The Hackett Group Inc. (HCKT) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of The Hackett Group Inc. (NASDAQ:HCKT) from a buy rating to a hold rating in a research report report published 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. “

The Hackett Group (NASDAQ:HCKT) opened at 16.07 on Tuesday. The Hackett Group has a 52 week low of $12.44 and a 52 week high of $20.02. The stock has a market cap of $458.91 million, a price-to-earnings ratio of 31.51 and a beta of 0.96. The firm’s 50-day moving average is $16.32 and its 200 day moving average is $15.02.

The Hackett Group (NASDAQ:HCKT) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The business earned $75.61 million during the quarter, compared to the consensus estimate of $72.08 million. The Hackett Group had a return on equity of 20.00% and a net margin of 6.09%. The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 EPS. On average, equities research analysts expect that The Hackett Group will post $0.90 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its position in shares of The Hackett Group by 71.0% in the second quarter. Acrospire Investment Management LLC now owns 8,672 shares of the company’s stock valued at $120,000 after buying an additional 3,600 shares during the last quarter. Walleye Trading LLC increased its position in shares of The Hackett Group by 142.9% in the second quarter. Walleye Trading LLC now owns 10,200 shares of the company’s stock valued at $141,000 after buying an additional 6,000 shares during the last quarter. BlackRock Group LTD increased its position in shares of The Hackett Group by 44.1% in the second quarter. BlackRock Group LTD now owns 10,304 shares of the company’s stock valued at $143,000 after buying an additional 3,151 shares during the last quarter. BlackRock Inc. increased its position in shares of The Hackett Group by 623.7% in the second quarter. BlackRock Inc. now owns 11,826 shares of the company’s stock valued at $164,000 after buying an additional 10,192 shares during the last quarter. Finally, Navellier & Associates Inc increased its position in shares of The Hackett Group by 10.0% in the second quarter. Navellier & Associates Inc now owns 12,130 shares of the company’s stock valued at $168,000 after buying an additional 1,099 shares during the last quarter. 75.69% of the stock is owned by institutional investors and hedge funds.

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.

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