The Hackett Group, Inc. (HCKT) Raised 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 on Wednesday.
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 raised shares of The Hackett Group from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The Hackett Group currently has a consensus rating of “Hold” and a consensus target price of $19.00.
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 Zacks’ consensus estimate of $0.21 by ($0.02). The Hackett Group had a net margin of 8.42% and a return on equity of 27.74%. The firm had revenue of $73.60 million during the quarter, compared to the consensus estimate of $74.36 million. During the same period in the prior year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year.
The Hackett Group announced that its board has approved a share buyback plan on Tuesday, August 8th that permits the company to repurchase $5.00 million in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 17% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. bought a new stake in shares of The Hackett Group in the 1st quarter valued at $125,000. SG Americas Securities LLC bought a new stake in shares of The Hackett Group in the 2nd quarter valued at $116,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of The Hackett Group in the 2nd quarter valued at $124,000. Frontier Wealth Management LLC bought a new stake in shares of The Hackett Group in the 2nd quarter valued at $171,000. Finally, Voya Investment Management LLC bought a new stake in shares of The Hackett Group in the 2nd quarter valued at $175,000. 75.59% of the stock is currently owned by institutional investors.
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.
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