ManTech International Corporation (MANT) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of ManTech International Corporation (NASDAQ:MANT) from a buy rating to a hold rating in a research note published on Friday. Zacks Investment Research currently has $49.00 price objective on the technology company’s stock.
According to Zacks, “ManTech International Corporation provides technologies and solutions for national security programs for the intelligence community; the departments of Defense, State, Homeland Security, Health and Human Services, Veteran Affairs and Justice, including the Federal Bureau of Investigation (FBI); the space community, and other the United States Government customers. It delivers an array of information technology (IT) and technical services solutions. Its solutions and services include cybersecurity; software and systems development; enterprise IT; multi-disciplined intelligence; command, control, communications, computers, intelligence, surveillance and reconnaissance; program protection and mission assurance; systems engineering; supply chain management and logistics; test and evaluation; training, and management consulting. It supports programs of national significance, such as military readiness and wellness, terrorist threat detection, information security and border protection. “
A number of other research firms also recently commented on MANT. Maxim Group restated a buy rating and issued a $47.00 target price (up previously from $44.00) on shares of ManTech International Corporation in a research report on Wednesday, September 20th. Cowen and Company reiterated a buy rating and set a $45.00 price target on shares of ManTech International Corporation in a report on Monday, August 21st. Jefferies Group LLC reiterated a sell rating on shares of ManTech International Corporation in a report on Friday, August 18th. BidaskClub downgraded ManTech International Corporation from a hold rating to a sell rating in a research report on Friday, August 11th. Finally, Noble Financial reissued a hold rating on shares of ManTech International Corporation in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. ManTech International Corporation presently has a consensus rating of Hold and a consensus price target of $41.83.
ManTech International Corporation (NASDAQ MANT) opened at 44.15 on Friday. The firm’s 50 day moving average price is $39.78 and its 200 day moving average price is $38.23. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 29.10 and a beta of 0.94. ManTech International Corporation has a 12 month low of $33.50 and a 12 month high of $45.52.
ManTech International Corporation (NASDAQ:MANT) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. The company had revenue of $413.70 million during the quarter, compared to analyst estimates of $418.60 million. ManTech International Corporation had a return on equity of 4.73% and a net margin of 3.59%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. On average, equities research analysts predict that ManTech International Corporation will post $1.52 EPS for the current fiscal year.
The company also recently declared a Semi-Annual dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, September 7th. This represents a dividend yield of 2.01%. ManTech International Corporation’s dividend payout ratio is currently 27.63%.
In related news, Director Mary K. Bush sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $40.39, for a total transaction of $100,975.00. Following the completion of the transaction, the director now directly owns 8,540 shares in the company, valued at approximately $344,930.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Kevin M. Phillips sold 24,020 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $41.03, for a total value of $985,540.60. Following the transaction, the chief operating officer now owns 47,656 shares of the company’s stock, valued at $1,955,325.68. The disclosure for this sale can be found here. Insiders sold a total of 28,520 shares of company stock worth $1,167,556 in the last quarter. Company insiders own 22.28% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in ManTech International Corporation by 187,452.0% during the first quarter. BlackRock Inc. now owns 3,711,654 shares of the technology company’s stock worth $128,534,000 after purchasing an additional 3,709,675 shares during the period. ETF Managers Group LLC acquired a new stake in shares of ManTech International Corporation during the second quarter worth about $18,694,000. Wellington Management Group LLP acquired a new stake in shares of ManTech International Corporation during the first quarter worth about $8,213,000. Vanguard Group Inc. lifted its position in shares of ManTech International Corporation by 9.5% during the first quarter. Vanguard Group Inc. now owns 2,707,606 shares of the technology company’s stock worth $93,765,000 after purchasing an additional 234,114 shares in the last quarter. Finally, Heartland Advisors Inc. acquired a new stake in shares of ManTech International Corporation during the second quarter worth about $7,889,000. 61.87% of the stock is owned by institutional investors.
About ManTech International Corporation
ManTech International Corporation provides technologies and solutions for national security programs for the intelligence community; the departments of Defense, State, Homeland Security, Health and Human Services, Veteran Affairs and Justice, including the Federal Bureau of Investigation (FBI); the space community, and other the United States Government customers.
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