ManpowerGroup (NYSE:MAN) Given New $55.00 Price Target at Barclays

ManpowerGroup (NYSE:MAN) had its price target reduced by investment analysts at Barclays from $70.00 to $55.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the business services provider’s stock. Barclays‘s target price would suggest a potential downside of 4.70% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. UBS Group lowered their price target on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. BMO Capital Markets lowered their target price on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a research note on Friday, October 18th. Finally, Truist Financial dropped their price target on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a research report on Friday, October 18th. One 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 company. Based on data from MarketBeat, ManpowerGroup currently has an average rating of “Hold” and a consensus price target of $73.00.

ManpowerGroup Stock Up 1.2 %

Shares of MAN opened at $57.71 on Friday. ManpowerGroup has a 52 week low of $55.87 and a 52 week high of $78.87. The firm has a market capitalization of $2.71 billion, a P/E ratio of 73.05 and a beta of 1.46. The company has a 50-day simple moving average of $61.31 and a 200-day simple moving average of $67.69. 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 (NYSE:MAN) last posted its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.48 billion. On average, equities research analysts expect that ManpowerGroup will post 4.55 earnings per share for the current year.

Insider Activity

In other ManpowerGroup news, CFO John T. Mcginnis bought 8,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were bought at an average price of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the acquisition, the chief financial officer now owns 70,639 shares of the company’s stock, valued at approximately $4,399,396.92. This trade represents a 12.77 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC raised its stake in shares of ManpowerGroup by 39.8% in the third quarter. Sanctuary Advisors LLC now owns 7,754 shares of the business services provider’s stock worth $570,000 after acquiring an additional 2,208 shares during the last quarter. BNP Paribas Financial Markets raised its position in ManpowerGroup by 168.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,904 shares of the business services provider’s stock worth $2,199,000 after purchasing an additional 18,764 shares during the last quarter. National Bank of Canada FI acquired a new position in ManpowerGroup during the 3rd quarter worth $1,250,000. FORA Capital LLC bought a new position in ManpowerGroup in the 3rd quarter valued at $636,000. Finally, Advisors Asset Management Inc. boosted its position in ManpowerGroup by 149.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 55,070 shares of the business services provider’s stock valued at $4,049,000 after buying an additional 32,992 shares during the last quarter. Institutional investors and hedge funds own 98.03% of the company’s stock.

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.