shares of the business services provider’s stock valued at $3,122,000 after purchasing an additional 33,623 shares in the last quarter. CWM LLC increased its holdings in shares of ManpowerGroup by 5,109.1% in the second quarter. CWM LLC now owns 7,449 shares of the business services provider’s stock valued at $520,000 after purchasing an additional 7,306 shares during the last quarter. Quadrature Capital Ltd lifted its position in ManpowerGroup by 140.0% during the first quarter. Quadrature Capital Ltd now owns 20,437 shares of the business services provider’s stock worth $1,587,000 after buying an additional 11,921 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in ManpowerGroup by 2.2% during the first quarter. Capital Research Global Investors now owns 927,364 shares of the business services provider’s stock worth $72,001,000 after buying an additional 19,819 shares during the last quarter. Hedge funds and other institutional investors 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.