The Hackett Group (NASDAQ:HCKT) Hits New 12-Month Low After Earnings Miss

The Hackett Group, Inc. (NASDAQ:HCKT) shares reached a new 52-week low on Wednesday following a weaker than expected earnings announcement. The company traded as low as $15.08 and last traded at $15.08, with a volume of 2476 shares changing hands. The stock had previously closed at $17.60.

The business services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The Hackett Group had a return on equity of 21.63% and a net margin of 6.80%. The company had revenue of $72.64 million for the quarter, compared to the consensus estimate of $73.16 million. During the same period last year, the firm posted $0.27 EPS. The company’s revenue was down 1.5% compared to the same quarter last year.

A number of equities analysts recently issued reports on the stock. Barrington Research dropped their target price on shares of The Hackett Group from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday. Zacks Investment Research raised shares of The Hackett Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 9th. Finally, BidaskClub raised shares of The Hackett Group from a “sell” rating to a “hold” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The Hackett Group currently has an average rating of “Buy” and an average price target of $20.00.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in The Hackett Group by 21.6% in the 2nd quarter. BlackRock Inc. now owns 2,626,276 shares of the business services provider’s stock valued at $44,096,000 after buying an additional 466,793 shares during the period. Trigran Investments Inc. increased its holdings in The Hackett Group by 1.0% in the 2nd quarter. Trigran Investments Inc. now owns 1,636,275 shares of the business services provider’s stock valued at $27,473,000 after buying an additional 16,549 shares during the period. Wasatch Advisors Inc. increased its holdings in The Hackett Group by 36.4% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,490,198 shares of the business services provider’s stock valued at $25,020,000 after buying an additional 397,529 shares during the period. Vanguard Group Inc. increased its holdings in The Hackett Group by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,467,507 shares of the business services provider’s stock valued at $24,640,000 after buying an additional 11,330 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in The Hackett Group by 3.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,094,244 shares of the business services provider’s stock valued at $18,372,000 after buying an additional 38,800 shares during the period. 79.35% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market cap of $518.01 million, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.38 and a beta of 0.77. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $16.59 and its 200-day simple moving average is $16.39.

The Hackett Group Company Profile (NASDAQ:HCKT)

The Hackett Group, Inc operates as a strategic advisory and technology consulting firm primarily in North America and European countries. Its executive advisory programs include best practice intelligence center, an online searchable repository of best practices, performance metrics, conference presentations, and associated research; best practice accelerators that provide Web-based access to best practices, customized software configuration tools, and best practice process flows; advisor inquiry, an inquiry service used by clients for access to fact-based advice on proven approaches and methods; best practice research, a research that provides insights into the proven approaches; and peer interaction comprising member-led Webcasts, annual best practice conferences, annual member forums, membership performance surveys, and client-submitted content.

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