Zacks Investment Research Upgrades The Hackett Group, Inc. (HCKT) to “Hold”

The Hackett Group, Inc. (NASDAQ:HCKT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

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. “

Separately, BidaskClub raised shares of The Hackett Group from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The Hackett Group has an average rating of “Hold” and an average target price of $19.25.

The Hackett Group (HCKT) traded down 0.85% during trading on Tuesday, reaching $15.13. The company’s stock had a trading volume of 42,741 shares. The Hackett Group has a one year low of $13.24 and a one year high of $20.69. The company has a 50-day moving average of $14.61 and a 200 day moving average of $15.93. The firm has a market cap of $436.79 million, a PE ratio of 20.15 and a beta of 0.86.

The Hackett Group (NASDAQ:HCKT) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The Hackett Group had a net margin of 8.42% and a return on equity of 27.74%. The business had revenue of $73.60 million for the quarter, compared to the consensus estimate of $74.36 million. During the same period in the prior year, the business posted $0.24 EPS. The Hackett Group’s revenue for the quarter was down 2.6% on a year-over-year basis. Analysts expect that The Hackett Group will post $0.97 EPS for the current fiscal year.

The Hackett Group announced that its Board of Directors has initiated a stock buyback program on Tuesday, August 8th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 17% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

WARNING: This story was originally reported by Markets Daily and is owned by of Markets Daily. If you are viewing this story on another website, it was stolen and republished in violation of United States & international copyright and trademark law. The legal version of this story can be read at https://www.themarketsdaily.com/2017/10/18/zacks-investment-research-upgrades-the-hackett-group-inc-hckt-to-hold.html.

A number of hedge funds have recently modified their holdings of HCKT. SG Americas Securities LLC purchased a new stake in The Hackett Group in the second quarter worth approximately $116,000. Victory Capital Management Inc. boosted its stake in shares of The Hackett Group by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 7,522 shares of the business services provider’s stock worth $117,000 after acquiring an additional 1,127 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in shares of The Hackett Group during the 2nd quarter worth $124,000. Frontier Wealth Management LLC purchased a new position in shares of The Hackett Group during the 2nd quarter worth $171,000. Finally, Voya Investment Management LLC purchased a new position in shares of The Hackett Group during the 2nd quarter worth $175,000. Institutional investors own 81.54% of the company’s stock.

The Hackett Group Company Profile

The Hackett Group, Inc is an advisory and technology consulting company. The Company’s services include business transformation, enterprise performance management, working capital management and global business services. The Company is engaged in providing business and technology consulting services.

Analyst Recommendations for The Hackett Group (NASDAQ:HCKT)

Receive News & Ratings for The Hackett Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hackett Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply