ManpowerGroup (NYSE:MAN) Stock Price Up 4.6% – Here’s What Happened

ManpowerGroup Inc. (NYSE:MAN)’s stock price was up 4.6% on Thursday . The company traded as high as $61.06 and last traded at $61.28. Approximately 725,307 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 770,107 shares. The stock had previously closed at $58.61.

Analysts Set New Price Targets

MAN has been the topic of a number of recent research reports. 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. Truist Financial reaffirmed a “hold” rating and issued a $70.00 price objective (down from $74.00) on shares of ManpowerGroup in a research report on Friday, January 31st. UBS Group dropped their price objective on ManpowerGroup from $71.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Barclays dropped their price target on shares of ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating on the stock in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $69.33.

ManpowerGroup Stock Up 5.9 %

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 stock has a market cap of $2.90 billion, a P/E ratio of 20.75 and a beta of 1.45. The company’s 50 day moving average price is $57.40 and its two-hundred day moving average price is $63.51.

Institutional Investors Weigh In On ManpowerGroup

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its position in ManpowerGroup by 78.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,280 shares of the business services provider’s stock worth $756,000 after buying an additional 4,531 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in ManpowerGroup by 4.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 5,510 shares of the business services provider’s stock worth $405,000 after acquiring an additional 235 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in ManpowerGroup by 4.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 403,070 shares of the business services provider’s stock valued at $29,634,000 after purchasing an additional 15,407 shares in the last quarter. M&G PLC increased its stake in shares of ManpowerGroup by 4.4% in the third quarter. M&G PLC now owns 85,658 shares of the business services provider’s stock worth $6,339,000 after purchasing an additional 3,615 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of ManpowerGroup during the 3rd quarter valued at $54,000. 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.