BMO Capital Markets Reiterates Buy Rating for ManpowerGroup (MAN)
ManpowerGroup (NYSE:MAN)‘s stock had its “buy” rating restated by equities researchers at BMO Capital Markets in a report released on Friday. They presently have a $124.00 price target on the business services provider’s stock. BMO Capital Markets’ target price would indicate a potential upside of 10.62% from the company’s previous close.
MAN has been the subject of several other research reports. BidaskClub cut shares of ManpowerGroup from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Credit Suisse Group restated a “neutral” rating and set a $111.00 target price (up previously from $106.00) on shares of ManpowerGroup in a report on Tuesday, July 25th. Northcoast Research restated a “neutral” rating on shares of ManpowerGroup in a report on Monday, July 17th. Zacks Investment Research upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a report on Tuesday, July 4th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $111.00 target price (up previously from $104.00) on shares of ManpowerGroup in a report on Friday, July 14th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $109.60.
Shares of ManpowerGroup (MAN) opened at 112.10 on Friday. ManpowerGroup has a 52-week low of $67.30 and a 52-week high of $119.59. The firm has a 50-day moving average of $109.67 and a 200-day moving average of $104.68. The stock has a market cap of $7.48 billion, a P/E ratio of 17.15 and a beta of 1.39.
ManpowerGroup (NYSE:MAN) last announced its earnings results on Monday, July 24th. The business services provider reported $1.72 EPS for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the previous year, the company posted $1.60 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts expect that ManpowerGroup will post $6.75 EPS for the current fiscal year.
In other ManpowerGroup news, SVP Richard Buchband sold 1,250 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $109.00, for a total transaction of $136,250.00. Following the sale, the senior vice president now directly owns 3,884 shares of the company’s stock, valued at $423,356. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ulice Payne, Jr. sold 2,100 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $107.94, for a total transaction of $226,674.00. Following the sale, the director now directly owns 11,136 shares in the company, valued at $1,202,019.84. The disclosure for this sale can be found here. Insiders have sold 124,108 shares of company stock worth $13,165,550 over the last ninety days. Insiders own 0.87% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. WINTON GROUP Ltd raised its stake in ManpowerGroup by 101.9% in the second quarter. WINTON GROUP Ltd now owns 52,693 shares of the business services provider’s stock valued at $5,883,000 after buying an additional 26,600 shares during the period. Koch Industries Inc. bought a new position in shares of ManpowerGroup during the second quarter valued at $208,000. Seminole Management Co. Inc. raised its position in shares of ManpowerGroup by 10.8% in the second quarter. Seminole Management Co. Inc. now owns 14,400 shares of the business services provider’s stock valued at $1,608,000 after buying an additional 1,400 shares during the last quarter. Security National Bank of SO Dak raised its position in shares of ManpowerGroup by 1.2% in the second quarter. Security National Bank of SO Dak now owns 8,165 shares of the business services provider’s stock valued at $911,000 after buying an additional 100 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in shares of ManpowerGroup by 11.1% in the second quarter. Coldstream Capital Management Inc. now owns 6,572 shares of the business services provider’s stock valued at $734,000 after buying an additional 655 shares during the last quarter. 93.67% of the stock is currently owned by hedge funds and other institutional investors.
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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