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.
A number of research analysts have recently issued reports on the stock. Bank of America Corp. reiterated a “buy” rating on shares of ManpowerGroup in a research note on Friday, June 10th. Avondale Partners cut shares of ManpowerGroup from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $74.00 to $96.00 in a research note on Monday, June 27th. BMO Capital Markets reiterated a “buy” rating on shares of ManpowerGroup in a research note on Monday, June 27th. Zacks Investment Research cut shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Finally, Credit Suisse Group AG cut shares of ManpowerGroup from an “outperform” rating to a “neutral” rating and cut their target price for the company from $88.00 to $73.00 in a research note on Monday, June 27th. One equities research 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’s stock. ManpowerGroup currently has an average rating of “Hold” and an average price target of $86.75.
The firm has a market capitalization of $4.90 billion and a P/E ratio of 12.21. The company’s 50 day moving average is $68.31 and its 200 day moving average is $74.94.
ManpowerGroup (NYSE:MAN) last announced its earnings results on Thursday, July 21st. The company reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.08. During the same quarter in the previous year, the company earned $1.33 EPS. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $5.06 billion. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts forecast that ManpowerGroup Inc. will post $5.89 earnings per share for the current fiscal year.
In related news, EVP Handel Michael J. Van sold 31,855 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $69.77, for a total transaction of $2,222,523.35. Following the sale, the executive vice president now owns 31,378 shares in the company, valued at approximately $2,189,243.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Handel Michael J. Van sold 57,348 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 40,931 shares in the company, valued at approximately $2,870,491.03. 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 stake in ManpowerGroup Inc. (NYSE:MAN) by 32.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 217,441 shares of the company’s stock after buying an additional 53,064 shares during the period. Wells Fargo & Company MN owned 0.29% of ManpowerGroup worth $18,328,000 at the end of the most recent quarter.
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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