Manhattan Associates Inc. (NASDAQ:MANH) 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, “Manhattan Associates is a leading provider of technology-based solutions to improve supply chain effectiveness and efficiencies. The company’s solutions enhance distribution efficiencies through the integration of supply chain constituents, including manufacturers, distributors, retailers, suppliers, transportation providers and end consumers. Their solutions consist of software; services, including design, configuration, implementation, and training services, plus customer support and software upgrades; and hardware. “
MANH has been the topic of a number of other reports. Brean Capital reaffirmed a “buy” rating and set a $75.00 price target on shares of Manhattan Associates in a research report on Wednesday, July 20th. Raymond James Financial Inc. reaffirmed an “outperform” rating and set a $74.00 price target (down from $75.00) on shares of Manhattan Associates in a research report on Friday, July 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $72.17.
Manhattan Associates (NASDAQ:MANH) opened at 58.00 on Wednesday. The stock has a market capitalization of $4.15 billion, a P/E ratio of 36.71 and a beta of 1.30. Manhattan Associates has a 12 month low of $44.14 and a 12 month high of $77.75. The firm’s 50-day moving average is $59.55 and its 200 day moving average is $60.79.
Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The firm had revenue of $154.90 million for the quarter, compared to analysts’ expectations of $153.75 million. Manhattan Associates had a net margin of 19.56% and a return on equity of 62.72%. During the same period in the previous year, the company posted $0.37 earnings per share. On average, equities analysts anticipate that Manhattan Associates will post $1.79 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Johnson Financial Group Inc. boosted its position in Manhattan Associates by 139.9% in the second quarter. Johnson Financial Group Inc. now owns 2,317 shares of the company’s stock worth $149,000 after buying an additional 1,351 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in Manhattan Associates during the second quarter worth approximately $160,000. Capital Analysts LLC purchased a new position in Manhattan Associates during the second quarter worth approximately $171,000. Janney Montgomery Scott LLC purchased a new position in Manhattan Associates during the second quarter worth approximately $201,000. Finally, First Allied Advisory Services Inc. purchased a new position in Manhattan Associates during the second quarter worth approximately $201,000. 97.82% of the stock is currently owned by institutional investors and hedge funds.
Manhattan Associates Company Profile
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company has 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Manhattan Associates Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manhattan Associates Inc. and related companies with MarketBeat.com's FREE daily email newsletter.