Zacks Investment Research upgraded shares of The Hackett Group, Inc. (NASDAQ:HCKT) from a strong sell rating to a hold rating in a report issued on Tuesday, July 18th.
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. “
Several other equities research analysts have also weighed in on HCKT. SunTrust Banks, Inc. assumed coverage on The Hackett Group in a report on Thursday, June 15th. They issued a buy rating and a $19.00 price objective for the company. Roth Capital lowered The Hackett Group from a buy rating to a neutral rating and set a $20.00 target price for the company. in a report on Wednesday, May 10th. Finally, Craig Hallum lowered The Hackett Group from a buy rating to a hold rating and set a $18.00 target price for the company. in a report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $20.00.
Shares of The Hackett Group (NASDAQ HCKT) opened at 13.32 on Tuesday. The Hackett Group has a one year low of $13.24 and a one year high of $20.69. The company has a market capitalization of $386.83 million, a P/E ratio of 17.74 and a beta of 0.78. The firm has a 50-day moving average of $15.74 and a 200-day moving average of $17.14.
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 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 period last year, the business posted $0.24 EPS. The company’s revenue was down 2.6% compared to the same quarter last year. Equities research analysts expect that The Hackett Group will post $0.99 EPS for the current fiscal year.
The Hackett Group announced that its Board of Directors has initiated a share buyback plan on Monday, May 15th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the business services provider to reacquire up to 1.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Several hedge funds have recently modified their holdings of the stock. Martingale Asset Management L P increased its stake in shares of The Hackett Group by 4.8% in the first quarter. Martingale Asset Management L P now owns 103,244 shares of the business services provider’s stock worth $2,013,000 after buying an additional 4,697 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of The Hackett Group during the first quarter worth about $125,000. Bank of New York Mellon Corp increased its stake in shares of The Hackett Group by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 303,800 shares of the business services provider’s stock worth $5,921,000 after buying an additional 25,046 shares during the period. Eqis Capital Management Inc. increased its stake in shares of The Hackett Group by 88.0% in the first quarter. Eqis Capital Management Inc. now owns 26,764 shares of the business services provider’s stock worth $522,000 after buying an additional 12,528 shares during the period. Finally, Putnam Investments LLC acquired a new stake in shares of The Hackett Group during the fourth quarter worth about $576,000. Hedge funds and other institutional investors own 81.75% of the company’s stock.
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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