Manhattan Associates, Inc. (MANH) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Manhattan Associates, Inc. (NASDAQ:MANH) from a sell rating to a hold rating in a report issued on Saturday.
According to Zacks, “Manhattan Associates, Inc., is the global leader in providing supply chain execution and optimization solutions. It enables operational excellence through its warehouse, transportation, distributed order management, reverse logistics and trading partner management solutions, as well as its RFID, performance management and event management capabilities. These Integrated Logistics Solutions(TM) leverage state-of-the-art technologies, innovative practices and domain expertise to enhance performance, profitability and competitive advantage. Manhattan Associates has licensed more than 900 customers representing more than 1,600 facilities worldwide, which include some of the world’s leading manufacturers, distributors and retailers. “
Other equities research analysts have also recently issued research reports about the stock. KeyCorp reissued a hold rating on shares of Manhattan Associates in a research note on Tuesday, October 17th. BidaskClub cut shares of Manhattan Associates from a sell rating to a strong sell rating in a research note on Wednesday, August 9th. Finally, SunTrust Banks, Inc. raised shares of Manhattan Associates from a hold rating to a buy rating and set a $55.00 target price on the stock in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Manhattan Associates currently has an average rating of Hold and a consensus price target of $65.00.
Manhattan Associates (MANH) traded up $0.54 during trading on Friday, reaching $42.42. 324,141 shares of the company were exchanged, compared to its average volume of 846,539. Manhattan Associates has a 1 year low of $40.75 and a 1 year high of $55.74. The firm has a market cap of $2,924.14, a PE ratio of 23.97 and a beta of 1.15.
Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 24th. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Manhattan Associates had a net margin of 20.38% and a return on equity of 74.19%. The firm had revenue of $152.88 million for the quarter, compared to analysts’ expectations of $150.30 million. During the same quarter last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. sell-side analysts anticipate that Manhattan Associates will post 1.75 EPS for the current fiscal year.
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In other Manhattan Associates news, CEO Eddie Capel sold 23,000 shares of Manhattan Associates stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $42.04, for a total transaction of $966,920.00. Following the sale, the chief executive officer now owns 180,057 shares of the company’s stock, valued at approximately $7,569,596.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.01% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Manhattan Associates by 41.1% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,493 shares of the software maker’s stock worth $120,000 after acquiring an additional 726 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Manhattan Associates by 11.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,554 shares of the software maker’s stock worth $123,000 after acquiring an additional 271 shares during the period. Zions Bancorporation purchased a new position in shares of Manhattan Associates during the 3rd quarter worth $128,000. Victory Capital Management Inc. purchased a new position in shares of Manhattan Associates during the 3rd quarter worth $168,000. Finally, TrimTabs Asset Management LLC raised its holdings in shares of Manhattan Associates by 105.3% during the 2nd quarter. TrimTabs Asset Management LLC now owns 3,761 shares of the software maker’s stock worth $181,000 after acquiring an additional 1,929 shares during the period.
Manhattan Associates Company Profile
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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