Cowen Reiterates “Buy” Rating for Mantech International (MANT)

Cowen restated their buy rating on shares of Mantech International (NASDAQ:MANT) in a research report report published on Thursday. Cowen currently has a $54.00 price target on the technology company’s stock.

A number of other brokerages have also recently commented on MANT. Wells Fargo & Company raised their target price on Mantech International from $42.00 to $44.00 and gave the stock an underperform rating in a report on Wednesday, October 25th. Jefferies Group reaffirmed a sell rating on shares of Mantech International in a report on Friday, August 18th. Zacks Investment Research cut Mantech International from a buy rating to a hold rating in a report on Wednesday, September 6th. BidaskClub raised Mantech International from a sell rating to a hold rating in a report on Thursday, August 3rd. Finally, Maxim Group raised their price target on Mantech International from $47.00 to $53.00 and gave the company a buy rating in a report on Thursday, November 2nd. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $45.57.

Shares of Mantech International (MANT) traded down $0.07 during trading on Thursday, reaching $50.91. The company had a trading volume of 267,500 shares, compared to its average volume of 156,745. Mantech International has a one year low of $33.50 and a one year high of $51.86. The company has a market cap of $1,985.13, a PE ratio of 33.28, a P/E/G ratio of 4.08 and a beta of 0.97.

Mantech International (NASDAQ:MANT) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. Mantech International had a return on equity of 4.73% and a net margin of 3.61%. The company had revenue of $422.70 million for the quarter, compared to analysts’ expectations of $427.44 million. During the same period last year, the firm earned $0.38 EPS. Mantech International’s revenue for the quarter was up 1.8% compared to the same quarter last year. research analysts anticipate that Mantech International will post 1.56 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.84 dividend on an annualized basis and a yield of 1.65%. Mantech International’s dividend payout ratio is presently 27.45%.

In other news, insider Judith L. Bjornaas sold 7,500 shares of Mantech International stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $50.79, for a total value of $380,925.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Walter R. Fatzinger, Jr. sold 2,000 shares of Mantech International stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $40.52, for a total value of $81,040.00. Following the completion of the sale, the director now directly owns 21,000 shares in the company, valued at $850,920. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,020 shares of company stock worth $4,323,186. Insiders own 35.06% of the company’s stock.

Several hedge funds have recently modified their holdings of MANT. ETF Managers Group LLC bought a new stake in shares of Mantech International in the second quarter worth about $18,694,000. BlackRock Inc. increased its holdings in shares of Mantech International by 6.8% in the second quarter. BlackRock Inc. now owns 3,964,424 shares of the technology company’s stock worth $164,049,000 after purchasing an additional 252,770 shares during the last quarter. Heartland Advisors Inc. bought a new stake in shares of Mantech International in the second quarter worth about $7,889,000. Northern Trust Corp increased its holdings in shares of Mantech International by 31.5% in the second quarter. Northern Trust Corp now owns 732,890 shares of the technology company’s stock worth $30,327,000 after purchasing an additional 175,453 shares during the last quarter. Finally, Chartwell Investment Partners LLC increased its holdings in shares of Mantech International by 38.7% in the third quarter. Chartwell Investment Partners LLC now owns 471,340 shares of the technology company’s stock worth $20,809,000 after purchasing an additional 131,495 shares during the last quarter. 63.26% of the stock is currently owned by hedge funds and other institutional investors.

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Mantech International Company Profile

ManTech International Corporation provides technologies and solutions for national security programs for the intelligence community; the departments of Defense, State, Homeland Security, Health and Human Services, Veteran Affairs and Justice, including the Federal Bureau of Investigation (FBI); the space community, and other the United States Government customers.

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