Zacks Investment Research Upgrades ManpowerGroup Inc. (MAN) to Buy
ManpowerGroup Inc. (NYSE:MAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $76.00 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 11.75% from the company’s current price.
According to Zacks, “ManpowerGroup’s brand value, wide range of services and strong global network reinforces its dominant position in the market. Management continues to believe that global recovery is on track but at a slow and uneven pace. As a result, management is focusing on internal drivers like disciplined pricing and tough control on productivity to ensure uninterrupted profitability. This led the company to post better-than-expected bottom-line results in past 10 quarters. ManpowerGroup expects third-quarter earnings per share in the range of $1.66–$1.74. However, on the revenue front, the company continues to struggle and missed the estimate in the four straight quarters. The strengthening U.S. dollar will continue to affect ManpowerGroup’s quarterly performance as the international markets contribute nearly 85% of its revenues. More importantly, the U.K.’s exit from EU will have an impact on business.”
MAN has been the topic of a number of other reports. Bank of America Corp. reiterated a “buy” rating on shares of ManpowerGroup in a research note on Friday, June 10th. Avondale Partners downgraded shares of ManpowerGroup from an “outperform” rating to a “market perform” rating and raised their target price for the company from $74.00 to $96.00 in a research note on Monday, June 27th. BMO Capital Markets restated a “buy” rating on shares of ManpowerGroup in a research note on Monday, June 27th. Credit Suisse Group AG downgraded shares of ManpowerGroup from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $88.00 to $73.00 in a research note on Monday, June 27th. Finally, Deutsche Bank AG began coverage on shares of ManpowerGroup in a research note on Wednesday, August 17th. They issued a “hold” rating and a $77.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $83.83.
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Shares of ManpowerGroup (NYSE:MAN) traded down 0.0146% during midday trading on Tuesday, hitting $68.0001. 251,697 shares of the stock were exchanged. The firm’s 50-day moving average is $69.90 and its 200-day moving average is $74.23. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 11.6239 and a beta of 1.87. ManpowerGroup has a 12 month low of $57.26 and a 12 month high of $93.34.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings data on Thursday, July 21st. The company reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.08. ManpowerGroup had a net margin of 2.23% and a return on equity of 17.19%. The firm had revenue of $5 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the firm earned $1.33 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts predict that ManpowerGroup will post $5.90 earnings per share for the current year.
In related news, EVP Handel Michael J. Van sold 31,855 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $69.77, for a total transaction of $2,222,523.35. Following the completion of the transaction, the executive vice president now owns 31,378 shares of the company’s stock, valued at $2,189,243.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Handel Michael J. Van sold 57,348 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $70.13, for a total transaction of $4,021,815.24. Following the transaction, the executive vice president now directly owns 40,931 shares of the company’s stock, valued at approximately $2,870,491.03. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of MAN. Acrospire Investment Management LLC boosted its position in shares of ManpowerGroup by 124.9% in the second quarter. Acrospire Investment Management LLC now owns 1,799 shares of the company’s stock valued at $116,000 after buying an additional 999 shares during the period. PineBridge Investments L.P. acquired a new position in shares of ManpowerGroup during the second quarter valued at about $156,000. Tower Research Capital LLC TRC acquired a new position in shares of ManpowerGroup during the second quarter valued at about $192,000. Nuveen Fund Advisors LLC acquired a new position in shares of ManpowerGroup during the second quarter valued at about $202,000. Finally, Invictus RG boosted its position in shares of ManpowerGroup by 2,024.0% in the second quarter. Invictus RG now owns 3,271 shares of the company’s stock valued at $210,000 after buying an additional 3,117 shares during the period. 95.12% of the stock is owned by hedge funds and other institutional investors.
ManpowerGroup Company Profile
ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.
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