SunTrust Banks Raises Mantech International (NASDAQ:MANT) Price Target to $77.00

Mantech International (NASDAQ:MANT) had its price target raised by SunTrust Banks to $77.00 in a report issued on Thursday, The Fly reports. The firm currently has a positive rating on the technology company’s stock.

Several other research firms have also recently issued reports on MANT. ValuEngine raised Mantech International from a hold rating to a buy rating in a research report on Wednesday, May 1st. Zacks Investment Research cut Mantech International from a buy rating to a hold rating in a research report on Thursday, July 4th. BidaskClub raised Mantech International from a buy rating to a strong-buy rating in a research report on Monday, May 6th. Morgan Stanley started coverage on Mantech International in a research report on Monday, June 3rd. They set an equal weight rating and a $65.00 price objective for the company. Finally, Wells Fargo & Co cut Mantech International from an outperform rating to a market perform rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $69.50.

NASDAQ MANT traded down $2.08 during trading hours on Thursday, hitting $67.03. 1,207 shares of the company were exchanged, compared to its average volume of 104,293. The company’s 50 day simple moving average is $66.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.02 and a current ratio of 1.43. Mantech International has a 52-week low of $48.25 and a 52-week high of $71.90. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 32.58, a price-to-earnings-growth ratio of 3.73 and a beta of 0.92.

Mantech International (NASDAQ:MANT) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The company had revenue of $537.00 million for the quarter, compared to the consensus estimate of $551.29 million. Mantech International had a return on equity of 6.21% and a net margin of 4.30%. Mantech International’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 EPS. Equities analysts expect that Mantech International will post 2.31 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.27 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.61%. Mantech International’s dividend payout ratio (DPR) is presently 52.43%.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in Mantech International in the 4th quarter valued at approximately $23,047,000. OppenheimerFunds Inc. boosted its holdings in Mantech International by 9.4% in the first quarter. OppenheimerFunds Inc. now owns 751,664 shares of the technology company’s stock valued at $40,605,000 after acquiring an additional 64,530 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new position in Mantech International in the second quarter valued at $2,239,000. Marshall Wace LLP acquired a new position in Mantech International in the first quarter valued at $1,507,000. Finally, Victory Capital Management Inc. boosted its holdings in Mantech International by 1.8% in the first quarter. Victory Capital Management Inc. now owns 1,157,978 shares of the technology company’s stock valued at $62,554,000 after acquiring an additional 20,473 shares during the last quarter. 63.70% of the stock is owned by hedge funds and other institutional investors.

About Mantech International

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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