Wall Street Zen Upgrades The Hackett Group (NASDAQ:HCKT) to Buy

The Hackett Group (NASDAQ:HCKT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

HCKT has been the topic of a number of other reports. Barrington Research lowered their price target on The Hackett Group from $27.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, February 18th. Roth Mkm set a $24.00 price objective on The Hackett Group in a report on Wednesday, February 18th. Zacks Research lowered The Hackett Group from a “hold” rating to a “strong sell” rating in a research report on Friday, February 20th. Finally, Weiss Ratings downgraded shares of The Hackett Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $20.50.

The Hackett Group Stock Performance

HCKT stock opened at $13.18 on Friday. The stock has a market capitalization of $334.51 million, a PE ratio of 28.04, a price-to-earnings-growth ratio of 0.87 and a beta of 1.06. The Hackett Group has a 12-month low of $12.76 and a 12-month high of $29.51. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.11. The stock’s 50 day simple moving average is $16.00 and its 200 day simple moving average is $18.14.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its holdings in The Hackett Group by 253.5% in the 1st quarter. Royal Bank of Canada now owns 32,776 shares of the business services provider’s stock worth $957,000 after purchasing an additional 23,503 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in The Hackett Group by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the business services provider’s stock valued at $439,000 after purchasing an additional 614 shares during the period. Jane Street Group LLC purchased a new stake in The Hackett Group in the first quarter worth about $1,379,000. Geode Capital Management LLC increased its position in The Hackett Group by 2.4% in the second quarter. Geode Capital Management LLC now owns 765,243 shares of the business services provider’s stock worth $19,455,000 after buying an additional 18,196 shares in the last quarter. Finally, Magnetar Financial LLC raised its stake in shares of The Hackett Group by 334.4% in the second quarter. Magnetar Financial LLC now owns 42,528 shares of the business services provider’s stock worth $1,081,000 after buying an additional 32,738 shares during the period. Hedge funds and other institutional investors own 78.12% of the company’s stock.

The Hackett Group Company Profile

The Hackett Group is a global strategic advisory firm specializing in business transformation, benchmarking and research. Leveraging a proprietary data repository and the Hackett Methodology®, the company helps organizations optimize performance across enterprise functions. Its advisory services span digital transformation, process optimization and operational excellence, enabling clients to identify best practices, streamline workflows and achieve sustainable cost savings.

Through detailed benchmarking studies and industry research, The Hackett Group delivers actionable insights into finance, procurement, human resources, information technology and supply chain management.