Manhattan Associates, Inc. (MANH) Downgraded by BidaskClub to Sell
BidaskClub downgraded shares of Manhattan Associates, Inc. (NASDAQ:MANH) from a hold rating to a sell rating in a research report sent to investors on Tuesday.
MANH has been the subject of a number of other research reports. Zacks Investment Research upgraded Manhattan Associates from a hold rating to a buy rating and set a $53.00 price objective for the company in a research report on Friday, May 26th. SunTrust Banks, Inc. assumed coverage on Manhattan Associates in a research report on Monday, June 26th. They issued a hold rating and a $45.00 price target for the company. Finally, Benchmark Co. lowered Manhattan Associates from a buy rating to a hold rating in a research report on Friday, April 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Manhattan Associates has a consensus rating of Hold and an average price target of $59.50.
Manhattan Associates (MANH) traded up 1.12% during trading on Tuesday, reaching $45.01. The company had a trading volume of 712,199 shares. The firm’s 50-day moving average price is $46.66 and its 200 day moving average price is $48.33. Manhattan Associates has a one year low of $42.50 and a one year high of $62.14. The firm has a market capitalization of $3.10 billion, a P/E ratio of 26.00 and a beta of 1.18.
Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Thursday, July 20th. The software maker reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.02. The firm had revenue of $154.10 million during the quarter, compared to analyst estimates of $153.80 million. Manhattan Associates had a return on equity of 75.58% and a net margin of 20.55%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. Equities analysts forecast that Manhattan Associates will post $1.87 earnings per share for the current fiscal year.
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Manhattan Associates declared that its board has approved a stock buyback program on Thursday, April 20th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the software maker to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
A number of hedge funds have recently made changes to their positions in MANH. Acrospire Investment Management LLC increased its stake in shares of Manhattan Associates by 20.9% in the first quarter. Acrospire Investment Management LLC now owns 2,177 shares of the software maker’s stock valued at $113,000 after buying an additional 377 shares during the last quarter. Lloyds Banking Group plc purchased a new stake in shares of Manhattan Associates during the first quarter valued at about $126,000. Pennsylvania Trust Co purchased a new stake in shares of Manhattan Associates during the first quarter valued at about $220,000. Investment Centers of America Inc. purchased a new stake in shares of Manhattan Associates during the first quarter valued at about $222,000. Finally, M&T Bank Corp purchased a new stake in shares of Manhattan Associates during the first quarter valued at about $225,000.
About Manhattan Associates
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company operates through 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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