ManpowerGroup (NYSE:MAN) Shares Gap Down – Here’s What Happened

ManpowerGroup Inc. (NYSE:MAN) gapped down prior to trading on Monday . The stock had previously closed at $44.25, but opened at $40.95. ManpowerGroup shares last traded at $42.36, with a volume of 160,488 shares.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Truist Financial decreased their price target on ManpowerGroup from $55.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, April 21st. BMO Capital Markets lowered their target price on ManpowerGroup from $54.00 to $48.00 and set a “market perform” rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. reduced their price target on shares of ManpowerGroup from $65.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. UBS Group lowered their price objective on shares of ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Finally, Barclays upgraded shares of ManpowerGroup from an “underweight” rating to an “equal weight” rating and dropped their target price for the company 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $57.50.

ManpowerGroup Price Performance

The business’s 50-day simple moving average is $53.02 and its two-hundred day simple moving average is $57.48. The company has a quick ratio of 1.15, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.95 billion, a P/E ratio of 13.98 and a beta of 1.28.

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

Institutional Trading of ManpowerGroup

Institutional investors and hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its position in shares of ManpowerGroup by 0.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 47,562 shares of the business services provider’s stock worth $2,745,000 after buying an additional 234 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in shares of ManpowerGroup by 2.1% during the 1st quarter. SummerHaven Investment Management LLC now owns 11,657 shares of the business services provider’s stock valued at $675,000 after acquiring an additional 238 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of ManpowerGroup by 48.6% during the first quarter. Fifth Third Bancorp now owns 743 shares of the business services provider’s stock worth $43,000 after purchasing an additional 243 shares in the last quarter. Principal Financial Group Inc. raised its stake in ManpowerGroup by 0.3% in the first quarter. Principal Financial Group Inc. now owns 107,969 shares of the business services provider’s stock valued at $6,249,000 after purchasing an additional 278 shares in the last quarter. Finally, Vident Advisory LLC lifted its position in ManpowerGroup by 2.8% during the fourth quarter. Vident Advisory LLC now owns 10,708 shares of the business services provider’s stock valued at $618,000 after purchasing an additional 290 shares during the last quarter. 98.03% of the stock is currently owned by hedge funds and other 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.