The Hackett Group Inc. (HCKT) Stock Rating Lowered by Zacks Investment Research
The Hackett Group Inc. (NASDAQ:HCKT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “The Hackett Group, a global strategic advisory firm and an Answerthink company, is a leader in best practice research and advisory programs, benchmarking and transformation consulting services, including shared services, offshoring and outsourcing advice. Utilizing best practices and implementation insight from more than 4,000 benchmarking studies, executives use Hackett’s empirically based approach to quickly define and prioritize initiatives, and to leverage proven strategies that enable world-class performance. “
Shares of The Hackett Group (NASDAQ:HCKT) traded down 1.35% during mid-day trading on Tuesday, reaching $16.10. The company had a trading volume of 117,465 shares. The firm’s 50-day moving average price is $16.30 and its 200 day moving average price is $15.00. The company has a market cap of $459.77 million, a price-to-earnings ratio of 31.57 and a beta of 0.96. The Hackett Group has a 52-week low of $12.44 and a 52-week high of $20.02.
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The Hackett Group (NASDAQ:HCKT) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The company had revenue of $75.61 million for the quarter, compared to analyst estimates of $72.08 million. The Hackett Group had a return on equity of 20.00% and a net margin of 6.09%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 earnings per share. Equities analysts expect that The Hackett Group will post $0.90 EPS for the current year.
A number of institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC raised its position in shares of The Hackett Group by 71.0% in the second quarter. Acrospire Investment Management LLC now owns 8,672 shares of the company’s stock valued at $120,000 after buying an additional 3,600 shares during the period. Walleye Trading LLC raised its position in shares of The Hackett Group by 142.9% in the second quarter. Walleye Trading LLC now owns 10,200 shares of the company’s stock valued at $141,000 after buying an additional 6,000 shares during the period. BlackRock Group LTD raised its position in shares of The Hackett Group by 44.1% in the second quarter. BlackRock Group LTD now owns 10,304 shares of the company’s stock valued at $143,000 after buying an additional 3,151 shares during the period. BlackRock Inc. raised its position in shares of The Hackett Group by 623.7% in the second quarter. BlackRock Inc. now owns 11,826 shares of the company’s stock valued at $164,000 after buying an additional 10,192 shares during the period. Finally, Navellier & Associates Inc raised its position in shares of The Hackett Group by 10.0% in the second quarter. Navellier & Associates Inc now owns 12,130 shares of the company’s stock valued at $168,000 after buying an additional 1,099 shares during the period. 75.69% of the stock is currently owned by hedge funds and other institutional investors.
About The Hackett Group
The Hackett Group, Inc is an advisory and technology consulting company. The Company’s services include business transformation, enterprise performance management, working capital management and global business services. The Company is engaged in providing business and technology consulting services.
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