JPMorgan Chase & Co. Has Lowered Expectations for ManpowerGroup (NYSE:MAN) Stock Price

ManpowerGroup (NYSE:MAN) had its price objective reduced by investment analysts at JPMorgan Chase & Co. from $65.00 to $50.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 23.37% from the company’s current price.

Several other research firms have also weighed in on MAN. UBS Group lowered their price target on ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Truist Financial lowered their target price on shares of ManpowerGroup from $55.00 to $48.00 and set a “hold” rating on the stock in a report on Monday. BMO Capital Markets decreased their price objective on shares of ManpowerGroup from $54.00 to $48.00 and set a “market perform” rating for the company in a research report on Monday. Finally, 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. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, ManpowerGroup currently has a consensus rating of “Hold” and a consensus price target of $57.50.

ManpowerGroup Stock Up 1.1 %

NYSE MAN traded up $0.46 during trading on Monday, hitting $40.53. The stock had a trading volume of 852,098 shares, compared to its average volume of 830,781. ManpowerGroup has a 12 month low of $39.22 and a 12 month high of $78.87. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.15 and a current ratio of 1.12. The company’s 50-day moving average price is $55.49 and its two-hundred day moving average price is $59.49. The company has a market capitalization of $1.89 billion, a PE ratio of 13.56 and a beta of 1.28.

ManpowerGroup (NYSE:MAN) last released its earnings results on Thursday, April 17th. The business services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). ManpowerGroup had a net margin of 0.81% and a return on equity of 10.19%. The business had revenue of $698.30 million during the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the business posted $0.94 EPS. As a group, sell-side analysts forecast that ManpowerGroup will post 4.23 EPS for the current year.

Hedge Funds Weigh In On ManpowerGroup

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in shares of ManpowerGroup by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,493,838 shares of the business services provider’s stock valued at $143,942,000 after purchasing an additional 59,763 shares during the period. AQR Capital Management LLC grew its stake 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 buying an additional 711,043 shares during the last quarter. Invesco Ltd. raised its holdings in ManpowerGroup by 4.2% in the 4th quarter. Invesco Ltd. now owns 1,916,543 shares of the business services provider’s stock valued at $110,623,000 after acquiring an additional 77,234 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in ManpowerGroup by 73.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,027,000 shares of the business services provider’s stock worth $59,443,000 after acquiring an additional 434,480 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings 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 acquiring an additional 469,184 shares during the period. 98.03% of the stock is owned by 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.