The Hackett Group (NASDAQ:HCKT) Downgraded by BidaskClub to Sell

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

Other equities research analysts have also issued reports about the company. Barrington Research reiterated a buy rating and issued a $22.00 price objective on shares of The Hackett Group in a research report on Friday, June 14th. Zacks Investment Research lowered The Hackett Group from a hold rating to a sell rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $22.00.

Shares of HCKT stock opened at $16.33 on Tuesday. The firm has a market cap of $487.61 million, a P/E ratio of 15.41, a P/E/G ratio of 1.25 and a beta of 0.81. The Hackett Group has a fifty-two week low of $15.16 and a fifty-two week high of $22.84. The business’s 50 day moving average price is $16.43 and its 200-day moving average price is $16.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.78 and a current ratio of 1.78.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.23 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.23. The firm had revenue of $73.50 million for the quarter, compared to analyst estimates of $70.67 million. The Hackett Group had a return on equity of 21.63% and a net margin of 6.80%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.27 EPS. As a group, equities analysts predict that The Hackett Group will post 0.87 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCKT. SG Americas Securities LLC bought a new stake in shares of The Hackett Group during the first quarter valued at approximately $120,000. Trigran Investments Inc. boosted its position in shares of The Hackett Group by 0.7% during the first quarter. Trigran Investments Inc. now owns 1,619,726 shares of the business services provider’s stock valued at $25,591,000 after purchasing an additional 11,873 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its position in shares of The Hackett Group by 1.0% during the first quarter. Punch & Associates Investment Management Inc. now owns 914,899 shares of the business services provider’s stock valued at $14,455,000 after purchasing an additional 9,259 shares in the last quarter. First Trust Advisors LP boosted its position in shares of The Hackett Group by 3.3% during the first quarter. First Trust Advisors LP now owns 57,964 shares of the business services provider’s stock valued at $916,000 after purchasing an additional 1,848 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its position in shares of The Hackett Group by 7.0% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 187,825 shares of the business services provider’s stock valued at $2,967,000 after purchasing an additional 12,318 shares in the last quarter. Institutional investors own 78.85% 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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