The Hackett Group (NASDAQ:HCKT) Upgraded by BidaskClub to Hold

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BidaskClub upgraded shares of The Hackett Group (NASDAQ:HCKT) from a sell rating to a hold rating in a research report report published on Thursday, BidAskClub reports.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research cut The Hackett Group from a hold rating to a sell rating in a research note on Monday, August 12th. Barrington Research reissued a buy rating and set a $22.00 target price on shares of The Hackett Group in a research note on Friday, June 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The Hackett Group currently has a consensus rating of Hold and a consensus target price of $22.00.

NASDAQ:HCKT opened at $16.97 on Thursday. The business has a 50 day moving average of $16.26 and a 200 day moving average of $16.24. The company has a market capitalization of $506.66 million, a price-to-earnings ratio of 16.01, a PEG ratio of 1.35 and a beta of 0.83. The Hackett Group has a 1-year low of $15.16 and a 1-year high of $22.84. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.78 and a quick ratio of 1.78.

The Hackett Group (NASDAQ:HCKT) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.23 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. The Hackett Group had a return on equity of 21.63% and a net margin of 6.80%. The firm had revenue of $73.50 million during the quarter, compared to the consensus estimate of $70.67 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts anticipate that The Hackett Group will post 0.87 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. Boston Partners grew its stake in The Hackett Group by 10.3% in the second quarter. Boston Partners now owns 241,147 shares of the business services provider’s stock worth $4,049,000 after purchasing an additional 22,562 shares during the period. Atria Investments LLC purchased a new stake in The Hackett Group in the second quarter worth $1,069,000. Royal Bank of Canada grew its stake in The Hackett Group by 16.4% in the second quarter. Royal Bank of Canada now owns 33,942 shares of the business services provider’s stock worth $570,000 after purchasing an additional 4,781 shares during the period. United Services Automobile Association grew its stake in The Hackett Group by 3.3% in the second quarter. United Services Automobile Association now owns 170,631 shares of the business services provider’s stock worth $2,865,000 after purchasing an additional 5,400 shares during the period. Finally, Nuveen Asset Management LLC purchased a new stake in The Hackett Group in the second quarter worth $4,727,000. 78.85% of the stock is currently 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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