BidaskClub Downgrades Manhattan Associates, Inc. (MANH) to Strong Sell
Manhattan Associates, Inc. (NASDAQ:MANH) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday.
Several other analysts have also recently commented on MANH. Zacks Investment Research cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. SunTrust Banks, Inc. began coverage on shares of Manhattan Associates in a research note on Monday, June 26th. They issued a “hold” rating and a $45.00 target price for the company. Finally, Benchmark Co. cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $59.50.
Manhattan Associates (MANH) traded down 0.631% during midday trading on Wednesday, hitting $43.295. The stock had a trading volume of 7,915 shares. Manhattan Associates has a 12-month low of $42.50 and a 12-month high of $62.14. The firm has a market cap of $2.98 billion, a P/E ratio of 25.012 and a beta of 1.15. The stock has a 50-day moving average price of $46.25 and a 200 day moving average price of $48.12.
Manhattan Associates (NASDAQ:MANH) last released its earnings results on Thursday, July 20th. The software maker reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The firm had revenue of $154.10 million during the quarter, compared to analysts’ expectations of $153.80 million. Manhattan Associates had a net margin of 20.55% and a return on equity of 75.58%. Manhattan Associates’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. On average, equities analysts anticipate that Manhattan Associates will post $1.87 earnings per share for the current fiscal year.
Manhattan Associates announced that its board has approved a stock buyback program on Thursday, April 20th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the software maker to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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Hedge funds have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted 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 in the last quarter. Lloyds Banking Group plc bought a new stake in shares of Manhattan Associates during the first quarter valued at about $126,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Manhattan Associates by 41.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,493 shares of the software maker’s stock valued at $120,000 after buying an additional 726 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Manhattan Associates by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,554 shares of the software maker’s stock valued at $123,000 after buying an additional 271 shares in the last quarter. Finally, TrimTabs Asset Management LLC boosted its stake in shares of Manhattan Associates by 105.3% in the second quarter. TrimTabs Asset Management LLC now owns 3,761 shares of the software maker’s stock valued at $181,000 after buying an additional 1,929 shares in the last quarter.
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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