Analysts at Zacks Investment Research downgraded shares of Manhattan Associates Inc. (NASDAQ: MANH) from Buy to Hold in a research note to investors today. With a rating of Hold on the stock, Manhattan Associates Inc. has a 52-week high of $77.75. A number of other analysts have issued reports on the stock recently, and the company has earned a consensus one-year price target of $72.75, higher than the opening price of $59.34. considerable and fundamental digressions in the company’s actions, future direction or industry can cause downgrades as the analysts feel that the future prospects for the security have weakened from the original recommendation.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Shares of Manhattan Associates Inc. (NASDAQ: MANH) opened at $59.34 yesterday and traded in a range between, $57.84 and $59.56, and last traded at $58.13, which is a drop of $0.94 from the previous closing price.
Manhattan Associates Inc. (NASDAQ: MANH) now has a market cap of 4.16B.
548,614 shares crossed the trading desk yesterday, below normal, out of a total float 71,018,000. Investors often use increases in trading volume to identify substantial volume growth or distribution by institutional investors, so trading volume is likely to increase in the next few days.
While higher trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a series of days or weeks expresses a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is crucial.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts researching thousands of stocks, so it is good validation to see them buying a stock you are researching.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Manhattan Associates Inc. (NASDAQ: MANH) now has a 50-day MA of $59.56 and 200-day MA of $60.81. It has traded in a 52-week range between $44.14 – 77.75 and today’s last price is 0.25% lower than the 52 week high of $77.75.
Earnings growth is a crucial factor to look at when investing in stocks and investors look for companies that have been successful at growing their earnings by at least 25% over a 3 year period.
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