Zacks Investment Research upgraded shares of ManpowerGroup (NYSE:MAN) from a hold rating to a buy rating in a research note released on Monday morning. Zacks Investment Research currently has $137.00 target price on the business services provider’s stock.
According to Zacks, “ManpowerGroup reported strong fourth-quarter 2017 results with healthy year-over-year increase in earnings and revenues on the back of diligent execution of operational plans. ManpowerGroup’s brand value and strong global network provide a competitive advantage and reinforces its dominant position in the market. Through its cost recalibration and simplification plan, the company has regularly fine-tuned its network and augmented its global delivery model. Management is focusing on internal drivers like disciplined pricing and tough control on productivity to improve margins. The company is poised to grow on the back of a productive workforce and sound restructuring initiatives. However, revenues are likely to be affected by the Brexit referendum as nearly two-thirds of the total revenue come from Europe and the U.K. ManpowerGroup has also underperformed the industry in the last three months.”
Other equities analysts have also recently issued reports about the company. Argus raised their price objective on ManpowerGroup from $118.00 to $135.00 and gave the company a buy rating in a report on Thursday, October 26th. Nomura raised their price objective on ManpowerGroup from $127.00 to $134.00 and gave the company a buy rating in a report on Monday, October 23rd. BMO Capital Markets reissued a buy rating and set a $134.00 price objective on shares of ManpowerGroup in a report on Friday, October 13th. ValuEngine raised ManpowerGroup from a hold rating to a buy rating in a report on Friday, February 2nd. Finally, Deutsche Bank reissued a hold rating and set a $110.00 price objective on shares of ManpowerGroup in a report on Tuesday, January 9th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $124.50.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings results on Friday, February 2nd. The business services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.07. ManpowerGroup had a return on equity of 17.86% and a net margin of 2.59%. The firm had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter last year, the firm posted $1.87 EPS. The company’s revenue was up 13.7% compared to the same quarter last year. equities research analysts forecast that ManpowerGroup will post 8.96 earnings per share for the current year.
In related news, Director Patricia Hemingway Hall sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $127.54, for a total transaction of $382,620.00. Following the transaction, the director now directly owns 4,021 shares in the company, valued at approximately $512,838.34. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Richard Buchband sold 2,059 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $126.48, for a total value of $260,422.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,559 shares of company stock worth $1,976,187. 0.87% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of MAN. FMR LLC grew its position in ManpowerGroup by 260.1% during the 2nd quarter. FMR LLC now owns 248,044 shares of the business services provider’s stock worth $27,694,000 after acquiring an additional 179,162 shares during the last quarter. OxFORD Asset Management LLP bought a new position in ManpowerGroup during the 2nd quarter worth approximately $642,000. Shelton Capital Management bought a new position in ManpowerGroup during the 2nd quarter worth approximately $574,000. Janus Henderson Group PLC grew its position in ManpowerGroup by 1,838.6% during the 2nd quarter. Janus Henderson Group PLC now owns 192,674 shares of the business services provider’s stock worth $21,512,000 after acquiring an additional 182,735 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in ManpowerGroup by 26.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 140,745 shares of the business services provider’s stock worth $15,714,000 after acquiring an additional 29,512 shares during the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.
ManpowerGroup Company Profile
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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