The Hackett Group (NASDAQ:HCKT) Price Target Cut to $26.00

The Hackett Group (NASDAQ:HCKT) had its price target dropped by stock analysts at Barrington Research from $28.00 to $26.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Barrington Research’s price objective points to a potential upside of 21.38% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Craig Hallum upgraded shares of The Hackett Group from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Wednesday, February 21st. StockNews.com cut shares of The Hackett Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 27th.

The Hackett Group Trading Down 3.5 %

NASDAQ:HCKT traded down $0.78 during trading hours on Wednesday, hitting $21.42. The company had a trading volume of 127,763 shares, compared to its average volume of 89,382. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.51 and a quick ratio of 1.51. The Hackett Group has a 52 week low of $17.18 and a 52 week high of $26.69. The company has a market capitalization of $590.76 million, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.15 and a beta of 0.87. The stock has a 50-day moving average price of $23.48 and a 200 day moving average price of $23.05.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings results on Tuesday, February 20th. The business services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The Hackett Group had a net margin of 11.52% and a return on equity of 43.58%. The business had revenue of $71.17 million for the quarter, compared to analysts’ expectations of $69.65 million. On average, equities research analysts predict that The Hackett Group will post 1.42 EPS for the current fiscal year.

Institutional Trading of The Hackett Group

Several institutional investors and hedge funds have recently modified their holdings of HCKT. Boston Partners increased its stake in The Hackett Group by 0.6% in the 3rd quarter. Boston Partners now owns 601,304 shares of the business services provider’s stock worth $14,035,000 after buying an additional 3,666 shares in the last quarter. Wellington Management Group LLP raised its stake in The Hackett Group by 15.2% during the 3rd quarter. Wellington Management Group LLP now owns 576,042 shares of the business services provider’s stock valued at $13,589,000 after purchasing an additional 76,000 shares during the period. Wells Fargo & Company MN lifted its holdings in The Hackett Group by 1.5% in the 4th quarter. Wells Fargo & Company MN now owns 337,382 shares of the business services provider’s stock worth $7,682,000 after purchasing an additional 4,839 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in The Hackett Group by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 256,795 shares of the business services provider’s stock worth $5,847,000 after purchasing an additional 2,299 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in The Hackett Group by 90.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 227,061 shares of the business services provider’s stock valued at $5,356,000 after buying an additional 107,963 shares in the last quarter. 78.12% of the stock is currently owned by institutional investors.

About The Hackett Group

The Hackett Group, Inc operates as an intellectual property-based executive advisory, strategic consulting, and digital transformation company in the United States, Europe, and internationally. The company operates through three segments: Global Strategy & Business Transformation, Oracle Solutions, and SAP Solutions.