Argus Upgrades ManpowerGroup (NYSE:MAN) to “Buy”

ManpowerGroup (NYSE:MAN) was upgraded by Argus from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage presently has a $42.00 target price on the business services provider’s stock. Argus’ target price suggests a potential upside of 14.39% from the company’s current price.

A number of other research firms also recently issued reports on MAN. JPMorgan Chase & Co. decreased their target price on shares of ManpowerGroup from $52.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, October 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of ManpowerGroup in a research note on Monday, December 29th. The Goldman Sachs Group reiterated a “sell” rating and issued a $30.00 price objective on shares of ManpowerGroup in a research report on Tuesday. Truist Financial dropped their target price on ManpowerGroup from $48.00 to $44.00 and set a “hold” rating on the stock in a research report on Monday, October 13th. Finally, Barclays lowered their price target on ManpowerGroup from $50.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Friday, October 17th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $41.13.

ManpowerGroup Trading Up 1.1%

NYSE MAN opened at $36.72 on Tuesday. ManpowerGroup has a 12-month low of $26.14 and a 12-month high of $63.35. The company has a fifty day simple moving average of $29.91 and a two-hundred day simple moving average of $34.69. The company has a current ratio of 1.11, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1.70 billion, a P/E ratio of -122.39 and a beta of 0.88.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Thursday, January 29th. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The company had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.63 billion. ManpowerGroup had a positive return on equity of 6.81% and a negative net margin of 0.07%.The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $1.02 EPS. On average, analysts forecast that ManpowerGroup will post 4.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in ManpowerGroup by 0.3% during the third quarter. Vanguard Group Inc. now owns 6,211,092 shares of the business services provider’s stock worth $235,400,000 after buying an additional 19,501 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of ManpowerGroup by 60.3% during the 3rd quarter. AQR Capital Management LLC now owns 3,704,326 shares of the business services provider’s stock worth $140,394,000 after acquiring an additional 1,393,622 shares during the period. Schroder Investment Management Group boosted its position in shares of ManpowerGroup by 1.4% during the 3rd quarter. Schroder Investment Management Group now owns 1,803,686 shares of the business services provider’s stock valued at $68,360,000 after acquiring an additional 25,108 shares during the last quarter. Alberta Investment Management Corp grew its holdings in shares of ManpowerGroup by 772.9% in the third quarter. Alberta Investment Management Corp now owns 1,059,100 shares of the business services provider’s stock valued at $40,140,000 after purchasing an additional 937,771 shares during the period. Finally, Balyasny Asset Management L.P. increased its position in ManpowerGroup by 696.9% during the second quarter. Balyasny Asset Management L.P. now owns 991,063 shares of the business services provider’s stock worth $40,039,000 after purchasing an additional 866,693 shares during the last quarter. 98.03% of the stock is currently owned by institutional investors and hedge funds.

About ManpowerGroup

ManpowerGroup (NYSE: MAN) is a global leader in workforce solutions, offering a broad spectrum of staffing and talent management services. Founded in 1948 and headquartered in Milwaukee, Wisconsin, the company has grown from a temporary staffing firm to a diversified provider of workforce consultancy, recruitment, and outsourcing services. ManpowerGroup is publicly traded on the New York Stock Exchange under the ticker MAN.

The company’s service offerings are organized into four principal brands.