The Hackett Group (NASDAQ:HCKT) Lifted to “Buy” at StockNews.com

The Hackett Group (NASDAQ:HCKT – Get Rating) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Saturday.

HCKT has been the subject of several other research reports. Craig Hallum downgraded shares of The Hackett Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $30.00 to $25.00 in a report on Wednesday, February 22nd. Barrington Research lowered their target price on shares of The Hackett Group from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, February 23rd.

The Hackett Group Stock Performance

HCKT opened at $18.24 on Friday. The company has a current ratio of 1.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.02. The company’s fifty day moving average price is $20.90 and its two-hundred day moving average price is $20.74. The Hackett Group has a 1-year low of $17.60 and a 1-year high of $24.78. The company has a market cap of $495.76 million, a price-to-earnings ratio of 14.25, a PEG ratio of 1.02 and a beta of 0.87.

The Hackett Group (NASDAQ:HCKT – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The business services provider reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The Hackett Group had a net margin of 13.89% and a return on equity of 28.86%. The firm had revenue of $70.12 million for the quarter, compared to the consensus estimate of $67.05 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. On average, analysts expect that The Hackett Group will post 1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On The Hackett Group

Several institutional investors have recently added to or reduced their stakes in HCKT. Greenwood Capital Associates LLC boosted its position in The Hackett Group by 2.8% during the fourth quarter. Greenwood Capital Associates LLC now owns 17,915 shares of the business services provider’s stock worth $365,000 after purchasing an additional 490 shares during the period. Martingale Asset Management L P boosted its position in The Hackett Group by 0.6% during the fourth quarter. Martingale Asset Management L P now owns 84,674 shares of the business services provider’s stock worth $1,725,000 after purchasing an additional 510 shares during the period. BNP Paribas Arbitrage SA boosted its position in The Hackett Group by 1.4% during the second quarter. BNP Paribas Arbitrage SA now owns 41,951 shares of the business services provider’s stock worth $796,000 after purchasing an additional 574 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in The Hackett Group by 6.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,682 shares of the business services provider’s stock worth $238,000 after purchasing an additional 676 shares during the period. Finally, California State Teachers Retirement System boosted its position in The Hackett Group by 2.2% during the third quarter. California State Teachers Retirement System now owns 32,429 shares of the business services provider’s stock worth $575,000 after purchasing an additional 705 shares during the period. Institutional investors own 76.62% of the company’s stock.

About The Hackett Group

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The Hackett Group, Inc engages in the provision of business and technology consulting services. The firm’s services include benchmarking, executive advisory, business transformation, enterprise performance management, training and advisory to global business services. It also produces digital transformation including robotic process automation and enterprise cloud application implementation.