The Hackett Group (NASDAQ:HCKT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.
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. “
A number of other analysts have also recently commented on the stock. Barrington Research cut their price target on shares of The Hackett Group from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. BidaskClub cut shares of The Hackett Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th. Finally, TheStreet cut shares of The Hackett Group from a “b” rating to a “c+” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned 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 HCKT opened at $15.29 on Wednesday. The Hackett Group has a 12 month low of $14.53 and a 12 month high of $19.57. The firm has a fifty day simple moving average of $15.81 and a 200 day simple moving average of $16.31. The stock has a market capitalization of $455.68 million, a price-to-earnings ratio of 14.42, a PEG ratio of 1.33 and a beta of 0.67. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.06.
The Hackett Group (NASDAQ:HCKT) last announced its earnings results on Tuesday, November 5th. The business services provider reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The Hackett Group had a return on equity of 21.32% and a net margin of 7.45%. The business had revenue of $72.64 million for the quarter, compared to analyst estimates of $73.16 million. During the same quarter in the previous year, the company posted $0.27 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, research analysts predict that The Hackett Group will post 0.85 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in HCKT. Quantamental Technologies LLC acquired a new stake in The Hackett Group in the second quarter valued at $30,000. Meeder Asset Management Inc. lifted its stake in The Hackett Group by 284.2% in the third quarter. Meeder Asset Management Inc. now owns 2,974 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 2,200 shares during the last quarter. Bank of Montreal Can raised its position in shares of The Hackett Group by 28.5% in the second quarter. Bank of Montreal Can now owns 6,455 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 1,430 shares during the period. Aperio Group LLC bought a new position in shares of The Hackett Group in the second quarter valued at about $173,000. Finally, GSA Capital Partners LLP bought a new position in shares of The Hackett Group in the second quarter valued at about $208,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.
About The Hackett Group
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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