Barrington Research reissued their buy rating on shares of The Hackett Group (NASDAQ:HCKT) in a research report sent to investors on Friday morning, AnalystRatings.com reports. They currently have a $22.00 price target on the business services provider’s stock.
“We expect a growing contribution from the company’s intellectual property (IP) business over time as it grows revenue from existing clients and adds new strategic relationships. In Q2/18, the company expanded its relationship with ADP (ADP: NOT RATED) by adding another platform to its revenue sharing arrangement.”,” the firm’s analyst commented.
Other equities research analysts have also issued reports about the stock. BidaskClub raised shares of The Hackett Group from a hold rating to a buy rating in a report on Thursday. Zacks Investment Research raised shares of The Hackett Group from a sell rating to a hold rating in a report on Wednesday, April 24th. ValuEngine lowered shares of The Hackett Group from a buy rating to a hold rating in a report on Wednesday, February 20th. Finally, Roth Capital reaffirmed a buy rating on shares of The Hackett Group in a report on Wednesday, February 20th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The Hackett Group has an average rating of Buy and a consensus price target of $22.50.
Shares of NASDAQ:HCKT opened at $17.29 on Friday. The company has a market capitalization of $514.21 million, a PE ratio of 16.31, a PEG ratio of 1.28 and a beta of 0.83. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.10. The Hackett Group has a 12 month low of $15.16 and a 12 month high of $22.84.
The Hackett Group (NASDAQ:HCKT) last issued its earnings results on Tuesday, May 7th. The business services provider reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $65.99 million. The Hackett Group had a net margin of 8.35% and a return on equity of 21.76%. The business’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 EPS. As a group, research analysts expect that The Hackett Group will post 0.9 EPS for the current year.
The firm also recently announced a semiannual dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.18 per share. This represents a yield of 2.17%. This is a positive change from The Hackett Group’s previous semiannual dividend of $0.17. The ex-dividend date of this dividend is Thursday, June 27th. The Hackett Group’s payout ratio is presently 32.08%.
A number of institutional investors and hedge funds have recently bought and sold shares of HCKT. FMR LLC grew its holdings in The Hackett Group by 65.0% during the 4th quarter. FMR LLC now owns 2,668,126 shares of the business services provider’s stock worth $42,716,000 after acquiring an additional 1,051,127 shares during the last quarter. Wasatch Advisors Inc. grew its holdings in The Hackett Group by 27.8% during the 1st quarter. Wasatch Advisors Inc. now owns 1,092,669 shares of the business services provider’s stock worth $17,264,000 after acquiring an additional 237,597 shares during the last quarter. Foundry Partners LLC bought a new stake in The Hackett Group during the 1st quarter worth approximately $3,149,000. Cadence Capital Management LLC bought a new stake in shares of The Hackett Group in the 1st quarter valued at $2,436,000. Finally, Crawford Investment Counsel Inc. bought a new stake in shares of The Hackett Group in the 1st quarter valued at $2,265,000. 79.29% of the stock is currently owned by hedge funds and other institutional investors.
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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