Truist Financial Cuts ManpowerGroup (NYSE:MAN) Price Target to $55.00

ManpowerGroup (NYSE:MAN - Free Report) had its price objective cut by Truist Financial from $70.00 to $55.00 in a report released on Tuesday, MarketBeat.com reports. They currently have a hold rating on the business services provider's stock.

Several other equities research analysts also recently issued reports on MAN. Barclays upgraded shares of ManpowerGroup from an "underweight" rating to an "equal weight" rating and lowered their price objective for the stock from $55.00 to $50.00 in a research note on Thursday, April 10th. JPMorgan Chase & Co. cut their price objective on shares of ManpowerGroup from $67.00 to $65.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Finally, UBS Group decreased their target price on ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, ManpowerGroup presently has a consensus rating of "Hold" and an average target price of $65.00.

ManpowerGroup Stock Performance

ManpowerGroup stock traded down $9.39 on Tuesday, reaching $40.12. 2,955,433 shares of the stock were exchanged, compared to its average volume of 594,049. The stock has a market cap of $1.88 billion, a PE ratio of 13.42 and a beta of 1.28. The firm has a fifty day moving average price of $55.49 and a two-hundred day moving average price of $59.57. ManpowerGroup has a twelve month low of $39.87 and a twelve month high of $78.87. The company has a current ratio of 1.12, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44.

ManpowerGroup (NYSE:MAN - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.08). The business had revenue of $698.30 million for the quarter, compared to analyst estimates of $3.94 billion. ManpowerGroup had a return on equity of 10.19% and a net margin of 0.81%. During the same period in the prior year, the firm posted $0.94 EPS. Sell-side analysts anticipate that ManpowerGroup will post 4.23 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MAN. Colonial Trust Co SC acquired a new position in shares of ManpowerGroup in the 4th quarter worth approximately $28,000. WFA Asset Management Corp bought a new position in shares of ManpowerGroup during the fourth quarter valued at $35,000. Fifth Third Bancorp boosted its stake in shares of ManpowerGroup by 48.6% in the 1st quarter. Fifth Third Bancorp now owns 743 shares of the business services provider's stock valued at $43,000 after purchasing an additional 243 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of ManpowerGroup by 190.6% in the 1st quarter. GAMMA Investing LLC now owns 744 shares of the business services provider's stock worth $43,000 after purchasing an additional 488 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its holdings in shares of ManpowerGroup by 171.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 890 shares of the business services provider's stock worth $51,000 after purchasing an additional 562 shares during the last quarter. Institutional investors and hedge funds own 98.03% of the company's stock.

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.