ManpowerGroup (NYSE:MAN) Rating Lowered to “Hold” at Wall Street Zen

ManpowerGroup (NYSE:MAN) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

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

ManpowerGroup Trading Up 1.2%

NYSE:MAN opened at $26.59 on Friday. The firm has a market capitalization of $1.24 billion, a P/E ratio of -88.64 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11. ManpowerGroup has a one year low of $25.15 and a one year high of $59.54. The company’s 50-day simple moving average is $29.75 and its 200 day simple moving average is $31.61.

ManpowerGroup (NYSE:MAN) last announced its earnings results on Thursday, January 29th. The business services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter last year, the firm earned $1.02 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, analysts forecast that ManpowerGroup will post 4.23 EPS for the current fiscal year.

Hedge Funds Weigh In On ManpowerGroup

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MAN. Allworth Financial LP boosted its stake in ManpowerGroup by 321.7% during the 2nd quarter. Allworth Financial LP now owns 662 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 505 shares during the last quarter. Quarry LP purchased a new position in shares of ManpowerGroup in the third quarter worth $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of ManpowerGroup in the third quarter worth $30,000. GAMMA Investing LLC lifted its holdings in shares of ManpowerGroup by 103.3% during the third quarter. GAMMA Investing LLC now owns 799 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 406 shares in the last quarter. Finally, True Wealth Design LLC lifted 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 valued at $30,000 after purchasing an additional 337 shares in the last quarter. 98.03% of the stock is owned by institutional investors.

About ManpowerGroup

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.