The Hackett Group (HCKT) Upgraded to “Buy” by BidaskClub

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BidaskClub upgraded shares of The Hackett Group (NASDAQ:HCKT) from a hold rating to a buy rating in a report released on Tuesday morning.

Several other equities analysts have also recently issued reports on HCKT. Zacks Investment Research raised The Hackett Group from a sell rating to a hold rating in a report on Tuesday, July 17th. Barrington Research set a $22.00 price target on The Hackett Group and gave the stock a buy rating in a report on Friday, October 5th. SunTrust Banks reaffirmed a buy rating and issued a $23.00 price target on shares of The Hackett Group in a report on Thursday, August 9th. Finally, ValuEngine raised The Hackett Group from a hold rating to a buy rating in a report on Thursday, August 9th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $20.75.

Shares of HCKT stock traded down $0.19 on Tuesday, hitting $19.41. The company had a trading volume of 94,319 shares, compared to its average volume of 99,192. The stock has a market cap of $593.66 million, a PE ratio of 25.54, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.11. The Hackett Group has a twelve month low of $14.55 and a twelve month high of $20.59.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings data on Tuesday, August 7th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The business had revenue of $75.65 million during the quarter, compared to analysts’ expectations of $75.04 million. The Hackett Group had a return on equity of 23.41% and a net margin of 11.62%. Sell-side analysts anticipate that The Hackett Group will post 0.89 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in The Hackett Group by 3.8% in the 2nd quarter. BlackRock Inc. now owns 2,333,618 shares of the business services provider’s stock worth $37,500,000 after purchasing an additional 85,858 shares during the period. Dimensional Fund Advisors LP increased its stake in The Hackett Group by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,721,725 shares of the business services provider’s stock worth $27,668,000 after buying an additional 6,464 shares in the last quarter. Trigran Investments Inc. increased its stake in The Hackett Group by 6.3% during the 2nd quarter. Trigran Investments Inc. now owns 1,538,779 shares of the business services provider’s stock worth $24,729,000 after buying an additional 91,387 shares in the last quarter. Wasatch Advisors Inc. increased its stake in The Hackett Group by 0.7% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,207,162 shares of the business services provider’s stock worth $19,399,000 after buying an additional 8,577 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in The Hackett Group by 25.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,051,044 shares of the business services provider’s stock worth $16,890,000 after buying an additional 214,900 shares in the last quarter. 78.65% of the stock is owned by institutional investors.

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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