Brokerages Set Manhattan Associates Inc. (NASDAQ:MANH) Price Target at $72.17
Manhattan Associates Inc. (NASDAQ:MANH) has received a consensus rating of “Buy” from the seven ratings firms that are currently covering the company. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $72.17.
Several research analysts recently issued reports on MANH shares. Brean Capital reissued a “buy” rating and set a $75.00 target price on shares of Manhattan Associates in a report on Wednesday, August 3rd. Zacks Investment Research cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Wednesday, June 22nd. Finally, Raymond James Financial Inc. reissued an “outperform” rating and set a $74.00 target price (down previously from $75.00) on shares of Manhattan Associates in a report on Friday, July 15th.
Shares of Manhattan Associates (NASDAQ:MANH) opened at 58.68 on Thursday. The company has a market capitalization of $4.20 billion, a PE ratio of 37.14 and a beta of 1.30. Manhattan Associates has a 12 month low of $44.14 and a 12 month high of $77.75. The stock has a 50 day moving average price of $59.55 and a 200-day moving average price of $60.83.
Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, July 19th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. Manhattan Associates had a net margin of 19.56% and a return on equity of 62.72%. The firm earned $154.90 million during the quarter, compared to analysts’ expectations of $153.75 million. During the same quarter last year, the company posted $0.37 earnings per share. Analysts forecast that Manhattan Associates will post $1.79 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Manhattan Associates during the fourth quarter worth $48,965,000. Cue Financial Group Inc. boosted its stake in Manhattan Associates by 24.1% in the first quarter. Cue Financial Group Inc. now owns 14,415 shares of the company’s stock worth $820,000 after buying an additional 2,795 shares in the last quarter. Boston Advisors LLC boosted its stake in Manhattan Associates by 43.4% in the first quarter. Boston Advisors LLC now owns 17,211 shares of the company’s stock worth $979,000 after buying an additional 5,205 shares in the last quarter. Douglas Lane & Associates LLC bought a new stake in Manhattan Associates during the first quarter worth approximately $20,570,000. Finally, Moody Aldrich Partners LLC bought a new stake in Manhattan Associates during the first quarter worth approximately $502,000. 98.13% of the stock is owned by institutional investors.
Manhattan Associates Company Profile
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company has three geographical segments: the Americas, Europe, Middle East and Africa (EMEA), and the Asia Pacific (APAC). It is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.
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