Wells Fargo & Co Downgrades Mantech International (NASDAQ:MANT) to Market Perform

Mantech International (NASDAQ:MANT) was downgraded by Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research report issued on Thursday, Marketbeat.com reports.

Several other brokerages also recently weighed in on MANT. Morgan Stanley assumed coverage on shares of Mantech International in a research note on Monday, June 3rd. They issued an “equal weight” rating and a $65.00 target price for the company. Zacks Investment Research downgraded shares of Mantech International from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. ValuEngine raised shares of Mantech International from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, BidaskClub raised shares of Mantech International from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Mantech International presently has a consensus rating of “Buy” and an average price target of $69.50.

MANT stock traded down $2.63 during trading on Thursday, hitting $69.11. The stock had a trading volume of 121,620 shares, compared to its average volume of 93,106. The company has a 50 day moving average price of $66.23. Mantech International has a 1-year low of $48.25 and a 1-year high of $71.90. The company has a market capitalization of $2.74 billion, a PE ratio of 33.55, a price-to-earnings-growth ratio of 3.78 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.02 and a current ratio of 2.02.

Mantech International (NASDAQ:MANT) last announced its earnings results on Wednesday, July 31st. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Mantech International had a net margin of 4.30% and a return on equity of 6.24%. The firm had revenue of $537.00 million during the quarter, compared to the consensus estimate of $551.29 million. During the same quarter in the previous year, the company posted $0.50 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts predict that Mantech International will post 2.31 earnings per share for the current year.

In other news, CFO Judith L. Bjornaas sold 12,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $62.90, for a total transaction of $754,800.00. Following the completion of the transaction, the chief financial officer now owns 22,000 shares of the company’s stock, valued at approximately $1,383,800. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard L. Armitage sold 4,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $62.27, for a total transaction of $249,080.00. Following the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $249,080. The disclosure for this sale can be found here. Corporate insiders own 33.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its position in Mantech International by 1.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,157,978 shares of the technology company’s stock worth $62,554,000 after purchasing an additional 20,473 shares in the last quarter. OppenheimerFunds Inc. increased its position in Mantech International by 9.4% during the 1st quarter. OppenheimerFunds Inc. now owns 751,664 shares of the technology company’s stock worth $40,605,000 after purchasing an additional 64,530 shares in the last quarter. Norges Bank acquired a new stake in Mantech International during the 4th quarter worth approximately $23,047,000. Geode Capital Management LLC increased its position in Mantech International by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 311,857 shares of the technology company’s stock worth $16,308,000 after purchasing an additional 4,829 shares in the last quarter. Finally, ETF Managers Group LLC increased its position in Mantech International by 5.8% during the 1st quarter. ETF Managers Group LLC now owns 220,469 shares of the technology company’s stock worth $11,910,000 after purchasing an additional 12,040 shares in the last quarter. 63.64% of the stock is owned by hedge funds and other institutional investors.

Mantech International Company Profile

ManTech International Corporation provides technology solutions and services for U.S. defense, intelligence community, and federal civilian agencies worldwide. The company offers cyber solutions and services, including security operations, threat intelligence, incident response and forensics, boundary defense, security systems engineering, infrastructure security, and computer forensics and exploitation.

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Analyst Recommendations for Mantech International (NASDAQ:MANT)

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