ManpowerGroup (MAN) Raised to “Buy” at Zacks Investment Research
ManpowerGroup (NYSE:MAN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm presently has a $140.00 target price on the business services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.67% from the company’s current price.
According to Zacks, “ManpowerGroup reported strong third-quarter results as earnings beat the Zacks Consensus Estimate on top-line growth. The company believes that its European business would strengthen in the quarters ahead. ManpowerGroup’s brand value and strong global network provide a competitive advantage and reinforces its dominant position in the market. Through its cost recalibration and simplification plan, the company has fine-tuned its network and augmented its global delivery model. The company is poised to grow on the back of a productive workforce and sound restructuring initiatives. Management is focusing on internal drivers like disciplined pricing and tough control on productivity to ensure uninterrupted profitability. 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.”
Several other research analysts have also recently issued reports on MAN. BidaskClub raised shares of ManpowerGroup from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Argus raised their target price on shares of ManpowerGroup from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday. SunTrust Banks, Inc. reissued a “hold” rating and set a $107.00 target price on shares of ManpowerGroup in a report on Friday, October 20th. Nomura raised their target price on shares of ManpowerGroup from $127.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. Finally, BMO Capital Markets raised their target price on shares of ManpowerGroup from $124.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, October 2nd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $126.71.
Shares of ManpowerGroup (MAN) traded up 0.50% during midday trading on Friday, reaching $125.37. 623,506 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $119.42 and its 200 day moving average is $110.07. The firm has a market cap of $8.37 billion, a PE ratio of 19.18 and a beta of 1.40. ManpowerGroup has a one year low of $75.29 and a one year high of $125.66.
ManpowerGroup (NYSE:MAN) last issued its earnings results on Friday, October 20th. The business services provider reported $2.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.08. ManpowerGroup had a net margin of 2.24% and a return on equity of 17.80%. The firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter last year, the company posted $1.87 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. Analysts anticipate that ManpowerGroup will post $6.90 EPS for the current year.
In related news, EVP Mara E. Swan sold 16,575 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $107.18, for a total transaction of $1,776,508.50. Following the sale, the executive vice president now owns 32,136 shares in the company, valued at $3,444,336.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ulice Payne, Jr. sold 2,100 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $107.94, for a total transaction of $226,674.00. Following the sale, the director now owns 11,136 shares in the company, valued at approximately $1,202,019.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,524 shares of company stock worth $4,051,233. 0.87% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC grew its position in ManpowerGroup by 27.6% during the second quarter. Acrospire Investment Management LLC now owns 924 shares of the business services provider’s stock valued at $103,000 after buying an additional 200 shares during the period. IFP Advisors Inc grew its position in ManpowerGroup by 14.1% during the second quarter. IFP Advisors Inc now owns 941 shares of the business services provider’s stock valued at $105,000 after buying an additional 116 shares during the period. First Quadrant L P CA acquired a new stake in ManpowerGroup during the second quarter valued at $123,000. Harfst & Associates Inc. acquired a new stake in ManpowerGroup during the second quarter valued at $149,000. Finally, Exane Derivatives grew its position in ManpowerGroup by 166.7% during the second quarter. Exane Derivatives now owns 1,379 shares of the business services provider’s stock valued at $154,000 after buying an additional 862 shares during the period. Institutional investors own 94.30% 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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