The Hackett Group (NASDAQ:HCKT) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of The Hackett Group (NASDAQ:HCKT) from a sell rating to a hold rating in a research note released 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. “

A number of other research firms have also recently commented on HCKT. BidaskClub cut shares of The Hackett Group from a hold rating to a sell rating in a research note on Saturday. Barrington Research reduced their price objective on shares of The Hackett Group from $22.00 to $20.00 and set an outperform rating on the stock in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The Hackett Group currently has an average rating of Hold and a consensus target price of $20.00.

Shares of HCKT opened at $15.25 on Monday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average of $15.96 and a 200 day moving average of $16.35. The company has a market cap of $458.32 million, a PE ratio of 14.39, a P/E/G ratio of 1.34 and a beta of 0.67. The Hackett Group has a 52-week low of $14.53 and a 52-week high of $19.57.

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

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

Several hedge funds have recently modified their holdings of HCKT. First Trust Advisors LP boosted its holdings in The Hackett Group by 3.3% during the 1st quarter. First Trust Advisors LP now owns 57,964 shares of the business services provider’s stock valued at $916,000 after acquiring an additional 1,848 shares during the period. Amundi Pioneer Asset Management Inc. grew its position in The Hackett Group by 7.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 187,825 shares of the business services provider’s stock valued at $2,967,000 after acquiring an additional 12,318 shares during the last quarter. Dupont Capital Management Corp grew its position in The Hackett Group by 272.7% in the 2nd quarter. Dupont Capital Management Corp now owns 73,448 shares of the business services provider’s stock valued at $1,233,000 after acquiring an additional 53,742 shares during the last quarter. Aperio Group LLC purchased a new stake in The Hackett Group in the second quarter worth $173,000. Finally, Yorktown Management & Research Co Inc increased its stake in The Hackett Group by 6.7% in the second quarter. Yorktown Management & Research Co Inc now owns 49,290 shares of the business services provider’s stock worth $828,000 after purchasing an additional 3,078 shares during the period. 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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