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ManpowerGroup on Fire: What's Driving the Stock Higher?

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Investor sentiment is often swayed by breaking news and headlines, keeping the stock market in its thrall. One stock which has gained despite the economic volatility is ManpowerGroup (MAN - Free Report) . Its shares have surged more than 22% in the past three months.

If you haven’t taken advantage of the share price appreciation yet, this might be the right time for you to add the stock as ManpowerGroup looks promising and is poised to carry the momentum ahead. Additionally, the stock carries a Zacks Rank #2 (Buy) with an impressive long-term earnings growth rate of 10.3% and a VGM Score of “B.”

ManpowerGroup has been delivering better than expected bottom-line results for nearly seven years. Its impressive earnings performance and the strategic progress it made in 2015, reflects the efficiency of its management team. Despite volatile macroeconomic conditions, the company remains optimistic about its future performance on the back of its strategic initiatives.

The company is focusing on acquisition and partnership which is driving its shares higher. Recently, ManpowerGroup has entered into an agreement with Ciber, Inc. , a major global information technology consulting, services and outsourcing firm, to purchase its Norway operations. The acquisition of Ciber business in Norway will help the ManpowerGroup's Experis in meeting the increasing demand in the IT sector.

In Jun 2016, Professional Diversity Network entered into a partnership with ManpowerGroup Solutions, one of the major brands of ManpowerGroup. This alliance has been formed with the purpose to provide diversified human skills to different organizations across the U.S.  Professional Diversity Network provides job opportunities to various professionals through its online networks. This partnership will consequently enable ManpowerGroup Solutions to gain quick access to over 12 million candidates.

ManpowerGroup’s wide range of services makes the company a true global staffing firm. It provides services for the entire employment and business cycle including permanent, temporary and contract recruitment, employee assessment as well as selection, training, outplacement, outsourcing and consulting. The company’s brand value and strong global network provide it a competitive advantage and reinforces its dominant position in the market.

Other Stocks to Consider

Stocks which warrant a look in this sector include Gee Group Inc. and Tarena International, Inc. (TEDU - Free Report) . Both these stocks holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Gee Group shares have gained more than 15% in the past three months.

Tarena International shares have gained more than 47% in the past three months.

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