The Hackett Group (NASDAQ:HCKT) Downgraded to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of The Hackett Group (NASDAQ:HCKT) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday, BidAskClub reports.

A number of other equities analysts have also recently issued reports on the company. TheStreet cut The Hackett Group from a b- rating to a c+ rating in a report on Wednesday, March 11th. Barrington Research cut their price objective on The Hackett Group from $20.00 to $18.00 and set an outperform rating for the company in a report on Wednesday, May 6th. Finally, Zacks Investment Research cut The Hackett Group from a hold rating to a sell rating in a report on Friday, June 26th. Two investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $18.33.

The Hackett Group stock opened at $13.53 on Tuesday. The Hackett Group has a 52 week low of $9.50 and a 52 week high of $18.90. The business has a 50-day simple moving average of $13.60 and a 200 day simple moving average of $14.58. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.05. The stock has a market cap of $405.58 million, a price-to-earnings ratio of 16.50, a PEG ratio of 2.35 and a beta of 0.70.

The Hackett Group (NASDAQ:HCKT) last posted its earnings results on Tuesday, May 5th. The business services provider reported $0.24 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. The Hackett Group had a return on equity of 18.83% and a net margin of 7.77%. The business had revenue of $69.53 million during the quarter, compared to analysts’ expectations of $71.27 million. On average, research analysts anticipate that The Hackett Group will post 0.43 earnings per share for the current year.

The business also recently announced a Semi-Annual dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be paid a $0.095 dividend. This represents a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, June 29th. The Hackett Group’s dividend payout ratio (DPR) is presently 48.10%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC lifted its stake in shares of The Hackett Group by 8.5% in the 1st quarter. Nuveen Asset Management LLC now owns 377,200 shares of the business services provider’s stock valued at $4,798,000 after acquiring an additional 29,414 shares during the last quarter. Mackenzie Financial Corp bought a new position in The Hackett Group during the 1st quarter valued at approximately $138,000. Two Sigma Advisers LP raised its position in The Hackett Group by 48.1% during the 1st quarter. Two Sigma Advisers LP now owns 154,904 shares of the business services provider’s stock valued at $1,970,000 after purchasing an additional 50,300 shares during the last quarter. Bank of New York Mellon Corp raised its position in The Hackett Group by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 283,551 shares of the business services provider’s stock valued at $3,606,000 after purchasing an additional 6,054 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in The Hackett Group by 99.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,566 shares of the business services provider’s stock valued at $96,000 after purchasing an additional 3,779 shares during the last quarter. 79.52% of the stock is owned by institutional investors.

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.

See Also: Liquidity

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