StarTek, Inc. (SRT) Upgraded to “Strong-Buy” at Zacks Investment Research
StarTek, Inc. (NYSE:SRT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Saturday. The brokerage currently has a $12.00 target price on the business services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 14.50% from the stock’s previous close.
According to Zacks, “StarTek, Inc. is a global provider of process management services and owns and operates branded vertical market Internet web sites. Their process management service platforms include E-commerce support and fulfillment, provisioning management for telecommunications systems, high-end inbound technical support, and an offering of supply chain management services. As an outsourcer of process management services as its core business, StarTek allows its clients to focus on their primary business, reduce overhead, replace fixed costs with variable costs, and reduce working capital needs. “
Separately, Lake Street Capital lifted their price objective on shares of StarTek from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd.
Shares of StarTek (NYSE:SRT) opened at 10.48 on Friday. StarTek has a 12-month low of $4.10 and a 12-month high of $10.80. The company’s 50 day moving average is $8.84 and its 200 day moving average is $8.49. The company has a market capitalization of $165.73 million, a P/E ratio of 80.00 and a beta of -1.25.
StarTek (NYSE:SRT) last released its quarterly earnings data on Tuesday, February 21st. The business services provider reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.04. StarTek had a negative return on equity of 1.10% and a negative net margin of 0.15%. The company had revenue of $77.13 million for the quarter, compared to the consensus estimate of $84.47 million. During the same period last year, the firm earned $0.02 earnings per share. Analysts expect that StarTek will post $0.32 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in SRT. Renaissance Technologies LLC boosted its stake in shares of StarTek by 22.5% in the fourth quarter. Renaissance Technologies LLC now owns 610,400 shares of the business services provider’s stock worth $5,158,000 after buying an additional 112,000 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of StarTek by 70.6% in the first quarter. Acadian Asset Management LLC now owns 150,761 shares of the business services provider’s stock worth $1,307,000 after buying an additional 62,407 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of StarTek by 202.4% in the first quarter. Russell Investments Group Ltd. now owns 30,204 shares of the business services provider’s stock worth $262,000 after buying an additional 20,216 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of StarTek by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 22,443 shares of the business services provider’s stock worth $195,000 after buying an additional 1,000 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of StarTek by 393.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 17,104 shares of the business services provider’s stock worth $149,000 after buying an additional 13,639 shares during the last quarter. 42.87% of the stock is owned by institutional investors.
StarTek, Inc is a customer engagement business process outsourcing (BPO) services provider, delivering customer care solutions. The Company operates through three segments: Domestic, Nearshore and Offshore. As of December 31, 2016, its Domestic segment included the operations of 13 facilities in the United States and one facility in Canada; its Offshore segment included the operations of four facilities in the Philippines, and its Nearshore segment included the operations of two facilities in Honduras and one facility in Jamaica.
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