ManpowerGroup (NYSE:MAN) Hits New 1-Year Low – Here’s What Happened

ManpowerGroup Inc. (NYSE:MAN)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $53.67 and last traded at $53.73, with a volume of 610568 shares trading hands. The stock had previously closed at $54.95.

Wall Street Analysts Forecast Growth

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

ManpowerGroup Stock Performance

The company has a 50-day moving average of $57.70 and a 200 day moving average of $64.44. 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 firm has a market capitalization of $2.52 billion, a PE ratio of 17.97 and a beta of 1.45.

Hedge Funds Weigh In On ManpowerGroup

A number of hedge funds and other institutional investors have recently modified their holdings of MAN. Pacer Advisors Inc. boosted its holdings in shares of ManpowerGroup by 12,496.6% in the 3rd quarter. Pacer Advisors Inc. now owns 901,536 shares of the business services provider’s stock worth $66,281,000 after purchasing an additional 894,379 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of ManpowerGroup by 45.8% in the 4th quarter. AQR Capital Management LLC now owns 2,262,265 shares of the business services provider’s stock worth $130,125,000 after purchasing an additional 711,043 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of ManpowerGroup in the 4th quarter worth about $34,200,000. Norges Bank purchased a new position in shares of ManpowerGroup in the 4th quarter worth about $27,706,000. Finally, Millennium Management LLC boosted its holdings in shares of ManpowerGroup by 137.0% in the 4th quarter. Millennium Management LLC now owns 811,595 shares of the business services provider’s stock worth $46,845,000 after purchasing an additional 469,184 shares in the last quarter. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

ManpowerGroup Company Profile

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.