ManTech International Corp. (MANT) Rating Lowered to Hold at Zacks Investment Research
ManTech International Corp. (NASDAQ:MANT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
A number of other equities analysts also recently commented on the stock. Wells Fargo & Co. downgraded shares of ManTech International Corp. from a “market perform” rating to an “underperform” rating in a research note on Tuesday, August 30th. Credit Suisse Group AG cut shares of ManTech International Corp. from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $37.00 to $36.00 in a report on Thursday, September 29th. They noted that the move was a valuation call. Finally, Drexel Hamilton assumed coverage on shares of ManTech International Corp. in a report on Wednesday, November 16th. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. ManTech International Corp. presently has an average rating of “Hold” and an average price target of $39.00.
Shares of ManTech International Corp. (NASDAQ:MANT) opened at 44.83 on Wednesday. The company’s 50-day moving average price is $40.36 and its 200-day moving average price is $38.80. ManTech International Corp. has a 52-week low of $25.76 and a 52-week high of $45.00. The firm has a market capitalization of $1.73 billion, a P/E ratio of 30.17 and a beta of 1.39.
ManTech International Corp. (NASDAQ:MANT) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.03. ManTech International Corp. had a net margin of 3.51% and a return on equity of 4.70%. The company earned $415.40 million during the quarter, compared to the consensus estimate of $405.80 million. During the same period in the prior year, the business posted $0.35 EPS. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, 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. Shareholders of record on Friday, December 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. ManTech International Corp.’s dividend payout ratio is currently 28.19%.
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In other ManTech International Corp. news, insider Daniel J. Keefe sold 12,500 shares of the 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 transaction, the insider now directly owns 12,500 shares of the company’s stock, valued at approximately $533,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Judith L. Bjornaas sold 10,000 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $42.98, for a total transaction of $429,800.00. Following the completion of the transaction, the insider now directly owns 12,000 shares in the company, valued at $515,760. The disclosure for this sale can be found here. 22.28% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its position in ManTech International Corp. by 0.4% in the third quarter. American International Group Inc. now owns 18,436 shares of the company’s stock valued at $695,000 after buying an additional 75 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in ManTech International Corp. by 0.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,580 shares of the company’s stock valued at $361,000 after buying an additional 90 shares in the last quarter. 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 valued at $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 valued at $118,000 after buying an additional 118 shares in the last quarter. Finally, Profund Advisors LLC boosted its position in ManTech International Corp. by 1.9% in the second quarter. Profund Advisors LLC now owns 7,698 shares of the company’s stock valued at $291,000 after buying an additional 146 shares in the last quarter. 63.28% of the stock is currently owned by hedge funds and other institutional investors.
ManTech International Corp. Company Profile
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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