BMO Capital Markets Cuts ManpowerGroup (MAN) Price Target to $136.00

ManpowerGroup (NYSE:MAN) had its price target trimmed by BMO Capital Markets to $136.00 in a research note issued to investors on Monday morning, The Fly reports. They currently have a buy rating on the business services provider’s stock.

A number of other analysts have also recently commented on the stock. Zacks Investment Research cut shares of ManpowerGroup from a buy rating to a hold rating in a research report on Friday. ValuEngine upgraded shares of ManpowerGroup from a hold rating to a buy rating in a research report on Friday. Deutsche Bank restated a hold rating and issued a $110.00 price objective on shares of ManpowerGroup in a research report on Tuesday, January 9th. Argus upped their price objective on shares of ManpowerGroup from $118.00 to $135.00 and gave the company a buy rating in a research report on Thursday, October 26th. Finally, Nomura upped their price objective on shares of ManpowerGroup from $127.00 to $134.00 and gave the company a buy rating in a research report on Monday, October 23rd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. ManpowerGroup has a consensus rating of Hold and a consensus target price of $124.50.

Shares of ManpowerGroup (NYSE:MAN) opened at $113.20 on Monday. The company has a market cap of $8,117.90, a price-to-earnings ratio of 17.33 and a beta of 1.29. ManpowerGroup has a 1 year low of $94.34 and a 1 year high of $136.93. The company has a current ratio of 1.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.17.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Friday, February 2nd. The business services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $2.05 by $0.07. The company had revenue of $5.64 billion during the quarter, compared to analysts’ expectations of $5.54 billion. ManpowerGroup had a net margin of 2.59% and a return on equity of 17.86%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.87 EPS. equities research analysts forecast that ManpowerGroup will post 7.82 earnings per share for the current fiscal year.

In related news, Director Cari M. Dominguez sold 500 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $126.29, for a total value of $63,145.00. Following the completion of the transaction, the director now directly owns 16,990 shares of the company’s stock, valued at approximately $2,145,667.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Richard Buchband sold 2,059 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $126.48, for a total transaction of $260,422.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,559 shares of company stock valued at $1,976,187. Company insiders own 0.87% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its stake in ManpowerGroup by 33.2% in the 4th quarter. Acadian Asset Management LLC now owns 2,296,960 shares of the business services provider’s stock worth $289,674,000 after purchasing an additional 573,030 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in ManpowerGroup by 4.1% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,208,930 shares of the business services provider’s stock worth $142,436,000 after purchasing an additional 47,200 shares during the period. APG Asset Management N.V. boosted its stake in ManpowerGroup by 15.7% in the 4th quarter. APG Asset Management N.V. now owns 1,107,339 shares of the business services provider’s stock worth $116,295,000 after purchasing an additional 149,900 shares during the period. Russell Investments Group Ltd. boosted its stake in ManpowerGroup by 26.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 567,167 shares of the business services provider’s stock worth $66,823,000 after purchasing an additional 119,378 shares during the period. Finally, Legal & General Group Plc boosted its stake in ManpowerGroup by 5.6% in the 3rd quarter. Legal & General Group Plc now owns 450,689 shares of the business services provider’s stock worth $53,108,000 after purchasing an additional 24,027 shares during the period. 95.99% of the stock is owned by hedge funds and other institutional investors.

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About ManpowerGroup

ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.

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