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

Shares of ManpowerGroup Inc. (NYSE:MAN) reached a new 52-week low during trading on Friday . The company traded as low as $51.29 and last traded at $51.78, with a volume of 97537 shares trading hands. The stock had previously closed at $54.62.

Analyst Ratings Changes

MAN has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their target price on ManpowerGroup from $67.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Barclays reduced their price objective on ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating on the stock in a research report on Friday, January 3rd. UBS Group dropped their target price on ManpowerGroup from $71.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Truist Financial reiterated a “hold” rating and set a $70.00 price target (down previously from $74.00) on shares of ManpowerGroup in a report on Friday, January 31st. One 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’s stock. Based on data from MarketBeat, ManpowerGroup has an average rating of “Hold” and a consensus target price of $69.33.

ManpowerGroup Stock Down 4.5 %

The firm has a 50-day moving average of $57.86 and a two-hundred day moving average of $61.52. 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 company has a market capitalization of $2.44 billion, a PE ratio of 17.45 and a beta of 1.28.

Institutional Trading of ManpowerGroup

Hedge funds and other institutional investors have recently modified their holdings of the business. Merit Financial Group LLC purchased a new position in ManpowerGroup during the fourth quarter worth about $241,000. BNP Paribas Financial Markets boosted its position in shares of ManpowerGroup by 168.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 29,904 shares of the business services provider’s stock worth $2,199,000 after purchasing an additional 18,764 shares during the period. Sanctuary Advisors LLC increased its holdings in ManpowerGroup by 39.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 7,754 shares of the business services provider’s stock valued at $570,000 after purchasing an additional 2,208 shares during the last quarter. AlphaQuest LLC raised its position in ManpowerGroup by 4,364.3% in the fourth quarter. AlphaQuest LLC now owns 27,991 shares of the business services provider’s stock valued at $1,616,000 after purchasing an additional 27,364 shares during the period. Finally, National Bank of Canada FI acquired a new position in ManpowerGroup during the third quarter worth $1,250,000. 98.03% of the stock is owned by institutional investors and hedge funds.

About ManpowerGroup

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.