JPMorgan Chase & Co. Raises ManpowerGroup (NYSE:MAN) Price Target to $84.00

ManpowerGroup (NYSE:MAN) had its price objective lifted by JPMorgan Chase & Co. from $82.00 to $84.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 13.47% from the company’s previous close.

A number of other research firms have also issued reports on MAN. Truist Financial raised their price target on shares of ManpowerGroup from $75.00 to $78.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. BMO Capital Markets reduced their price target on shares of ManpowerGroup from $86.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, February 1st. BNP Paribas reissued an “underperform” rating and set a $70.00 price target on shares of ManpowerGroup in a research report on Friday, January 5th. William Blair began coverage on shares of ManpowerGroup in a research report on Monday, January 8th. They set a “market perform” rating for the company. Finally, StockNews.com lowered shares of ManpowerGroup from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $83.13.

ManpowerGroup Stock Performance

Shares of ManpowerGroup stock opened at $74.03 on Friday. The firm has a market capitalization of $3.58 billion, a P/E ratio of 44.33, a PEG ratio of 0.60 and a beta of 1.54. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average price of $73.28 and a 200 day moving average price of $74.35. ManpowerGroup has a 52 week low of $67.35 and a 52 week high of $88.91.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings data on Tuesday, January 30th. The business services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.19 by $0.26. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.57 billion. ManpowerGroup had a net margin of 0.47% and a return on equity of 12.60%. ManpowerGroup’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm posted $2.08 EPS. Sell-side analysts expect that ManpowerGroup will post 5.01 EPS for the current year.

Institutional Investors Weigh In On ManpowerGroup

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in shares of ManpowerGroup by 345.1% during the third quarter. CWM LLC now owns 365 shares of the business services provider’s stock worth $27,000 after buying an additional 283 shares in the last quarter. Venturi Wealth Management LLC lifted its position in ManpowerGroup by 54.8% in the fourth quarter. Venturi Wealth Management LLC now owns 452 shares of the business services provider’s stock valued at $36,000 after buying an additional 160 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in ManpowerGroup by 19.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,011 shares of the business services provider’s stock valued at $74,000 after buying an additional 162 shares during the last quarter. Captrust Financial Advisors lifted its position in ManpowerGroup by 72.6% in the first quarter. Captrust Financial Advisors now owns 858 shares of the business services provider’s stock valued at $81,000 after buying an additional 361 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in ManpowerGroup by 145.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,086 shares of the business services provider’s stock valued at $86,000 after buying an additional 644 shares during the last quarter. Hedge funds and other institutional investors own 98.03% of the company’s stock.

About ManpowerGroup

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.