BidaskClub Downgrades The Hackett Group (NASDAQ:HCKT) to Hold

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

Several other brokerages have also issued reports on HCKT. Zacks Investment Research raised shares of The Hackett Group from a sell rating to a hold rating in a research note on Wednesday, April 24th. Barrington Research reissued a buy rating and set a $22.00 price objective on shares of The Hackett Group in a research note on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $22.50.

Shares of NASDAQ HCKT opened at $16.57 on Monday. The company has a market cap of $490.71 million, a price-to-earnings ratio of 15.63, a PEG ratio of 1.23 and a beta of 0.83. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.10. The Hackett Group has a 1 year low of $15.16 and a 1 year high of $22.84. The company has a 50-day simple moving average of $16.54.

The Hackett Group (NASDAQ:HCKT) last issued its earnings results on Tuesday, May 7th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $62.40 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. As a group, equities research analysts expect that The Hackett Group will post 0.9 EPS for the current year.

The company also recently disclosed a semiannual dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 28th will be paid a dividend of $0.18 per share. This is a positive change from The Hackett Group’s previous semiannual dividend of $0.17. The ex-dividend date of this dividend is Thursday, June 27th. This represents a yield of 2.17%. The Hackett Group’s dividend payout ratio (DPR) is presently 32.08%.

Institutional investors have recently added to or reduced their stakes in the stock. Crawford Investment Counsel Inc. bought a new position in The Hackett Group during the 1st quarter worth approximately $2,265,000. Martingale Asset Management L P boosted its stake in The Hackett Group by 6.6% during the 4th quarter. Martingale Asset Management L P now owns 115,212 shares of the business services provider’s stock worth $1,846,000 after acquiring an additional 7,092 shares during the last quarter. Cadence Capital Management LLC bought a new position in The Hackett Group during the 1st quarter worth approximately $2,436,000. FMR LLC boosted its stake in The Hackett Group by 65.0% during the 4th quarter. FMR LLC now owns 2,668,126 shares of the business services provider’s stock worth $42,716,000 after acquiring an additional 1,051,127 shares during the last quarter. Finally, United Services Automobile Association boosted its stake in The Hackett Group by 5.5% during the 4th quarter. United Services Automobile Association now owns 181,931 shares of the business services provider’s stock worth $2,913,000 after acquiring an additional 9,500 shares during the last quarter. 79.07% of the stock is currently owned by institutional investors and hedge funds.

The Hackett Group Company Profile

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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