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

The Hackett Group, Inc. (NASDAQ:HCKT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, October 17th.

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. “

Separately, BidaskClub lowered The Hackett Group from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $19.00.

Shares of The Hackett Group (HCKT) traded up $0.06 during midday trading on Tuesday, hitting $15.02. The company had a trading volume of 34,494 shares, compared to its average volume of 89,277. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.22. The stock has a market cap of $433.62, a PE ratio of 19.68, a P/E/G ratio of 1.25 and a beta of 0.81. The Hackett Group has a 1 year low of $13.24 and a 1 year high of $20.69.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The Hackett Group had a return on equity of 27.74% and a net margin of 8.42%. The company had revenue of $73.60 million for the quarter, compared to analysts’ expectations of $74.36 million. During the same quarter last year, the company earned $0.24 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. analysts predict that The Hackett Group will post 0.8 EPS for the current year.

The Hackett Group announced that its Board of Directors has approved a share repurchase program on Tuesday, August 8th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 17% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

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A number of hedge funds have recently modified their holdings of HCKT. Copper Rock Capital Partners LLC purchased a new position in The Hackett Group during the second quarter worth approximately $24,638,000. Trigran Investments Inc. boosted its position in The Hackett Group by 484.9% during the second quarter. Trigran Investments Inc. now owns 641,337 shares of the business services provider’s stock worth $9,940,000 after purchasing an additional 531,681 shares in the last quarter. Renaissance Technologies LLC boosted its position in The Hackett Group by 68.7% during the first quarter. Renaissance Technologies LLC now owns 882,444 shares of the business services provider’s stock worth $17,199,000 after purchasing an additional 359,300 shares in the last quarter. Boston Partners boosted its position in The Hackett Group by 192.8% during the third quarter. Boston Partners now owns 545,482 shares of the business services provider’s stock worth $8,286,000 after purchasing an additional 359,182 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in The Hackett Group during the second quarter worth approximately $3,781,000. Institutional investors own 75.35% of the company’s stock.

About The Hackett Group

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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