Zacks Investment Research Downgrades ManpowerGroup (MAN) to Hold
ManpowerGroup (NYSE:MAN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “ManpowerGroup’s brand value and strong global network provide a competitive advantage and reinforces its dominant position in the market. The company is continuously making significant investments to expand permanent recruitment solutions offerings to capitalize on the future revenue-generating opportunities. Through its cost recalibration and simplification plan, the company has fine-tuned its network and augmented its global delivery model. ManpowerGroup has also outperformed the industry year to date. 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. The employment services industry is also highly competitive with low barriers to entry and ManpowerGroup faces stiff competition from other established players in both domestic and international markets that limits its profitability.”
MAN has been the topic of several other research reports. BMO Capital Markets reaffirmed a “buy” rating and set a $124.00 price objective on shares of ManpowerGroup in a research report on Friday, September 1st. BidaskClub lowered shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Credit Suisse Group reaffirmed a “neutral” rating and set a $111.00 price objective (up previously from $106.00) on shares of ManpowerGroup in a research report on Tuesday, July 25th. Northcoast Research reaffirmed a “neutral” rating on shares of ManpowerGroup in a research report on Monday, July 17th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $111.00 price objective (up previously from $104.00) on shares of ManpowerGroup in a research report on Friday, July 14th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. ManpowerGroup currently has a consensus rating of “Hold” and a consensus target price of $109.60.
Shares of ManpowerGroup (NYSE MAN) opened at 113.80 on Wednesday. The firm’s 50-day moving average is $109.15 and its 200 day moving average is $105.57. ManpowerGroup has a 1-year low of $67.47 and a 1-year high of $119.59. The stock has a market capitalization of $7.59 billion, a P/E ratio of 17.41 and a beta of 1.38.
ManpowerGroup (NYSE:MAN) last issued its quarterly earnings data on Monday, July 24th. The business services provider reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.01). The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.06 billion. ManpowerGroup had a net margin of 2.24% and a return on equity of 17.90%. ManpowerGroup’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.60 EPS. On average, analysts expect that ManpowerGroup will post $6.75 EPS for the current fiscal year.
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In other ManpowerGroup news, SVP Richard Buchband sold 1,250 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $109.00, for a total transaction of $136,250.00. Following the transaction, the senior vice president now owns 3,884 shares in the company, valued at $423,356. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $2,098,525.68. Following the transaction, the executive vice president now owns 1,659 shares in the company, valued at approximately $174,842.01. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,108 shares of company stock worth $13,165,550. Corporate insiders own 0.87% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in ManpowerGroup during the first quarter valued at approximately $101,000. Acrospire Investment Management LLC grew its holdings in ManpowerGroup by 27.6% during the second quarter. Acrospire Investment Management LLC now owns 924 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 200 shares during the last quarter. IFP Advisors Inc grew its holdings in ManpowerGroup by 14.1% during the second quarter. IFP Advisors Inc now owns 941 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 116 shares during the last quarter. First Quadrant L P CA acquired a new position in ManpowerGroup during the second quarter valued at approximately $123,000. Finally, Harfst & Associates Inc. acquired a new position in ManpowerGroup during the second quarter valued at approximately $149,000. Institutional investors own 93.72% of the company’s stock.
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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