Mantech International Corp (NASDAQ:MANT) was downgraded by analysts at Credit Suisse Group AG from a “neutral” rating to an “underperform” rating in a research note issued to investors on Thursday. They currently have a $36.00 price target on the stock, down from their prior price target of $37.00. Credit Suisse Group AG’s price objective would suggest a potential downside of 4.48% from the stock’s current price. The analysts noted that the move was a valuation call.
Several other analysts have also commented on MANT. Zacks Investment Research lowered shares of Mantech International Corp from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Jefferies Group restated a “sell” rating and issued a $26.00 price objective on shares of Mantech International Corp in a report on Thursday, July 28th. Finally, Wells Fargo & Co. lowered shares of Mantech International Corp from a “market perform” rating to an “underperform” rating in a report on Tuesday, August 30th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $36.25.
Mantech International Corp (NASDAQ:MANT) opened at 37.69 on Thursday. The company has a 50-day moving average price of $40.05 and a 200 day moving average price of $36.52. Mantech International Corp has a 1-year low of $25.49 and a 1-year high of $41.69. The stock has a market cap of $1.44 billion, a P/E ratio of 25.94 and a beta of 1.38.
Mantech International Corp (NASDAQ:MANT) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.04. Mantech International Corp had a net margin of 3.46% and a return on equity of 4.62%. The business earned $401.35 million during the quarter, compared to analyst estimates of $402.12 million. During the same period last year, the business posted $0.33 earnings per share. Mantech International Corp’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts expect that Mantech International Corp will post $1.46 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Wednesday, September 7th. Mantech International Corp’s dividend payout ratio is 28.77%.
In related news, insider Daniel J. Keefe sold 37,500 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $39.36, for a total transaction of $1,476,000.00. Following the completion of the sale, the insider now owns 12,500 shares of the company’s stock, valued at $492,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin M. Phillips sold 13,949 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $41.14, for a total transaction of $573,861.86. Following the sale, the insider now directly owns 31,605 shares of the company’s stock, valued at approximately $1,300,229.70. The disclosure for this sale can be found here. Company insiders own 22.28% of the company’s stock.
Several large investors have recently made changes to their positions in MANT. Norges Bank purchased a new stake in shares of Mantech International Corp during the fourth quarter valued at $9,704,000. Aperio Group LLC increased its stake in shares of Mantech International Corp by 4.5% in the first quarter. Aperio Group LLC now owns 9,478 shares of the company’s stock valued at $303,000 after buying an additional 407 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Mantech International Corp by 1.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 8,780 shares of the company’s stock valued at $281,000 after buying an additional 125 shares during the period. Prudential Financial Inc. increased its stake in shares of Mantech International Corp by 38.2% in the first quarter. Prudential Financial Inc. now owns 77,754 shares of the company’s stock valued at $2,487,000 after buying an additional 21,500 shares during the period. Finally, BlackRock Group LTD increased its stake in shares of Mantech International Corp by 4.9% in the first quarter. BlackRock Group LTD now owns 39,899 shares of the company’s stock valued at $1,277,000 after buying an additional 1,857 shares during the period. 61.70% of the stock is owned by institutional investors.
About Mantech International Corp
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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