Manchester United (MANU) Upgraded by Zacks Investment Research to “Buy”

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Zacks Investment Research upgraded shares of Manchester United (NYSE:MANU) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $21.00 target price on the stock.

According to Zacks, “Manchester United PLC operates a professional sports team. The Company manages the soccer team and all affiliated club activities of the Manchester United Football Club that includes the media network, foundation, fan zone, news and sports features, and team merchandise. Manchester United PLC is based in Manchester, United Kingdom. “

Several other research analysts also recently commented on MANU. Deutsche Bank set a $20.00 price target on shares of Manchester United and gave the stock a hold rating in a research note on Wednesday, February 20th. ValuEngine downgraded shares of Manchester United from a buy rating to a hold rating in a research note on Wednesday, May 15th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $22.75.

Manchester United stock opened at $18.39 on Wednesday. The stock has a market capitalization of $739.19 million, a PE ratio of 131.36, a PEG ratio of 3.86 and a beta of 0.62. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.08. Manchester United has a 12-month low of $16.91 and a 12-month high of $27.70.

Manchester United (NYSE:MANU) last posted its quarterly earnings results on Thursday, May 16th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.10. The company had revenue of $152.10 million for the quarter, compared to the consensus estimate of $156.97 million. Manchester United had a net margin of 3.67% and a return on equity of 13.45%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) EPS. Research analysts forecast that Manchester United will post 0.22 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC increased its stake in Manchester United by 443.9% in the 4th quarter. Acadian Asset Management LLC now owns 1,686 shares of the company’s stock worth $32,000 after buying an additional 1,376 shares during the period. Quantamental Technologies LLC purchased a new position in Manchester United in the 4th quarter worth about $37,000. BlueCrest Capital Management Ltd purchased a new position in Manchester United in the 1st quarter worth about $284,000. Geode Capital Management LLC increased its stake in Manchester United by 47.3% in the 4th quarter. Geode Capital Management LLC now owns 18,378 shares of the company’s stock worth $348,000 after buying an additional 5,905 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Manchester United by 104,582.9% in the 1st quarter. JPMorgan Chase & Co. now owns 36,639 shares of the company’s stock worth $705,000 after buying an additional 36,604 shares during the period. 85.29% of the stock is currently owned by institutional investors.

About Manchester United

Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. The company operates Manchester United Football Club, a professional football club. It develops marketing and sponsorship relationships with international and regional companies to leverage its brand.

See Also: NASDAQ

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