JPMorgan Chase & Co. Raises ManpowerGroup (NYSE:MAN) Price Target to $84.00

ManpowerGroup (NYSE:MAN) had its price objective lifted by JPMorgan Chase & Co. from $82.00 to $84.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

Several other analysts have also recently issued reports on MAN. Truist Financial increased their price target on shares of ManpowerGroup from $75.00 to $78.00 and gave the stock a hold rating in a research report on Wednesday, January 31st. William Blair began coverage on shares of ManpowerGroup in a report on Monday, January 8th. They issued a market perform rating on the stock. StockNews.com cut shares of ManpowerGroup from a buy rating to a hold rating in a report on Wednesday, January 31st. BMO Capital Markets reduced their target price on shares of ManpowerGroup from $86.00 to $85.00 and set a market perform rating on the stock in a report on Thursday, February 1st. Finally, BNP Paribas reaffirmed an underperform rating and issued a $70.00 target price on shares of ManpowerGroup in a report on Friday, January 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $83.13.

ManpowerGroup Stock Up 1.1 %

Shares of MAN opened at $74.84 on Friday. The stock has a market capitalization of $3.62 billion, a PE ratio of 44.81, a P/E/G ratio of 0.60 and a beta of 1.54. ManpowerGroup has a 1 year low of $67.35 and a 1 year high of $88.91. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.16. The company’s 50-day simple moving average is $73.32 and its 200-day simple moving average is $74.37.

ManpowerGroup (NYSE:MAN) last issued its quarterly earnings results on Thursday, April 18th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.04. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.44 billion. ManpowerGroup had a net margin of 0.47% and a return on equity of 12.60%. The business’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 earnings per share. Analysts forecast that ManpowerGroup will post 5.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ManpowerGroup

Hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG increased its stake in ManpowerGroup by 88.3% in the third quarter. UBS Group AG now owns 52,185 shares of the business services provider’s stock valued at $3,826,000 after purchasing an additional 24,466 shares during the last quarter. ING Groep NV purchased a new position in ManpowerGroup in the third quarter valued at approximately $1,019,000. Teachers Retirement System of The State of Kentucky increased its stake in ManpowerGroup by 91.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 17,437 shares of the business services provider’s stock valued at $1,278,000 after purchasing an additional 8,318 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of ManpowerGroup during the third quarter worth approximately $1,603,000. Finally, Quantbot Technologies LP grew its position in shares of ManpowerGroup by 376.8% during the third quarter. Quantbot Technologies LP now owns 23,688 shares of the business services provider’s stock worth $1,737,000 after acquiring an additional 18,720 shares during the last quarter. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

ManpowerGroup Company Profile

ManpowerGroup Inc provides workforce solutions and services worldwide. 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. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.