Barclays Lowers ManpowerGroup (NYSE:MAN) Price Target to $55.00

ManpowerGroup (NYSE:MAN) had its price objective dropped by stock analysts at Barclays from $70.00 to $55.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the business services provider’s stock. Barclays‘s target price would indicate a potential downside of 3.58% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Truist Financial cut their price objective on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets decreased their price objective on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating for the company in a report on Friday, October 18th. Finally, UBS Group cut their target price on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, ManpowerGroup has an average rating of “Hold” and a consensus price target of $73.00.

ManpowerGroup Stock Down 1.2 %

Shares of ManpowerGroup stock opened at $57.04 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.15. ManpowerGroup has a 52-week low of $55.87 and a 52-week high of $78.87. The company’s 50 day moving average price is $61.42 and its 200-day moving average price is $67.82. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 72.20 and a beta of 1.45.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.48 billion. ManpowerGroup had a net margin of 0.21% and a return on equity of 11.05%. Equities research analysts forecast that ManpowerGroup will post 4.55 EPS for the current year.

Insider Activity at ManpowerGroup

In related news, CFO John T. Mcginnis acquired 8,000 shares of ManpowerGroup stock in a transaction that occurred on Wednesday, October 23rd. The stock was bought at an average price of $62.28 per share, with a total value of $498,240.00. Following the transaction, the chief financial officer now directly owns 70,639 shares in the company, valued at approximately $4,399,396.92. This represents a 12.77 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ManpowerGroup

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in shares of ManpowerGroup by 248.3% in the 3rd quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock worth $37,000 after purchasing an additional 375 shares during the last quarter. Headlands Technologies LLC purchased a new position in ManpowerGroup in the second quarter worth about $47,000. Capital Performance Advisors LLP bought a new position in shares of ManpowerGroup in the third quarter worth approximately $54,000. Abich Financial Wealth Management LLC grew its holdings in shares of ManpowerGroup by 34.8% during the second quarter. Abich Financial Wealth Management LLC now owns 786 shares of the business services provider’s stock valued at $55,000 after buying an additional 203 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of ManpowerGroup by 400.3% during the third quarter. Venturi Wealth Management LLC now owns 1,666 shares of the business services provider’s stock valued at $122,000 after buying an additional 1,333 shares during the last quarter. 98.03% of the stock is owned by institutional investors.

About ManpowerGroup

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.