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ManpowerGroup (NYSE:MAN) Lifted to Hold at Zacks Investment Research

Wednesday, May 27, 2020 | MarketBeat

ManpowerGroup (NYSE:MAN) was upgraded by Zacks Investment Research from a "strong sell" rating to a "hold" rating in a report issued on Wednesday, Zacks.com reports. The brokerage currently has a $79.00 price objective on the business services provider's stock. Zacks Investment Research's target price indicates a potential upside of 4.24% from the company's previous close.

According to Zacks, "ManpowerGroup has witnessed solid growth at its solutions business, especially in Managed Service Provider (MSP) and Recruitment Process Outsourcing (RPO) solutions, through 2019. Notably, RPO and MSP have been the highest margin businesses. Acquisitions boost ManpowerGroup’s diverse portfolio and support its top-line growth. The company has been consistently rewarding its shareholders through dividend payments and share buybacks. On the flip side, challenging market environment in Europe continues to weigh on ManpowerGroup's top line. Rising expenses due to investments in digital and restructuring activities is weighing on the company's bottom line. Staffing margin pressure is also likely to weigh on ManpowerGroup’s Southern Europe segment. Partly due to these negatives, shares of ManpowerGroup have declined in the past year."

Other equities analysts have also issued research reports about the company. Robert W. Baird decreased their price target on ManpowerGroup from $101.00 to $73.00 and set an "outperform" rating on the stock in a research note on Thursday, March 19th. ValuEngine raised ManpowerGroup from a "sell" rating to a "hold" rating in a research note on Tuesday, March 17th. CL King decreased their target price on ManpowerGroup from $107.00 to $80.00 in a research note on Tuesday, April 7th. Royal Bank of Canada increased their price target on ManpowerGroup from $86.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Finally, Barclays lowered ManpowerGroup from an "overweight" rating to an "underweight" rating and reduced their price target for the company from $112.00 to $68.00 in a research report on Thursday, March 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of "Hold" and an average target price of $80.45.

NYSE:MAN traded up $1.75 during trading hours on Wednesday, hitting $75.79. The company had a trading volume of 9,351 shares, compared to its average volume of 531,556. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $66.65 and a 200 day moving average of $82.18. The company has a market cap of $4.10 billion, a P/E ratio of 11.03, a P/E/G ratio of 17.28 and a beta of 2.05. ManpowerGroup has a 1 year low of $49.57 and a 1 year high of $100.99.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Tuesday, April 21st. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.73 by $0.09. The company had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $4.23 billion. ManpowerGroup had a return on equity of 15.12% and a net margin of 2.02%. The firm's quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 EPS. On average, analysts forecast that ManpowerGroup will post 2.8 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of MAN. AQR Capital Management LLC lifted its stake in ManpowerGroup by 31.7% during the first quarter. AQR Capital Management LLC now owns 3,721,993 shares of the business services provider's stock worth $197,229,000 after purchasing an additional 896,432 shares during the period. Capital Research Global Investors boosted its position in shares of ManpowerGroup by 240.6% during the first quarter. Capital Research Global Investors now owns 2,870,904 shares of the business services provider's stock worth $152,129,000 after purchasing an additional 2,027,904 shares in the last quarter. State Street Corp boosted its position in shares of ManpowerGroup by 0.8% during the first quarter. State Street Corp now owns 2,782,806 shares of the business services provider's stock worth $147,461,000 after purchasing an additional 22,624 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of ManpowerGroup by 19.0% during the first quarter. Victory Capital Management Inc. now owns 2,741,300 shares of the business services provider's stock worth $145,261,000 after purchasing an additional 437,190 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of ManpowerGroup by 0.9% during the fourth quarter. LSV Asset Management now owns 2,316,029 shares of the business services provider's stock worth $224,886,000 after purchasing an additional 20,554 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

About ManpowerGroup

ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. 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.

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