The Hackett Group (NASDAQ:HCKT) Cut to Sell at BidaskClub

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

A number of other analysts have also recently commented on the stock. Zacks Investment Research cut shares of GenMark Diagnostics from a hold rating to a sell rating in a research note on Wednesday, April 24th. Barrington Research restated a buy rating and set a $22.00 price target on shares of The Hackett Group in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $22.50.

HCKT opened at $16.69 on Thursday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $496.36 million, a PE ratio of 19.64, a price-to-earnings-growth ratio of 1.24 and a beta of 0.82. The Hackett Group has a twelve month low of $15.16 and a twelve month high of $22.84. The company has a 50-day moving average of $16.64.

The Hackett Group (NASDAQ:HCKT) last released its earnings results on Tuesday, May 7th. The business services provider reported $0.17 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.17. The firm had revenue of $62.40 million for the quarter, compared to analysts’ expectations of $65.99 million. The Hackett Group had a net margin of 8.35% and a return on equity of 21.76%. The company’s quarterly revenue was down 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share. On average, sell-side analysts expect that The Hackett Group will post 0.9 EPS for the current year.

The firm also recently declared a semiannual dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were paid a dividend of $0.18 per share. This is a boost from The Hackett Group’s previous semiannual dividend of $0.17. This represents a dividend yield of 2.17%. The ex-dividend date was Thursday, June 27th. The Hackett Group’s dividend payout ratio is presently 33.96%.

Several hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc lifted its stake in shares of The Hackett Group by 15.9% during the 4th quarter. Legal & General Group Plc now owns 4,383 shares of the business services provider’s stock valued at $71,000 after buying an additional 600 shares in the last quarter. Financial Advocates Investment Management lifted its stake in shares of The Hackett Group by 7.7% during the 4th quarter. Financial Advocates Investment Management now owns 9,008 shares of the business services provider’s stock valued at $202,000 after buying an additional 643 shares in the last quarter. Citigroup Inc. lifted its stake in shares of The Hackett Group by 17.4% during the 4th quarter. Citigroup Inc. now owns 7,804 shares of the business services provider’s stock valued at $125,000 after buying an additional 1,154 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of The Hackett Group by 0.9% during the 4th quarter. Nordea Investment Management AB now owns 144,800 shares of the business services provider’s stock valued at $2,318,000 after buying an additional 1,300 shares in the last quarter. Finally, Stone Ridge Asset Management LLC lifted its stake in The Hackett Group by 3.4% in the 4th quarter. Stone Ridge Asset Management LLC now owns 45,130 shares of the business services provider’s stock worth $723,000 after purchasing an additional 1,477 shares in the last quarter. Institutional investors own 79.07% of the company’s stock.

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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