ManpowerGroup (MAN) Stock Rating Lowered by Zacks Investment Research
ManpowerGroup (NYSE:MAN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “ManpowerGroup’s brand value and strong global network provide a competitive advantage and reinforces its dominant position in the market. The company is continuously making significant investments to expand permanent recruitment solutions offerings to capitalize on the future revenue-generating opportunities. Through its cost recalibration and simplification plan, the company has fine-tuned its network and augmented its global delivery model. ManpowerGroup has also outperformed the industry year to date. However, revenues are likely to be affected by the Brexit referendum as nearly two-thirds of the total revenue come from Europe and the U.K. The employment services industry is also highly competitive with low barriers to entry and ManpowerGroup faces stiff competition from other established players in both domestic and international markets that limits its profitability.”
A number of other analysts have also recently commented on MAN. BidaskClub raised ManpowerGroup from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $111.00 price target (up previously from $104.00) on shares of ManpowerGroup in a research report on Friday, July 14th. Credit Suisse Group reaffirmed a “neutral” rating and set a $111.00 price target (up previously from $106.00) on shares of ManpowerGroup in a research report on Tuesday, July 25th. Northcoast Research reaffirmed a “neutral” rating on shares of ManpowerGroup in a research report on Monday, July 17th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $124.00 price target on shares of ManpowerGroup in a research report on Friday, September 1st. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $109.60.
ManpowerGroup (MAN) traded down 0.71% during mid-day trading on Wednesday, reaching $114.55. The company had a trading volume of 124,875 shares. The firm has a market capitalization of $7.64 billion, a PE ratio of 17.52 and a beta of 1.38. ManpowerGroup has a 52 week low of $67.30 and a 52 week high of $119.59. The stock’s 50-day moving average price is $108.54 and its 200 day moving average price is $105.32.
ManpowerGroup (NYSE:MAN) last posted its quarterly earnings data on Monday, July 24th. The business services provider reported $1.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.01). ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the business earned $1.60 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts predict that ManpowerGroup will post $6.75 EPS for the current year.
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In related news, Director Ulice Payne, Jr. sold 2,100 shares of ManpowerGroup stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $107.94, for a total value of $226,674.00. Following the completion of the transaction, the director now owns 11,136 shares in the company, valued at approximately $1,202,019.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Richard Buchband sold 1,250 shares of ManpowerGroup stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $109.00, for a total value of $136,250.00. Following the completion of the transaction, the senior vice president now owns 3,884 shares of the company’s stock, valued at approximately $423,356. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,108 shares of company stock valued at $13,165,550. 0.87% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in MAN. WINTON GROUP Ltd increased its stake in ManpowerGroup by 101.9% during the 2nd quarter. WINTON GROUP Ltd now owns 52,693 shares of the business services provider’s stock worth $5,883,000 after buying an additional 26,600 shares in the last quarter. Koch Industries Inc. purchased a new stake in ManpowerGroup during the 2nd quarter worth approximately $208,000. Seminole Management Co. Inc. increased its stake in ManpowerGroup by 10.8% during the 2nd quarter. Seminole Management Co. Inc. now owns 14,400 shares of the business services provider’s stock worth $1,608,000 after buying an additional 1,400 shares in the last quarter. Security National Bank of SO Dak increased its stake in ManpowerGroup by 1.2% during the 2nd quarter. Security National Bank of SO Dak now owns 8,165 shares of the business services provider’s stock worth $911,000 after buying an additional 100 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in ManpowerGroup by 11.1% during the 2nd quarter. Coldstream Capital Management Inc. now owns 6,572 shares of the business services provider’s stock worth $734,000 after buying an additional 655 shares in the last quarter. Hedge funds and other institutional investors own 93.72% of the company’s stock.
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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