The Hackett Group, Inc. (HCKT) Receives Average Recommendation of “Hold” from Analysts
Shares of The Hackett Group, Inc. (NASDAQ:HCKT) have been assigned an average rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $19.25.
Several research analysts have recently issued reports on HCKT shares. SunTrust Banks, Inc. started coverage on The Hackett Group in a research note on Thursday, June 15th. They issued a “buy” rating and a $19.00 price objective for the company. Zacks Investment Research upgraded The Hackett Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, BidaskClub upgraded The Hackett Group from a “hold” rating to a “buy” rating in a research note on Monday, July 24th.
Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in The Hackett Group during the second quarter valued at approximately $116,000. Victory Capital Management Inc. raised its position in The Hackett Group by 17.6% during the second quarter. Victory Capital Management Inc. now owns 7,522 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 1,127 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in The Hackett Group during the second quarter valued at approximately $124,000. Frontier Wealth Management LLC purchased a new position in The Hackett Group during the second quarter valued at approximately $171,000. Finally, Voya Investment Management LLC purchased a new position in The Hackett Group during the second quarter valued at approximately $175,000. Institutional investors own 81.51% of the company’s stock.
Shares of The Hackett Group (HCKT) opened at 14.67 on Friday. The stock has a market cap of $423.51 million, a price-to-earnings ratio of 19.53 and a beta of 0.88. The Hackett Group has a 52-week low of $13.24 and a 52-week high of $20.69. The stock’s 50 day moving average is $14.18 and its 200 day moving average is $16.44.
The Hackett Group (NASDAQ:HCKT) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). The Hackett Group had a return on equity of 27.74% and a net margin of 8.42%. The firm had revenue of $73.60 million during the quarter, compared to analysts’ expectations of $74.36 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, equities analysts predict that The Hackett Group will post $0.97 EPS for the current fiscal year.
The Hackett Group declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 8th that authorizes the company to buyback $5.00 million in shares. This buyback authorization authorizes the business services provider to purchase up to 17% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.
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.
Receive News & Ratings for The Hackett Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hackett Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.