Barrington Research Trims The Hackett Group (NASDAQ:HCKT) Target Price to $20.00

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The Hackett Group (NASDAQ:HCKT) had its price objective reduced by Barrington Research from $22.00 to $20.00 in a research report report published on Wednesday morning, The Fly reports. They currently have an outperform rating on the business services provider’s stock.

A number of other brokerages also recently weighed in on HCKT. Zacks Investment Research raised shares of The Hackett Group from a sell rating to a hold rating in a research report on Wednesday, October 9th. BidaskClub raised shares of The Hackett Group from a sell rating to a hold rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $20.00.

Shares of NASDAQ:HCKT traded up $0.02 during midday trading on Wednesday, hitting $15.30. 69,400 shares of the company’s stock traded hands, compared to its average volume of 111,581. The company has a market cap of $525.47 million, a PE ratio of 14.43, a P/E/G ratio of 1.40 and a beta of 0.77. The firm’s fifty day moving average price is $16.52 and its two-hundred day moving average price is $16.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.78 and a current ratio of 1.78. The Hackett Group has a twelve month low of $14.53 and a twelve month high of $19.57.

The Hackett Group (NASDAQ:HCKT) last issued its earnings results on Tuesday, November 5th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $72.64 million during the quarter, compared to analyst estimates of $73.16 million. The Hackett Group had a net margin of 7.45% and a return on equity of 21.76%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 EPS. As a group, equities research analysts anticipate that The Hackett Group will post 0.87 EPS for the current fiscal year.

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 20th will be given a dividend of $0.18 per share. This represents a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, December 19th. This is an increase from The Hackett Group’s previous Semi-Annual dividend of $0.17. The Hackett Group’s dividend payout ratio is currently 33.96%.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in The Hackett Group by 21.6% in the 2nd quarter. BlackRock Inc. now owns 2,626,276 shares of the business services provider’s stock worth $44,096,000 after purchasing an additional 466,793 shares during the last quarter. Wasatch Advisors Inc. lifted its stake in shares of The Hackett Group by 36.4% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,490,198 shares of the business services provider’s stock worth $25,020,000 after acquiring an additional 397,529 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of The Hackett Group in the 2nd quarter worth approximately $4,727,000. Marshall Wace LLP acquired a new stake in shares of The Hackett Group in the 2nd quarter worth approximately $4,716,000. Finally, Keeley Teton Advisors LLC lifted its stake in shares of The Hackett Group by 297.2% in the 2nd quarter. Keeley Teton Advisors LLC now owns 363,250 shares of the business services provider’s stock worth $6,099,000 after acquiring an additional 271,800 shares during the period. 79.35% of the stock is owned by institutional investors and hedge funds.

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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