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 on Friday . The stock 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.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MAN shares. UBS Group reduced their price objective on ManpowerGroup from $71.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Barclays reduced 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. 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. Finally, Truist Financial reiterated a “hold” rating and issued a $70.00 target price (down from $74.00) on shares of ManpowerGroup in a research report on Friday, January 31st. One equities 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 stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $69.33.

ManpowerGroup Stock Performance

The firm has a market capitalization of $2.52 billion, a P/E ratio of 17.97 and a beta of 1.45. The stock has a fifty day simple moving average of $57.70 and a two-hundred day simple moving average of $64.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.15.

Institutional Investors Weigh In On ManpowerGroup

A number of hedge funds have recently added to or reduced their stakes in the business. Commerce Bank grew its stake in ManpowerGroup by 4.1% in the third quarter. Commerce Bank now owns 4,272 shares of the business services provider’s stock valued at $314,000 after acquiring an additional 167 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of ManpowerGroup by 0.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 47,562 shares of the business services provider’s stock valued at $2,745,000 after buying an additional 234 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of ManpowerGroup by 4.5% during the third quarter. State of Alaska Department of Revenue now owns 5,510 shares of the business services provider’s stock valued at $405,000 after buying an additional 235 shares during the last quarter. Vident Advisory LLC boosted its position in ManpowerGroup by 2.8% in the fourth quarter. Vident Advisory LLC now owns 10,708 shares of the business services provider’s stock worth $618,000 after purchasing an additional 290 shares during the last quarter. Finally, Impact Partnership Wealth LLC raised its stake in shares of ManpowerGroup by 9.8% in the third quarter. Impact Partnership Wealth LLC now owns 3,693 shares of the business services provider’s stock valued at $271,000 after buying an additional 329 shares during the period. 98.03% of the stock is currently owned by 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.