The Hackett Group (NASDAQ:HCKT) Downgraded to Buy Rating by StockNews.com

StockNews.com lowered shares of The Hackett Group (NASDAQ:HCKT) from a strong-buy rating to a buy rating in a research note published on Thursday.

A number of other research firms have also recently issued reports on HCKT. Craig Hallum raised their price objective on The Hackett Group from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Roth Mkm raised their price objective on The Hackett Group from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Barrington Research raised their price objective on The Hackett Group from $28.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

The Hackett Group Stock Performance

Shares of NASDAQ HCKT opened at $30.29 on Thursday. The stock has a 50 day moving average price of $30.71 and a 200 day moving average price of $28.70. The Hackett Group has a 52 week low of $20.23 and a 52 week high of $34.02. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a market capitalization of $835.79 million, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.53 and a beta of 0.99.

The Hackett Group (NASDAQ:HCKT) last released its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.06). The Hackett Group had a net margin of 9.44% and a return on equity of 36.40%. The business had revenue of $77.46 million during the quarter, compared to analyst estimates of $75.64 million. Analysts predict that The Hackett Group will post 1.43 earnings per share for the current fiscal year.

The Hackett Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.58%. This is a positive change from The Hackett Group’s previous quarterly dividend of $0.11. The Hackett Group’s dividend payout ratio (DPR) is 45.28%.

Hedge Funds Weigh In On The Hackett Group

A number of large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of The Hackett Group by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,393 shares of the business services provider’s stock worth $442,000 after purchasing an additional 503 shares during the period. Swiss National Bank increased its stake in shares of The Hackett Group by 1.4% during the fourth quarter. Swiss National Bank now owns 48,992 shares of the business services provider’s stock worth $1,505,000 after purchasing an additional 700 shares during the period. Versant Capital Management Inc increased its stake in shares of The Hackett Group by 353.1% during the fourth quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $29,000 after purchasing an additional 738 shares during the period. State of Wyoming increased its stake in shares of The Hackett Group by 3.9% during the fourth quarter. State of Wyoming now owns 19,821 shares of the business services provider’s stock worth $609,000 after purchasing an additional 747 shares during the period. Finally, Stifel Financial Corp increased its stake in The Hackett Group by 3.5% during the 4th quarter. Stifel Financial Corp now owns 23,789 shares of the business services provider’s stock worth $731,000 after acquiring an additional 800 shares during the period. Institutional investors own 78.12% of the company’s stock.

About The Hackett Group

The Hackett Group, Inc operates as an intellectual property-based executive advisory, strategic consulting, and digital transformation company in the United States, Europe, and internationally. The company operates through three segments: Global Strategy & Business Transformation, Oracle Solutions, and SAP Solutions.