Mantech International (MANT) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Mantech International (NASDAQ:MANT) from a strong-buy rating to a hold rating in a research note published on Wednesday.
According to Zacks, “ManTech International Corporation is a leading provider of innovative technologies and solutions for mission-critical national security programs for the Intelligence Community; the Departments of Defense, State, Homeland Security, and Justice; the Space Community; and other U.S. federal government customers. ManTech’s expertise includes systems engineering, systems integration, technology and software development, enterprise security architecture, information assurance, intelligence operations support, network and critical infrastructure protection, information technology, communications integration and engineering support. The company supports the advanced telecommunications systems that are used in Operation Iraqi Freedom and in other parts of the world; provides the physical and cyber security to protect U.S. embassies all over the world; has developed a secure, collaborative communications system for the U.S. Department of Homeland Security; and builds and maintains secure databases. “
Several other analysts also recently commented on the stock. Loop Capital increased their price objective on shares of Mantech International to $57.00 in a research report on Tuesday, December 19th. Cowen reissued a buy rating and set a $54.00 price objective on shares of Mantech International in a research report on Thursday, November 30th. Maxim Group increased their price objective on shares of Mantech International from $47.00 to $53.00 and gave the company a buy rating in a research report on Thursday, November 2nd. Finally, Wells Fargo & Co increased their price objective on shares of Mantech International from $42.00 to $44.00 and gave the company an underperform rating in a research report on Wednesday, October 25th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Mantech International has an average rating of Hold and a consensus price target of $46.57.
Mantech International (NASDAQ:MANT) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Mantech International had a net margin of 3.61% and a return on equity of 4.73%. The company had revenue of $422.70 million for the quarter, compared to the consensus estimate of $427.44 million. During the same period in the prior year, the firm posted $0.38 EPS. Mantech International’s revenue for the quarter was up 1.8% on a year-over-year basis. analysts forecast that Mantech International will post 1.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, December 7th. Mantech International’s payout ratio is presently 27.45%.
In other news, Director Mary K. Bush sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $50.45, for a total transaction of $50,450.00. Following the sale, the director now owns 7,540 shares of the company’s stock, valued at approximately $380,393. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Keefe sold 6,500 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $49.85, for a total transaction of $324,025.00. Following the sale, the insider now directly owns 6,500 shares in the company, valued at approximately $324,025. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,500 shares of company stock worth $3,206,080. Insiders own 22.28% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. TIAA CREF Investment Management LLC lifted its stake in shares of Mantech International by 27.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 85,102 shares of the technology company’s stock worth $3,522,000 after purchasing an additional 18,326 shares during the period. BlackRock Inc. lifted its stake in shares of Mantech International by 6.8% in the 2nd quarter. BlackRock Inc. now owns 3,964,424 shares of the technology company’s stock worth $164,049,000 after purchasing an additional 252,770 shares during the period. AXA lifted its stake in shares of Mantech International by 11.0% in the 3rd quarter. AXA now owns 124,800 shares of the technology company’s stock worth $5,510,000 after purchasing an additional 12,326 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Mantech International by 0.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 431,619 shares of the technology company’s stock worth $19,058,000 after purchasing an additional 3,408 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Mantech International in the 2nd quarter worth approximately $1,159,000. 63.24% of the stock is currently owned by hedge funds and other institutional investors.
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About Mantech International
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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