ManpowerGroup (NYSE:MAN) Reaches New 52-Week Low – Here’s Why

by · The Markets Daily

ManpowerGroup Inc. (NYSE:MAN – Get Free Report) hit a new 52-week low on Friday . The company traded as low as $51.29 and last traded at $51.78, with a volume of 97537 shares changing hands. The stock had previously closed at $54.62.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays cut their target price on ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating for the company in a research note on Friday, January 3rd. UBS Group reduced their target price on shares of ManpowerGroup from $71.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Truist Financial reissued a “hold” rating and issued a $70.00 price target (down from $74.00) on shares of ManpowerGroup in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their price objective on ManpowerGroup from $67.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $69.33.

Read Our Latest Stock Report on MAN

ManpowerGroup Trading Down 4.5 %

The company has a market capitalization of $2.44 billion, a PE ratio of 17.45 and a beta of 1.43. The company has a quick ratio of 1.15, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The stock’s fifty day moving average price is $58.03 and its two-hundred day moving average price is $61.74.

Institutional Investors Weigh In On ManpowerGroup

Institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. grew its holdings in shares of ManpowerGroup by 0.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 47,562 shares of the business services provider’s stock worth $2,745,000 after acquiring an additional 234 shares during the period. Vident Advisory LLC boosted its holdings in shares of ManpowerGroup by 2.8% during the 4th quarter. Vident Advisory LLC now owns 10,708 shares of the business services provider’s stock valued at $618,000 after buying an additional 290 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of ManpowerGroup by 11.8% in the 3rd quarter. Captrust Financial Advisors now owns 3,260 shares of the business services provider’s stock worth $240,000 after acquiring an additional 344 shares in the last quarter. Twin Capital Management Inc. lifted its position in ManpowerGroup by 1.7% during the 4th quarter. Twin Capital Management Inc. now owns 25,896 shares of the business services provider’s stock valued at $1,495,000 after acquiring an additional 439 shares during the period. Finally, Bank of Nova Scotia boosted its stake in ManpowerGroup by 8.8% during the fourth quarter. Bank of Nova Scotia now owns 5,676 shares of the business services provider’s stock worth $328,000 after acquiring an additional 458 shares in the last quarter. 98.03% of the stock is owned by hedge funds and other institutional investors.

ManpowerGroup Company Profile

(Get Free Report)

ManpowerGroup Inc provides workforce solutions and services worldwide. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.

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