The Hackett Group (NASDAQ:HCKT) Downgraded to “Buy” Rating by StockNews.com

StockNews.com lowered shares of The Hackett Group (NASDAQ:HCKT) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning.

Separately, Barrington Research boosted their price target on The Hackett Group from $28.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, The Hackett Group currently has an average rating of “Moderate Buy” and an average target price of $32.67.

The Hackett Group Stock Down 1.1 %

Shares of NASDAQ:HCKT opened at $28.16 on Thursday. The Hackett Group has a 1 year low of $20.23 and a 1 year high of $34.02. The business has a 50 day simple moving average of $30.41 and a two-hundred day simple moving average of $28.94. The firm has a market capitalization of $782.59 million, a PE ratio of 26.57, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.51 and a quick ratio of 1.51.

The Hackett Group (NASDAQ:HCKT) last announced its earnings results on Tuesday, February 18th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.06). The Hackett Group had a net margin of 9.44% and a return on equity of 36.40%. The business had revenue of $77.46 million for the quarter, compared to analysts’ expectations of $75.64 million. On average, equities analysts predict that The Hackett Group will post 1.43 EPS for the current year.

The Hackett Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 21st will be issued a $0.12 dividend. This is a positive change from The Hackett Group’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.70%. The Hackett Group’s payout ratio is presently 45.28%.

Institutional Trading of The Hackett Group

A number of large investors have recently modified their holdings of HCKT. Versant Capital Management Inc lifted its holdings in The Hackett Group by 353.1% during the fourth quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $29,000 after buying an additional 738 shares during the period. Quantbot Technologies LP lifted its holdings in The Hackett Group by 383.4% during the third quarter. Quantbot Technologies LP now owns 2,741 shares of the business services provider’s stock worth $72,000 after buying an additional 2,174 shares during the period. Longboard Asset Management LP purchased a new stake in The Hackett Group during the fourth quarter worth $207,000. ProShare Advisors LLC purchased a new stake in The Hackett Group during the fourth quarter worth $219,000. Finally, Arizona State Retirement System purchased a new stake in The Hackett Group during the fourth quarter worth $221,000. Hedge funds and other institutional investors own 78.12% of the company’s stock.

About The Hackett Group

The Hackett Group, Inc operates as an intellectual property-based executive advisory, strategic consulting, and digital transformation company in the United States, Europe, and internationally. The company operates through three segments: Global Strategy & Business Transformation, Oracle Solutions, and SAP Solutions.