ManpowerGroup Inc. (MAN) Shares Gap Up to $70.22
ManpowerGroup Inc. (NYSE:MAN) gapped up before the market opened on Tuesday . The stock had previously closed at $70.04, but opened at $70.22. ManpowerGroup shares last traded at $71.32, with a volume of 355,504 shares changing hands.
MAN has been the subject of a number of recent analyst reports. William Blair lowered shares of ManpowerGroup from an “outperform” rating to a “market perform” rating in a report on Friday, June 24th. Barclays PLC lowered shares of ManpowerGroup from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $85.00 to $65.00 in a report on Friday, July 1st. Bank of America Corp. lowered shares of ManpowerGroup from a “neutral” rating to an “underperform” rating in a report on Friday, June 24th. Avondale Partners lowered shares of ManpowerGroup from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $74.00 to $96.00 in a report on Monday, June 27th. Finally, Credit Suisse Group AG lowered shares of ManpowerGroup from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $88.00 to $73.00 in a report on Monday, June 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $86.75.
The stock has a market cap of $4.86 billion and a P/E ratio of 12.12. The company’s 50 day moving average is $68.04 and its 200 day moving average is $74.97.
ManpowerGroup (NYSE:MAN) last posted its quarterly earnings data on Thursday, July 21st. The company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.52 by $0.08. During the same period in the previous year, the firm earned $1.33 earnings per share. The firm had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.06 billion. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that ManpowerGroup Inc. will post $5.89 earnings per share for the current fiscal year.
In other news, EVP Handel Michael J. Van sold 57,348 shares of ManpowerGroup stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $70.13, for a total transaction of $4,021,815.24. Following the completion of the sale, the executive vice president now directly owns 40,931 shares in the company, valued at $2,870,491.03. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Handel Michael J. Van sold 31,855 shares of ManpowerGroup stock in a transaction on Friday, July 29th. The stock was sold at an average price of $69.77, for a total value of $2,222,523.35. Following the sale, the executive vice president now owns 31,378 shares of the company’s stock, valued at $2,189,243.06. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in ManpowerGroup stock. Wells Fargo & Company MN boosted its position in ManpowerGroup Inc. (NYSE:MAN) by 32.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 217,441 shares of the company’s stock after buying an additional 53,064 shares during the period. Wells Fargo & Company MN owned about 0.29% of ManpowerGroup worth $18,328,000 at the end of the most recent reporting period.
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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