ManpowerGroup (NYSE: MAN) shares fell back in value on Thursday February 2 on slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.10% fell 34 points, or 0.2%, to 19,858. The S&P 500 SPX, -0.11% lost 4 points to 2,276, a drop of 0.2%. The Nasdaq Composite Index COMP, -0.05% slid 16 points, or 0.3%, to 5,626. Among the most actively traded Nasdaq stocks was Facebook Inc FB, +0.31% which fell 0.7% a day after it reported its quarterly results.
Analysts at Zacks Investment Research upgraded shares of ManpowerGroup (NYSE: MAN) from Hold to Buy today. The company currently has a rating of Buy on the stock. A number of other analysts have issued reports on the stock in recent days, and the company has secured a consensus one-year price target of $100.41, above the opening price of $96.89. ManpowerGroup stock has a 52-week high of $98.02. Typically, after analysts publish an upgrade report on a stock, they will subsequently issue other revisions, such as a price target change.
Yesterday ManpowerGroup (NYSE: MAN) shares last traded at $97.17, which represents a decrease of $0.17 compared to the previous closing price. Opening at $96.89, they ranged from $96.12 and $97.60 throughout the day.
ManpowerGroup (NYSE: MAN) now has a market cap of 6.52B.
ManpowerGroup (NYSE: MAN) Average Daily Trading Volume
116,267 shares crossed the trading desk yesterday, 32 percent below normal, out of a total float 66,670,000. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
ManpowerGroup (NYSE: MAN) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, ManpowerGroup (NYSE: MAN) now has a 50-day MA of $91.90 and 200-day MA of $79.10. It has traded in a 52-week range between $57.26 – 98.02 and today’s last price is 0.87%% lower than the 52 week high of $98.02.
Earnings growth is a crucial factor to consider when investing in stocks and investors identify companies that have raised their earnings at least 25% or more for 3 consecutive years.
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