The Hackett Group (HCKT) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of The Hackett Group (NASDAQ:HCKT) from a buy rating to a hold rating in a report released on Thursday morning.

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. “

HCKT has been the topic of several other research reports. SunTrust Banks reaffirmed a buy rating on shares of The Hackett Group in a research report on Friday, February 23rd. BidaskClub raised shares of The Hackett Group from a sell rating to a hold rating in a research report on Monday, February 5th. Finally, Barrington Research set a $22.00 price target on shares of The Hackett Group and gave the company a buy rating in a research report on Friday, April 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The Hackett Group has an average rating of Hold and an average target price of $19.00.

HCKT stock opened at $16.64 on Thursday. The stock has a market cap of $486.63, a PE ratio of 22.19, a P/E/G ratio of 1.19 and a beta of 0.80. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.18. The Hackett Group has a 1 year low of $13.24 and a 1 year high of $20.35.

The Hackett Group (NASDAQ:HCKT) last released its quarterly earnings data on Tuesday, February 20th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The company had revenue of $69.40 million for the quarter, compared to analysts’ expectations of $67.48 million. The Hackett Group had a net margin of 9.57% and a return on equity of 24.81%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 EPS. sell-side analysts expect that The Hackett Group will post 0.93 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in HCKT. Wasatch Advisors Inc. lifted its position in The Hackett Group by 108.4% in the 4th quarter. Wasatch Advisors Inc. now owns 958,191 shares of the business services provider’s stock valued at $15,053,000 after acquiring an additional 498,305 shares in the last quarter. LSV Asset Management lifted its position in The Hackett Group by 176.6% in the 4th quarter. LSV Asset Management now owns 660,308 shares of the business services provider’s stock valued at $10,373,000 after acquiring an additional 421,604 shares in the last quarter. Opus Capital Group LLC lifted its position in The Hackett Group by 1,497.7% in the 4th quarter. Opus Capital Group LLC now owns 191,263 shares of the business services provider’s stock valued at $3,005,000 after acquiring an additional 179,292 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in The Hackett Group in the 4th quarter valued at about $2,227,000. Finally, Rice Hall James & Associates LLC bought a new position in The Hackett Group in the 4th quarter valued at about $1,841,000. 76.84% of the stock is currently owned by institutional investors and hedge funds.

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The Hackett Group Company Profile

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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