ManpowerGroup (MAN) Price Target Increased to $134.00 by Analysts at Nomura

ManpowerGroup (NYSE:MAN) had its price target upped by analysts at Nomura from $127.00 to $134.00 in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the business services provider’s stock. Nomura’s target price indicates a potential upside of 9.17% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of ManpowerGroup from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. BMO Capital Markets reiterated a “buy” rating and set a $124.00 price objective on shares of ManpowerGroup in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Tuesday, July 4th. SunTrust Banks, Inc. reiterated a “hold” rating and set a $107.00 price objective on shares of ManpowerGroup in a research note on Friday. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $111.00 price objective (up from $106.00) on shares of ManpowerGroup in a research note on Tuesday, July 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $125.00.

ManpowerGroup (NYSE MAN) traded down 0.64% during trading on Monday, hitting $121.95. 465,721 shares of the stock traded hands. The firm has a 50-day moving average price of $117.89 and a 200 day moving average price of $109.16. The firm has a market cap of $8.14 billion, a PE ratio of 18.66 and a beta of 1.40. ManpowerGroup has a 12 month low of $74.07 and a 12 month high of $125.08.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Friday, October 20th. The business services provider reported $2.04 EPS for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.08. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.41 billion. ManpowerGroup had a net margin of 2.24% and a return on equity of 17.90%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.87 EPS. On average, equities analysts forecast that ManpowerGroup will post $6.83 EPS for the current fiscal year.

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In related news, EVP Sriram Chandrashekar sold 19,912 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $105.39, for a total transaction of $2,098,525.68. Following the completion of the sale, the executive vice president now owns 1,659 shares of the company’s stock, valued at $174,842.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ulice Payne, Jr. sold 2,100 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $107.94, for a total transaction of $226,674.00. Following the sale, the director now directly owns 11,136 shares of the company’s stock, valued at approximately $1,202,019.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,858 shares of company stock worth $13,029,300. Insiders own 0.87% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in ManpowerGroup by 0.3% during the second quarter. BlackRock Inc. now owns 8,214,114 shares of the business services provider’s stock valued at $917,106,000 after acquiring an additional 28,442 shares during the last quarter. Vanguard Group Inc. lifted its position in ManpowerGroup by 4.4% during the second quarter. Vanguard Group Inc. now owns 6,286,080 shares of the business services provider’s stock valued at $701,840,000 after acquiring an additional 267,064 shares during the last quarter. Boston Partners lifted its position in ManpowerGroup by 3.3% during the second quarter. Boston Partners now owns 3,697,608 shares of the business services provider’s stock valued at $412,838,000 after acquiring an additional 119,340 shares during the last quarter. AJO LP lifted its position in ManpowerGroup by 30.9% during the second quarter. AJO LP now owns 1,839,632 shares of the business services provider’s stock valued at $205,395,000 after acquiring an additional 434,069 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in ManpowerGroup by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,617,999 shares of the business services provider’s stock valued at $180,643,000 after acquiring an additional 69,089 shares during the last quarter. 93.64% of the stock is owned by institutional investors.

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.

Analyst Recommendations for ManpowerGroup (NYSE:MAN)

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