The Hackett Group (HCKT) Stock Rating Lowered by Zacks Investment Research

The Hackett Group (NASDAQ:HCKT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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. “

Several other research analysts have also recently commented on the stock. BidaskClub cut shares of The Hackett Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. SunTrust Banks reiterated a “buy” rating and issued a $17.00 target price on shares of The Hackett Group in a report on Friday, November 10th. Finally, Roth Capital upgraded shares of The Hackett Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $16.00 to $20.00 in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $18.33.

Shares of The Hackett Group (HCKT) traded up $0.43 on Tuesday, hitting $16.23. 62,500 shares of the company’s stock traded hands, compared to its average volume of 64,455. The Hackett Group has a one year low of $13.24 and a one year high of $20.69. The firm has a market capitalization of $452.77, a PE ratio of 21.64, a price-to-earnings-growth ratio of 1.16 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.68 and a current ratio of 1.68.

The Hackett Group (NASDAQ:HCKT) last announced its earnings results on Tuesday, November 7th. The business services provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. The Hackett Group had a net margin of 8.42% and a return on equity of 26.10%. The company had revenue of $71.50 million during the quarter, compared to analysts’ expectations of $70.66 million. During the same period last year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. sell-side analysts forecast that The Hackett Group will post 0.81 EPS for the current year.

Several hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in shares of The Hackett Group by 4.1% during the second quarter. Rhumbline Advisers now owns 26,472 shares of the business services provider’s stock worth $410,000 after purchasing an additional 1,045 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of The Hackett Group by 17.6% during the second quarter. Victory Capital Management Inc. now owns 7,522 shares of the business services provider’s stock worth $117,000 after purchasing an additional 1,127 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of The Hackett Group by 8.7% during the second quarter. The Manufacturers Life Insurance Company now owns 19,385 shares of the business services provider’s stock worth $301,000 after purchasing an additional 1,549 shares during the period. Nordea Investment Management AB boosted its holdings in shares of The Hackett Group by 0.9% during the second quarter. Nordea Investment Management AB now owns 236,300 shares of the business services provider’s stock worth $3,663,000 after purchasing an additional 2,100 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of The Hackett Group by 104.6% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 6,700 shares of the business services provider’s stock worth $101,000 after purchasing an additional 3,426 shares during the period. Institutional investors and hedge funds own 76.92% of the company’s stock.

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About The Hackett Group

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.

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