Manhattan Associates, Inc. (NASDAQ:MANH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.
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. “
Several other equities research analysts have also recently commented on the company. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Manhattan Associates in a research note on Monday, January 9th. Brean Capital reissued a “buy” rating and issued a $75.00 target price on shares of Manhattan Associates in a research note on Thursday, October 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $67.75.
Shares of Manhattan Associates (NASDAQ:MANH) opened at 50.43 on Thursday. The company has a 50-day moving average price of $53.14 and a 200 day moving average price of $57.12. The stock has a market capitalization of $3.59 billion, a P/E ratio of 30.40 and a beta of 1.15. Manhattan Associates has a 52 week low of $44.14 and a 52 week high of $68.57.
Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 18th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.04. The company earned $152.21 million during the quarter, compared to analysts’ expectations of $156.15 million. Manhattan Associates had a return on equity of 66.06% and a net margin of 20.17%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. Analysts forecast that Manhattan Associates will post $1.84 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the company. Atlanta Capital Management Co. L L C boosted its stake in shares of Manhattan Associates by 1.5% in the second quarter. Atlanta Capital Management Co. L L C now owns 4,259,479 shares of the company’s stock worth $273,160,000 after buying an additional 62,671 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Manhattan Associates by 6.5% in the second quarter. Neuberger Berman Group LLC now owns 3,872,121 shares of the company’s stock worth $248,319,000 after buying an additional 237,415 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Manhattan Associates by 2.7% in the third quarter. BlackRock Fund Advisors now owns 2,808,777 shares of the company’s stock worth $161,842,000 after buying an additional 73,890 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Manhattan Associates by 2.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,560,172 shares of the company’s stock worth $147,517,000 after buying an additional 58,325 shares during the period. Finally, American Capital Management Inc. bought a new stake in shares of Manhattan Associates during the third quarter worth approximately $76,342,000. 99.68% of the stock is owned by institutional investors and hedge funds.
About Manhattan Associates
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.
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