StarTek (NYSE:SRT) Rating Increased to Buy at ValuEngine

StarTek (NYSE:SRT) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Tuesday, ValuEngine reports.

Other analysts also recently issued reports about the stock. Lake Street Capital set a $12.00 price objective on shares of StarTek and gave the company a “buy” rating in a research report on Friday, May 17th. Zacks Investment Research downgraded shares of StarTek from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th.

Shares of SRT stock traded up $0.05 on Tuesday, hitting $6.99. 946 shares of the stock traded hands, compared to its average volume of 83,591. StarTek has a 52 week low of $5.26 and a 52 week high of $8.93. The firm has a 50 day simple moving average of $6.59 and a two-hundred day simple moving average of $7.39. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.72.

StarTek (NYSE:SRT) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.09). The firm had revenue of $160.55 million for the quarter, compared to the consensus estimate of $157.92 million. StarTek had a negative net margin of 4.36% and a negative return on equity of 6.70%. Sell-side analysts expect that StarTek will post -0.15 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Royal Bank of Canada purchased a new position in shares of StarTek during the 2nd quarter worth about $34,000. Strs Ohio purchased a new position in shares of StarTek during the 2nd quarter worth about $35,000. JPMorgan Chase & Co. purchased a new position in shares of StarTek during the 2nd quarter worth about $35,000. Charles Schwab Investment Management Inc. purchased a new position in shares of StarTek during the 2nd quarter worth about $324,000. Finally, Northern Trust Corp boosted its stake in shares of StarTek by 35.8% during the 2nd quarter. Northern Trust Corp now owns 51,270 shares of the business services provider’s stock worth $418,000 after purchasing an additional 13,519 shares during the period. 13.39% of the stock is owned by institutional investors and hedge funds.

About StarTek

StarTek, Inc operates as a business process outsourcing company that provides omnichannel customer interactions and technology back-office support solutions. It primarily offers customer engagement consulting, omnichannel engagement, social media, customer intelligence analytics, scientific research, back office, and receivables management services under the Startek and Aegis brands.

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