The Hackett Group (NASDAQ:HCKT) Raised to “Hold” at Zacks Investment Research

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The Hackett Group (NASDAQ:HCKT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports.

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. “

Several other research analysts have also issued reports on HCKT. BidaskClub lowered The Hackett Group from a “hold” rating to a “sell” rating in a research report on Saturday. Barrington Research lowered their target price on The Hackett Group from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $20.00.

NASDAQ:HCKT traded down $0.08 during trading hours on Monday, hitting $15.25. 145,517 shares of the company were exchanged, compared to its average volume of 110,677. The stock has a market capitalization of $458.32 million, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 1.34 and a beta of 0.67. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.06. The Hackett Group has a one year low of $14.53 and a one year high of $19.57. The company has a fifty day simple moving average of $15.96 and a 200 day simple moving average of $16.35.

The Hackett Group (NASDAQ:HCKT) last announced its earnings results on Tuesday, November 5th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The company had revenue of $72.64 million for the quarter, compared to the consensus estimate of $73.16 million. The Hackett Group had a return on equity of 21.32% and a net margin of 7.45%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 earnings per share. Equities research analysts predict that The Hackett Group will post 0.85 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of HCKT. BlackRock Inc. raised its position in shares of 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 acquiring an additional 466,793 shares in the last quarter. Wasatch Advisors Inc. raised its position 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 in the last quarter. Nuveen Asset Management LLC bought a new position in shares of The Hackett Group in the 2nd quarter worth about $4,727,000. Marshall Wace LLP bought a new position in shares of The Hackett Group in the 2nd quarter worth about $4,716,000. Finally, Keeley Teton Advisors LLC raised its position 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 in the last quarter. 78.56% of the stock is owned by hedge funds and other 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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