The Hackett Group (NASDAQ:HCKT) Raised to Buy at BidaskClub

BidaskClub upgraded shares of The Hackett Group (NASDAQ:HCKT) from a hold rating to a buy rating in a research note published on Friday, BidAskClub reports.

A number of other equities analysts also recently issued reports on the company. TheStreet downgraded The Hackett Group from a b rating to a c+ rating in a research note on Tuesday, December 3rd. Barrington Research cut their target price on The Hackett Group from $22.00 to $20.00 and set an outperform rating for the company in a research note on Wednesday, November 6th. Finally, Zacks Investment Research raised The Hackett Group from a sell rating to a hold rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The Hackett Group has an average rating of Buy and a consensus price target of $20.00.

Shares of HCKT stock opened at $17.07 on Friday. The company has a market cap of $510.24 million, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. The stock has a 50 day simple moving average of $15.99 and a 200-day simple moving average of $16.21. The Hackett Group has a 12-month low of $14.53 and a 12-month high of $19.57. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.06.

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

The company also recently declared a Semi-Annual dividend, which was paid on Tuesday, January 7th. Investors of record on Friday, December 20th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, December 19th. This represents a dividend yield of 2.4%. This is a boost from The Hackett Group’s previous Semi-Annual dividend of $0.17. The Hackett Group’s dividend payout ratio is currently 33.96%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its holdings in shares of The Hackett Group by 1,586.6% in the 3rd quarter. Millennium Management LLC now owns 269,118 shares of the business services provider’s stock worth $4,429,000 after acquiring an additional 253,162 shares during the period. Man Group plc grew its holdings in The Hackett Group by 5.9% during the 3rd quarter. Man Group plc now owns 111,054 shares of the business services provider’s stock valued at $1,828,000 after buying an additional 6,200 shares during the last quarter. Squarepoint Ops LLC grew its holdings in The Hackett Group by 22.4% during the 3rd quarter. Squarepoint Ops LLC now owns 87,716 shares of the business services provider’s stock valued at $1,444,000 after buying an additional 16,080 shares during the last quarter. Zebra Capital Management LLC acquired a new stake in The Hackett Group during the 3rd quarter valued at $251,000. Finally, Eqis Capital Management Inc. grew its holdings in The Hackett Group by 39.3% during the 3rd quarter. Eqis Capital Management Inc. now owns 18,603 shares of the business services provider’s stock valued at $306,000 after buying an additional 5,247 shares during the last quarter. Institutional investors and hedge funds own 78.53% 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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