The Hackett Group, Inc. (HCKT) Rating Increased to Hold at Zacks Investment Research
The Hackett Group, Inc. (NASDAQ:HCKT) was upgraded by Zacks Investment Research from a “sell” 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. “
Separately, BidaskClub upgraded The Hackett Group from a “hold” rating to a “buy” rating in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The Hackett Group presently has a consensus rating of “Hold” and a consensus price target of $19.25.
The Hackett Group (NASDAQ HCKT) traded down 0.85% during midday trading on Tuesday, reaching $15.13. The company’s stock had a trading volume of 42,741 shares. The firm has a 50 day moving average price of $14.61 and a 200-day moving average price of $15.93. The company has a market cap of $436.79 million, a P/E ratio of 20.15 and a beta of 0.86. The Hackett Group has a 12-month low of $13.24 and a 12-month high of $20.69.
The Hackett Group (NASDAQ:HCKT) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). The firm had revenue of $73.60 million for the quarter, compared to analysts’ expectations of $74.36 million. The Hackett Group had a return on equity of 27.74% and a net margin of 8.42%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 earnings per share. On average, equities research analysts predict that The Hackett Group will post $0.97 earnings per share for the current fiscal year.
The Hackett Group announced that its Board of Directors has approved a share buyback program on Tuesday, August 8th that permits the company to buyback $5.00 million in shares. This buyback authorization permits the business services provider to reacquire up to 17% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.
Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in The Hackett Group during the 2nd quarter worth about $116,000. Victory Capital Management Inc. lifted its position in The Hackett Group by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 7,522 shares of the business services provider’s stock worth $117,000 after acquiring an additional 1,127 shares during the period. Mountain Capital Investment Advisors Inc acquired a new stake in The Hackett Group during the 2nd quarter worth about $124,000. Frontier Wealth Management LLC acquired a new stake in The Hackett Group during the 2nd quarter worth about $171,000. Finally, Voya Investment Management LLC acquired a new stake in The Hackett Group during the 2nd quarter worth about $175,000. 81.54% of the stock is owned by institutional investors.
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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