ManpowerGroup (NYSE:MAN) Shares Gap Down – Should You Sell?

ManpowerGroup Inc. (NYSE:MAN) shares gapped down prior to trading on Thursday . The stock had previously closed at $74.30, but opened at $70.58. ManpowerGroup shares last traded at $67.64, with a volume of 302,738 shares traded.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MAN shares. JPMorgan Chase & Co. reduced their price objective on shares of ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. BMO Capital Markets dropped their price target on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating on the stock in a report on Friday. Truist Financial decreased their price objective on shares of ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a report on Friday. Finally, UBS Group dropped their price target on ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, ManpowerGroup has an average rating of “Hold” and an average target price of $76.60.

ManpowerGroup Trading Down 2.7 %

The stock has a fifty day simple moving average of $71.72 and a 200 day simple moving average of $72.67. The firm has a market capitalization of $3.11 billion, a P/E ratio of 67.27 and a beta of 1.45. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.45.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings data on Thursday, July 18th. The business services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. ManpowerGroup had a net margin of 0.25% and a return on equity of 11.08%. The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period last year, the firm posted $1.58 EPS. The company’s revenue was down 6.9% on a year-over-year basis. As a group, research analysts forecast that ManpowerGroup Inc. will post 4.87 EPS for the current year.

Institutional Trading of ManpowerGroup

Several hedge funds have recently bought and sold shares of MAN. Blue Trust Inc. lifted its position in shares of ManpowerGroup by 248.3% in the third quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock worth $37,000 after buying an additional 375 shares in the last quarter. CWM LLC raised its holdings in shares of ManpowerGroup by 77.0% during the 3rd quarter. CWM LLC now owns 13,188 shares of the business services provider’s stock worth $970,000 after acquiring an additional 5,739 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of ManpowerGroup by 25.4% during the 3rd quarter. SG Americas Securities LLC now owns 11,982 shares of the business services provider’s stock worth $881,000 after acquiring an additional 2,425 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of ManpowerGroup during the 2nd quarter valued at approximately $421,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of ManpowerGroup in the second quarter valued at $3,909,000. Hedge funds and other institutional investors own 98.03% of the company’s stock.

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.