ManpowerGroup (NYSE:MAN) Price Target Cut to $55.00 by Analysts at Truist Financial

ManpowerGroup (NYSE:MAN) had its target price cut by Truist Financial from $70.00 to $55.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a hold rating on the business services provider’s stock.

Other research analysts have also recently issued reports about the company. UBS Group lowered their price objective on ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Barclays raised shares of ManpowerGroup from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $55.00 to $50.00 in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of ManpowerGroup from $67.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $65.00.

ManpowerGroup Price Performance

Shares of ManpowerGroup stock opened at $50.35 on Tuesday. The stock has a market cap of $2.35 billion, a P/E ratio of 16.84 and a beta of 1.28. 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 stock’s fifty day moving average is $56.28 and its 200 day moving average is $60.18. ManpowerGroup has a one year low of $47.29 and a one year high of $78.87.

Institutional Investors Weigh In On ManpowerGroup

A number of institutional investors have recently added to or reduced their stakes in MAN. AQR Capital Management LLC boosted its position in shares of ManpowerGroup by 45.8% during the fourth quarter. AQR Capital Management LLC now owns 2,262,265 shares of the business services provider’s stock worth $130,125,000 after acquiring an additional 711,043 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of ManpowerGroup during the 4th quarter valued at about $34,200,000. Norges Bank bought a new position in shares of ManpowerGroup during the 4th quarter valued at about $27,706,000. Millennium Management LLC grew its position 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 valued at $46,845,000 after purchasing an additional 469,184 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of ManpowerGroup by 194.3% in the fourth quarter. Barclays PLC now owns 455,803 shares of the business services provider’s stock worth $26,308,000 after purchasing an additional 300,917 shares during the last quarter. 98.03% of the stock is owned by hedge funds and other institutional investors.

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.