The Hackett Group (HCKT) Shares Down 12.2% After Earnings Miss

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The Hackett Group, Inc. (NASDAQ:HCKT)’s share price fell 12.2% during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $17.47 and last traded at $19.98. 844,254 shares traded hands during mid-day trading, an increase of 690% from the average session volume of 106,889 shares. The stock had previously closed at $22.76.

The business services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.06). The Hackett Group had a net margin of 11.62% and a return on equity of 23.41%. The firm had revenue of $73.84 million during the quarter, compared to analysts’ expectations of $73.70 million. During the same period last year, the company earned $0.26 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis.

The company also recently declared a semiannual dividend, which will be paid on Friday, January 4th. Stockholders of record on Friday, December 21st will be paid a $0.17 dividend. This is a boost from The Hackett Group’s previous semiannual dividend of $0.15. The ex-dividend date of this dividend is Thursday, December 20th. This represents a dividend yield of 1.7%. The Hackett Group’s dividend payout ratio is 44.74%.

Several research firms have recently weighed in on HCKT. Barrington Research set a $22.00 price target on shares of The Hackett Group and gave the company a “buy” rating in a research note on Tuesday, October 30th. Zacks Investment Research raised shares of The Hackett Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 17th. BidaskClub raised shares of The Hackett Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 28th. SunTrust Banks reissued a “buy” rating and issued a $23.00 price target on shares of The Hackett Group in a research note on Thursday, August 9th. Finally, ValuEngine raised shares of The Hackett Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The Hackett Group has an average rating of “Buy” and a consensus price target of $20.75.

Several hedge funds have recently modified their holdings of HCKT. Dynamic Technology Lab Private Ltd acquired a new position in shares of The Hackett Group in the 1st quarter worth approximately $177,000. Engineers Gate Manager LP acquired a new position in shares of The Hackett Group in the 3rd quarter worth approximately $242,000. Ramsey Quantitative Systems lifted its holdings in shares of The Hackett Group by 21.1% in the 2nd quarter. Ramsey Quantitative Systems now owns 18,219 shares of the business services provider’s stock worth $293,000 after acquiring an additional 3,176 shares during the last quarter. Falcon Point Capital LLC acquired a new position in shares of The Hackett Group in the 3rd quarter worth approximately $434,000. Finally, Eqis Capital Management Inc. lifted its holdings in shares of The Hackett Group by 17.7% in the 2nd quarter. Eqis Capital Management Inc. now owns 27,589 shares of the business services provider’s stock worth $443,000 after acquiring an additional 4,153 shares during the last quarter. Hedge funds and other institutional investors own 79.68% of the company’s stock.

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $657.59 million, a P/E ratio of 26.29, a P/E/G ratio of 1.67 and a beta of 0.92.

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The Hackett Group Company Profile (NASDAQ:HCKT)

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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