StarTek, Inc. (SRT) Stock Rating Upgraded by Zacks Investment Research
StarTek, Inc. (NYSE:SRT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
Several other analysts have also issued reports on the stock. Lake Street Capital boosted their target price on shares of StarTek from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Robert W. Baird restated a “hold” rating and set a $12.00 target price on shares of StarTek in a research report on Wednesday, October 4th.
StarTek (NYSE:SRT) last announced its quarterly earnings results on Wednesday, August 9th. The business services provider reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $73.98 million during the quarter, compared to analyst estimates of $76.84 million. StarTek had a net margin of 1.43% and a return on equity of 9.60%. During the same period in the previous year, the business posted ($0.11) earnings per share. Equities analysts anticipate that StarTek will post $0.30 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: “StarTek, Inc. (SRT) Stock Rating Upgraded by Zacks Investment Research” was posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another site, it was copied illegally and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/10/11/startek-inc-srt-stock-rating-upgraded-by-zacks-investment-research.html.
A number of hedge funds and other institutional investors have recently made changes to their positions in SRT. Citigroup Inc. purchased a new position in StarTek during the second quarter valued at approximately $101,000. Nationwide Fund Advisors lifted its holdings in StarTek by 207.7% during the second quarter. Nationwide Fund Advisors now owns 8,504 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 5,740 shares in the last quarter. KCG Holdings Inc. purchased a new position in StarTek during the first quarter valued at approximately $123,000. New York State Common Retirement Fund purchased a new position in StarTek during the second quarter valued at approximately $133,000. Finally, Cornerstone Capital Management Holdings LLC. purchased a new position in StarTek during the second quarter valued at approximately $146,000. Institutional investors own 48.99% of the company’s stock.
StarTek Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for StarTek Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for StarTek Inc. and related companies with MarketBeat.com's FREE daily email newsletter.