The Hackett Group, Inc. (HCKT) Upgraded by Zacks Investment Research to Hold
The Hackett Group, Inc. (NASDAQ:HCKT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued 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. “
Other equities analysts have also recently issued research reports about the stock. SunTrust Banks, Inc. started coverage on shares of The Hackett Group in a research note on Thursday, June 15th. They set a “buy” rating and a $19.00 target price on the stock. Craig Hallum lowered shares of The Hackett Group from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research report on Wednesday, May 10th. Finally, Roth Capital lowered shares of The Hackett Group from a “buy” rating to a “neutral” rating and set a $20.00 price target for the company. in a research report on Wednesday, May 10th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The Hackett Group presently has an average rating of “Buy” and a consensus target price of $20.00.
The Hackett Group (NASDAQ HCKT) traded up 0.81% during midday trading on Tuesday, hitting $16.27. 76,721 shares of the stock traded hands. The company has a market capitalization of $475.39 million, a price-to-earnings ratio of 21.13 and a beta of 0.77. The stock’s 50-day moving average price is $15.07 and its 200 day moving average price is $17.50. The Hackett Group has a 52 week low of $13.06 and a 52 week high of $20.69.
The Hackett Group (NASDAQ:HCKT) last announced its earnings results on Tuesday, May 9th. The business services provider reported $0.23 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.23. The Hackett Group had a net margin of 8.60% and a return on equity of 28.73%. The firm had revenue of $71.50 million for the quarter, compared to analysts’ expectations of $72.98 million. During the same quarter in the previous year, the business posted $0.20 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts predict that The Hackett Group will post $0.99 EPS for the current year.
The Hackett Group announced that its Board of Directors has initiated a share repurchase program on Monday, May 15th that authorizes the company to repurchase $5.00 million in shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Institutional investors have recently made changes to their positions in the stock. Gerstein Fisher purchased a new position in shares of The Hackett Group during the third quarter valued at approximately $151,000. Thomson Horstmann & Bryant raised its position in The Hackett Group by 0.7% in the fourth quarter. Thomson Horstmann & Bryant now owns 398,276 shares of the business services provider’s stock valued at $6,400,000 after buying an additional 2,900 shares during the period. James Investment Research Inc. raised its position in The Hackett Group by 83.3% in the fourth quarter. James Investment Research Inc. now owns 87,450 shares of the business services provider’s stock valued at $1,405,000 after buying an additional 39,750 shares during the period. Hosking Partners LLP raised its position in The Hackett Group by 1.3% in the fourth quarter. Hosking Partners LLP now owns 744,543 shares of the business services provider’s stock valued at $11,965,000 after buying an additional 9,714 shares during the period. Finally, Punch & Associates Investment Management Inc. raised its position in The Hackett Group by 1.2% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 580,269 shares of the business services provider’s stock valued at $9,325,000 after buying an additional 6,953 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.
The Hackett Group Company Profile
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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