ManpowerGroup Hits New 52-Week High On Strategic Initiatives
Zacks Investment Research | Jul 16, 2017 09:15PM ET
Shares of business services provider ManpowerGroup Inc. (NYSE:MAN) hit a new 52-week high of $117.81 on Jul 14, before closing the trading session a tad lower at $117.47, for a healthy year-to-date return of 32.2%.
In the last one month, the stock has witnessed an uptrend. Owing to the upward movement in its price, the stock sports a Zacks Rank #1 (Strong Buy). It currently has a long-term earnings growth expectation of 12.00%.
Growth Drivers
The company has restructured its senior management with the strategic appointment of Becky Frankiewicz as the President of its North American business. Frankiewicz has a rich history of working with some of the top names in the industry. Before joining ManpowerGroup, she was leading Innovation & Strategy, Finance and Marketing across the Pepsico, Inc. (NYSE:PEP) portfolio. Her expertise in the field will help ManpowerGroup enhance its client offerings.
On Jun 13, 2017, Manpower collaborated with Rockwell Automation Inc. (NYSE:ROK) to train 1,000 military veterans for advanced manufacturing jobs. Both the companies are working closely together, utilizing existing programs to train veterans in advanced digital manufacturing jobs and other higher-tech roles in the industry. Per a survey conducted by ManpowerGroup, most U.S. employers anticipate that a higher skill level automation will increase the headcount. This will, in turn, help the company expand foothold and augment its top line.
The company has outperformed the Zacks categorized Original post
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