Analysts at Zacks Investment Research upgraded shares of ManpowerGroup Inc. (NYSE: MAN) from Hold to Buy today. With a rating of Buy on the shares, the company has a 52-week high of $93.34. A number of other analysts have issued reports on the stock recently, and ManpowerGroup Inc. has secured a consensus one-year price target of $78.41, above the opening price of $68.70, a difference of 11.59 percent. Usually, after analysts publish an upgrade report on a stock, they will later issue other updates, such as a price target change.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Yesterday ManpowerGroup Inc. (NYSE: MAN) shares last traded at $67.63, which represents a dip of $0.38 over the previous closing price. Opening at $68.70, they fluctuated from $67.63 and $68.96 throughout the day.
ManpowerGroup Inc. (NYSE: MAN) now has a market cap of 4.63B.
The stock’s average daily volume is 996,553 shares out of a total float 64,610,000 and some 471,057 shares crossed the trading desk yesterday, 90 percent lower than the average. Swing traders often use swings in trading volume to determine substantial volume growth or distribution by institutional investors, so trading volume is likely to increase in the next few days.
While higher trading for short periods will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks delivers a positive cue to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have substantial teams of analysts researching thousands of stocks, so it is good corroboration to see them buying a stock you’re researching.
By tracking the activity of these professional investors—and the moving averages they influence—it allows for traders to make more useful judgments on trades.
Trades for ManpowerGroup Inc. (NYSE: MAN) have ranged from $57.26 – 93.34, and the stock now has a 50-day MA of $69.90 and 200-day MA of $74.14. Today’s last price is 0.28% below the 52 week high of $93.34.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings by at least 25% over the past 3 years.
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