Truist Financial Has Lowered Expectations for ManpowerGroup (NYSE:MAN) Stock Price

ManpowerGroup (NYSE:MAN) had its target price reduced by Truist Financial from $70.00 to $55.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the business services provider’s stock. Truist Financial’s target price would suggest a potential upside of 8.25% from the company’s previous close.

A number of other research analysts have also weighed in on the company. UBS Group reduced their price target on ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating on the stock 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 on the stock in a report on Friday, January 31st. Finally, Barclays upgraded shares of ManpowerGroup from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $55.00 to $50.00 in a report on Thursday, April 10th. Five investment 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, the stock currently has an average rating of “Hold” and a consensus target price of $65.00.

ManpowerGroup Price Performance

Shares of MAN stock traded down $0.91 during trading hours on Tuesday, hitting $50.81. The company’s stock had a trading volume of 59,809 shares, compared to its average volume of 581,202. The company has a current ratio of 1.12, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $56.42 and a 200-day moving average of $60.25. ManpowerGroup has a twelve month low of $47.29 and a twelve month high of $78.87. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 16.98 and a beta of 1.28.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MAN. Dimensional Fund Advisors LP raised its stake in shares of ManpowerGroup by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,493,838 shares of the business services provider’s stock valued at $143,942,000 after acquiring an additional 59,763 shares during the period. AQR Capital Management LLC increased its holdings in ManpowerGroup by 45.8% in the 4th quarter. AQR Capital Management LLC now owns 2,262,265 shares of the business services provider’s stock valued at $130,125,000 after purchasing an additional 711,043 shares in the last quarter. Invesco Ltd. raised its position in ManpowerGroup by 4.2% in the fourth quarter. Invesco Ltd. now owns 1,916,543 shares of the business services provider’s stock valued at $110,623,000 after purchasing an additional 77,234 shares during the period. Millennium Management LLC lifted its stake in shares of ManpowerGroup by 137.0% during the fourth quarter. Millennium Management LLC now owns 811,595 shares of the business services provider’s stock worth $46,845,000 after purchasing an additional 469,184 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of ManpowerGroup by 0.5% in the third quarter. Geode Capital Management LLC now owns 794,704 shares of the business services provider’s stock worth $58,444,000 after buying an additional 4,113 shares during the period. 98.03% of the stock is owned by institutional investors and hedge funds.

About ManpowerGroup

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.