The Hackett Group, Inc. (NASDAQ:HCKT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to 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 downgraded The Hackett Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two 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 $19.00.

Shares of The Hackett Group (NASDAQ:HCKT) traded down 0.86% during midday trading on Tuesday, hitting $14.93. The stock had a trading volume of 80,467 shares. The stock’s 50 day moving average price is $14.85 and its 200 day moving average price is $15.72. The Hackett Group has a 12 month low of $13.24 and a 12 month high of $20.69. The firm has a market cap of $431.01 million, a price-to-earnings ratio of 19.88 and a beta of 0.86.

The Hackett Group (NASDAQ:HCKT) last posted 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 Hackett Group had a return on equity of 27.74% and a net margin of 8.42%. The company had revenue of $73.60 million during the quarter, compared to the consensus estimate of $74.36 million. During the same period last year, the business earned $0.24 EPS. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, equities analysts forecast that The Hackett Group will post $0.97 EPS for the current fiscal year.

The Hackett Group announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 8th that allows the company to buyback $5.00 million in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 17% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

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Institutional investors and hedge funds have recently modified their holdings of the stock. Fortaleza Asset Management Inc. bought a new stake in The Hackett Group during the 4th quarter valued at approximately $134,000. Prudential Financial Inc. raised its stake in The Hackett Group by 50.3% during the 3rd quarter. Prudential Financial Inc. now owns 115,933 shares of the business services provider’s stock valued at $1,915,000 after purchasing an additional 38,790 shares during the period. Hosking Partners LLP raised its stake in The Hackett Group by 1.3% during the 4th quarter. Hosking Partners LLP now owns 744,543 shares of the business services provider’s stock valued at $11,965,000 after purchasing an additional 9,714 shares during the period. Trigran Investments Inc. raised its stake in The Hackett Group by 484.9% during the 2nd quarter. Trigran Investments Inc. now owns 641,337 shares of the business services provider’s stock valued at $9,940,000 after purchasing an additional 531,681 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in The Hackett Group during the 1st quarter valued at approximately $125,000. 75.83% of the stock is currently 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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