ManpowerGroup (NYSE:MAN) Upgraded by The Goldman Sachs Group to Neutral Rating

ManpowerGroup (NYSE:MAN) was upgraded by equities research analysts at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a $30.00 price objective on the business services provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 13.61% from the stock’s previous close.

MAN has been the subject of several other reports. UBS Group set a $35.00 target price on ManpowerGroup in a report on Friday, January 30th. Argus upgraded ManpowerGroup from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Tuesday, February 3rd. Wall Street Zen raised ManpowerGroup from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of ManpowerGroup in a research note on Monday, December 29th. Finally, Robert W. Baird set a $50.00 price objective on ManpowerGroup in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.25.

ManpowerGroup Trading Up 0.8%

Shares of ManpowerGroup stock opened at $26.41 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $30.02 and a 200-day simple moving average of $31.93. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -88.01 and a beta of 0.91. ManpowerGroup has a 12-month low of $25.15 and a 12-month high of $61.09.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings results on Thursday, January 29th. The business services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. ManpowerGroup had a negative net margin of 0.07% and a positive return on equity of 6.81%. The firm had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same period last year, the business earned $1.02 EPS. ManpowerGroup’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities analysts forecast that ManpowerGroup will post 4.23 EPS for the current fiscal year.

Hedge Funds Weigh In On ManpowerGroup

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LLC increased its position in ManpowerGroup by 286.1% in the 4th quarter. Corient Private Wealth LLC now owns 48,874 shares of the business services provider’s stock valued at $1,453,000 after acquiring an additional 36,215 shares during the period. Vident Advisory LLC lifted its position in ManpowerGroup by 38.5% during the 4th quarter. Vident Advisory LLC now owns 23,877 shares of the business services provider’s stock worth $710,000 after acquiring an additional 6,640 shares during the period. State of Tennessee Department of Treasury purchased a new position in shares of ManpowerGroup in the 4th quarter valued at approximately $318,000. Empowered Funds LLC grew its stake in shares of ManpowerGroup by 10.7% in the 4th quarter. Empowered Funds LLC now owns 163,123 shares of the business services provider’s stock valued at $4,850,000 after purchasing an additional 15,743 shares during the last quarter. Finally, XTX Topco Ltd increased its holdings in shares of ManpowerGroup by 274.8% in the fourth quarter. XTX Topco Ltd now owns 65,601 shares of the business services provider’s stock valued at $1,950,000 after purchasing an additional 48,099 shares during the period. Hedge funds and other institutional investors own 98.03% of the company’s stock.

ManpowerGroup Company Profile

ManpowerGroup (NYSE: MAN) is a global leader in workforce solutions, offering a broad spectrum of staffing and talent management services. Founded in 1948 and headquartered in Milwaukee, Wisconsin, the company has grown from a temporary staffing firm to a diversified provider of workforce consultancy, recruitment, and outsourcing services. ManpowerGroup is publicly traded on the New York Stock Exchange under the ticker MAN.

The company’s service offerings are organized into four principal brands.