UBS Group Cuts ManpowerGroup (NYSE:MAN) Price Target to $63.00

ManpowerGroup (NYSE:MAN) had its price objective cut by stock analysts at UBS Group from $71.00 to $63.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. UBS Group’s price objective suggests a potential upside of 6.50% from the stock’s current price.

A number of other research analysts also recently issued reports on MAN. Truist Financial reduced their price target on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating on the stock in a report on Friday, October 18th. Barclays decreased their target price on ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating for the company in a report on Friday, January 3rd. Finally, BMO Capital Markets cut their price target on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, ManpowerGroup has a consensus rating of “Hold” and an average target price of $71.67.

ManpowerGroup Trading Up 0.2 %

MAN stock traded up $0.13 during midday trading on Thursday, hitting $59.15. The company had a trading volume of 318,188 shares, compared to its average volume of 604,762. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. ManpowerGroup has a 52 week low of $53.70 and a 52 week high of $78.87. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 74.84 and a beta of 1.46. The stock’s 50 day moving average price is $60.14 and its 200 day moving average price is $66.86.

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%. As a group, equities research analysts expect that ManpowerGroup will post 4.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ManpowerGroup news, CFO John T. Mcginnis bought 8,000 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was purchased at an average cost 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MAN. 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. Capital Performance Advisors LLP purchased a new position in ManpowerGroup in the third quarter worth about $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. Venturi Wealth Management LLC increased its position 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 acquiring an additional 1,333 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in ManpowerGroup in the 2nd quarter worth approximately $130,000. Hedge funds and other institutional investors 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.