Royal Bank Of Canada reissued their sector perform rating on shares of ManpowerGroup (NYSE:MAN) in a report published on Friday, July 14th, MarketBeat Ratings reports. The firm currently has a $111.00 target price on the business services provider’s stock, up from their previous target price of $104.00.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut ManpowerGroup from a buy rating to a hold rating in a report on Wednesday, April 26th. BidaskClub upgraded ManpowerGroup from a hold rating to a buy rating in a research note on Tuesday, June 20th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $102.71.
Shares of ManpowerGroup (MAN) traded up 1.60% during midday trading on Friday, reaching $108.28. 478,452 shares of the company were exchanged. The firm’s 50 day moving average is $110.85 and its 200-day moving average is $102.71. ManpowerGroup has a 52-week low of $66.53 and a 52-week high of $119.59. The company has a market capitalization of $7.30 billion, a PE ratio of 16.56 and a beta of 1.39.
ManpowerGroup (NYSE:MAN) last announced its quarterly earnings data on Monday, July 24th. The business services provider reported $1.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by $0.01. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.06 billion. ManpowerGroup had a net margin of 2.24% and a return on equity of 17.90%. ManpowerGroup’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 earnings per share. On average, equities analysts forecast that ManpowerGroup will post $6.76 earnings per share for the current fiscal year.
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In other ManpowerGroup news, EVP Sriram Chandrashekar sold 19,912 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $105.39, for a total value of $2,098,525.68. Following the sale, the executive vice president now owns 1,659 shares in the company, valued at approximately $174,842.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Richard Buchband sold 1,250 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $109.00, for a total value of $136,250.00. Following the completion of the sale, the senior vice president now owns 3,884 shares in the company, valued at approximately $423,356. The disclosure for this sale can be found here. Insiders have sold a total of 119,615 shares of company stock worth $12,677,609 in the last 90 days. 0.87% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of ManpowerGroup during the first quarter worth about $101,000. IFP Advisors Inc increased its position in ManpowerGroup by 14.1% in the second quarter. IFP Advisors Inc now owns 941 shares of the business services provider’s stock worth $105,000 after buying an additional 116 shares during the period. First Quadrant L P CA purchased a new position in ManpowerGroup during the second quarter worth $123,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in ManpowerGroup by 31.4% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,255 shares of the business services provider’s stock worth $129,000 after buying an additional 300 shares during the period. Finally, Exane Derivatives increased its position in ManpowerGroup by 166.7% in the second quarter. Exane Derivatives now owns 1,379 shares of the business services provider’s stock worth $154,000 after buying an additional 862 shares during the period. 93.87% of the stock is currently owned by 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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