ManTech International Corp. (MANT) Rating Increased to Buy at Zacks Investment Research
ManTech International Corp. (NASDAQ:MANT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $50.00 target price on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.33% from the stock’s current price.
According to Zacks, “ManTech International Corporation delivers a broad array of information technology and technical services solutions to U.S. federal government customers, focusing primarily on critical national defense programs for the intelligence community and Department of Defense. They design, develop, procure, implement, operate, test and maintain mission-critical, enterprise information technology and communication systems and infrastructures for federal government customers in the United States and worldwide. “
MANT has been the topic of several other research reports. Wells Fargo & Co. cut ManTech International Corp. from a “market perform” rating to an “underperform” rating in a research report on Tuesday, August 30th. Credit Suisse Group AG cut ManTech International Corp. from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $37.00 to $36.00 in a research report on Thursday, September 29th. They noted that the move was a valuation call. Finally, Drexel Hamilton initiated coverage on ManTech International Corp. in a research report on Wednesday, November 16th. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. ManTech International Corp. currently has a consensus rating of “Hold” and an average target price of $39.00.
ManTech International Corp. (NASDAQ:MANT) opened at 44.50 on Tuesday. The firm has a market cap of $1.72 billion, a P/E ratio of 29.95 and a beta of 1.39. ManTech International Corp. has a 12 month low of $25.76 and a 12 month high of $45.00. The company’s 50-day moving average is $40.36 and its 200 day moving average is $38.80.
ManTech International Corp. (NASDAQ:MANT) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. ManTech International Corp. had a return on equity of 4.70% and a net margin of 3.51%. The business earned $415.40 million during the quarter, compared to the consensus estimate of $405.80 million. During the same quarter last year, the firm posted $0.35 EPS. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts expect that ManTech International Corp. will post $1.47 EPS for the current fiscal year.
The business also recently declared a dividend, which will be paid on Friday, December 23rd. Investors of record on Friday, December 9th will be given a $0.21 dividend. The ex-dividend date is Wednesday, December 7th. ManTech International Corp.’s payout ratio is currently 28.19%.
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In other ManTech International Corp. news, insider Judith L. Bjornaas sold 10,000 shares of ManTech International Corp. stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $42.98, for a total value of $429,800.00. Following the transaction, the insider now owns 12,000 shares in the company, valued at $515,760. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Keefe sold 12,500 shares of ManTech International Corp. stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $42.66, for a total value of $533,250.00. Following the completion of the transaction, the insider now owns 12,500 shares in the company, valued at approximately $533,250. The disclosure for this sale can be found here. 22.28% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC boosted its position in ManTech International Corp. by 3.8% in the second quarter. Acrospire Investment Management LLC now owns 2,700 shares of the company’s stock worth $102,000 after buying an additional 100 shares in the last quarter. PineBridge Investments L.P. boosted its position in ManTech International Corp. by 3.9% in the second quarter. PineBridge Investments L.P. now owns 3,110 shares of the company’s stock worth $118,000 after buying an additional 118 shares in the last quarter. Teacher Retirement System of Texas boosted its position in ManTech International Corp. by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 3,406 shares of the company’s stock worth $129,000 after buying an additional 419 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in ManTech International Corp. during the second quarter worth about $131,000. Finally, Mason Street Advisors LLC acquired a new position in ManTech International Corp. during the second quarter worth about $181,000. Hedge funds and other institutional investors own 63.28% of the company’s stock.
About ManTech International Corp.
ManTech International Corporation is a provider of technologies and solutions for national security programs for the intelligence community; the departments of Defense, State, Homeland Security, Health and Human Services, Veterans Affairs and Justice, including the Federal Bureau of Investigation (FBI); the space community, and other United States Government customers.
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