Zacks Investment Research downgraded shares of Manhattan Associates (NASDAQ:MANH) from a buy rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Manhattan Associates, Inc., is the global leader in providing supply chain execution and optimization solutions. It enables operational excellence through its warehouse, transportation, distributed order management, reverse logistics and trading partner management solutions, as well as its RFID, performance management and event management capabilities. These Integrated Logistics Solutions(TM) leverage state-of-the-art technologies, innovative practices and domain expertise to enhance performance, profitability and competitive advantage. Manhattan Associates has licensed more than 900 customers representing more than 1,600 facilities worldwide, which include some of the world’s leading manufacturers, distributors and retailers. “
Several other analysts also recently issued reports on the company. BidaskClub downgraded Manhattan Associates from a hold rating to a sell rating in a research note on Tuesday, October 9th. SunTrust Banks decreased their price target on Manhattan Associates to $50.00 and set a neutral rating for the company in a research note on Wednesday, October 24th. Benchmark decreased their price target on Manhattan Associates to $60.00 and set a buy rating for the company in a research note on Wednesday, October 24th. TheStreet downgraded Manhattan Associates from a b- rating to a c rating in a research note on Thursday, December 27th. Finally, ValuEngine downgraded Manhattan Associates from a buy rating to a hold rating in a research note on Friday, January 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Manhattan Associates has an average rating of Buy and a consensus target price of $54.67.
Shares of MANH stock opened at $52.27 on Tuesday. Manhattan Associates has a fifty-two week low of $39.01 and a fifty-two week high of $62.39. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 30.39 and a beta of 1.50.
Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, February 5th. The software maker reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.09. Manhattan Associates had a return on equity of 71.67% and a net margin of 18.48%. The company had revenue of $144.37 million for the quarter, compared to analyst estimates of $139.19 million. During the same period in the prior year, the firm posted $0.45 EPS. The business’s revenue was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Manhattan Associates will post 1.48 earnings per share for the current year.
A number of large investors have recently made changes to their positions in MANH. FMR LLC acquired a new stake in shares of Manhattan Associates in the second quarter valued at about $686,000. Renaissance Technologies LLC acquired a new stake in shares of Manhattan Associates in the second quarter valued at about $7,919,000. Macquarie Group Ltd. raised its position in shares of Manhattan Associates by 366.7% in the second quarter. Macquarie Group Ltd. now owns 2,800 shares of the software maker’s stock valued at $132,000 after buying an additional 2,200 shares during the last quarter. Millennium Management LLC raised its position in shares of Manhattan Associates by 142.5% in the second quarter. Millennium Management LLC now owns 17,485 shares of the software maker’s stock valued at $822,000 after buying an additional 10,274 shares during the last quarter. Finally, Denali Advisors LLC raised its position in shares of Manhattan Associates by 704.9% in the third quarter. Denali Advisors LLC now owns 66,000 shares of the software maker’s stock valued at $3,604,000 after buying an additional 57,800 shares during the last quarter.
About Manhattan Associates
Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company provides supply chain solutions, including distribution management, transportation management, and visibility solutions; omni-channel solutions; and inventory optimization and planning solutions.
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