ManpowerGroup (NYSE:MAN) Raised to Neutral at The Goldman Sachs Group

ManpowerGroup (NYSE:MAN) was upgraded by investment analysts at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage currently has a $30.00 target price on the business services provider’s stock. The Goldman Sachs Group’s price target points to a potential upside of 14.12% from the company’s current price.

A number of other equities research analysts have also weighed in on MAN. Barclays reduced their price objective on shares of ManpowerGroup from $42.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, March 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of ManpowerGroup in a research note on Monday, December 29th. Argus raised ManpowerGroup from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Tuesday, February 3rd. Wall Street Zen upgraded ManpowerGroup from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Finally, Robert W. Baird set a $50.00 price objective on ManpowerGroup in a research report on Friday, January 30th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.25.

ManpowerGroup Stock Performance

Shares of ManpowerGroup stock opened at $26.29 on Wednesday. The business has a 50-day simple moving average of $29.85 and a 200-day simple moving average of $31.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. ManpowerGroup has a one year low of $25.15 and a one year high of $60.45. The company has a market cap of $1.22 billion, a PE ratio of -87.63 and a beta of 0.91.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Thursday, January 29th. The business services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.09. ManpowerGroup had a negative net margin of 0.07% and a positive return on equity of 6.81%. The firm had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter last year, the company earned $1.02 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts forecast that ManpowerGroup will post 4.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MAN. Quarry LP acquired a new stake in ManpowerGroup during the 3rd quarter worth $25,000. Allworth Financial LP boosted its stake in ManpowerGroup by 321.7% in the second quarter. Allworth Financial LP now owns 662 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 505 shares in the last quarter. GAMMA Investing LLC boosted its stake in ManpowerGroup by 103.3% in the third quarter. GAMMA Investing LLC now owns 799 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 406 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of ManpowerGroup by 72.5% during the third quarter. True Wealth Design LLC now owns 802 shares of the business services provider’s stock worth $30,000 after purchasing an additional 337 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of ManpowerGroup during the third quarter worth about $30,000. Institutional investors and hedge funds own 98.03% of the company’s stock.

ManpowerGroup Company Profile

ManpowerGroup (NYSE: MAN) is a global leader in workforce solutions, offering a broad spectrum of staffing and talent management services. Founded in 1948 and headquartered in Milwaukee, Wisconsin, the company has grown from a temporary staffing firm to a diversified provider of workforce consultancy, recruitment, and outsourcing services. ManpowerGroup is publicly traded on the New York Stock Exchange under the ticker MAN.

The company’s service offerings are organized into four principal brands.