Zacks Investment Research upgraded shares of The Hackett Group (NASDAQ:HCKT – Get Rating) from a hold rating to a buy rating in a report issued on Thursday morning, Zacks.com reports. They currently have $22.00 price objective on the business services provider’s stock.
According to Zacks, “The Hackett Group, a global strategic advisory firm and an Answerthink company, is a leader in best practice research and advisory programs, benchmarking and transformation consulting services, including shared services, offshoring and outsourcing advice. Utilizing best practices and implementation insight from more than 4,000 benchmarking studies, executives use Hackett’s empirically based approach to quickly define and prioritize initiatives, and to leverage proven strategies that enable world-class performance. “
A number of other brokerages have also weighed in on HCKT. Barrington Research began coverage on shares of The Hackett Group in a report on Wednesday, May 11th. They set a buy rating and a $26.00 price objective on the stock. StockNews.com started coverage on shares of The Hackett Group in a research report on Thursday, March 31st. They issued a strong-buy rating for the company. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $24.75.
The Hackett Group (NASDAQ:HCKT – Get Rating) last announced its quarterly earnings data on Tuesday, February 22nd. The business services provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $69.78 million for the quarter, compared to analyst estimates of $65.85 million. The Hackett Group had a net margin of 15.70% and a return on equity of 25.72%. During the same period in the previous year, the company earned $0.16 earnings per share. On average, analysts forecast that The Hackett Group will post 1.14 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Friday, June 24th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, June 23rd. This represents a $0.44 annualized dividend and a dividend yield of 2.20%. The Hackett Group’s dividend payout ratio (DPR) is presently 31.43%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its position in shares of The Hackett Group by 6.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 41,377 shares of the business services provider’s stock worth $954,000 after purchasing an additional 2,418 shares during the last quarter. Earnest Partners LLC raised its position in shares of The Hackett Group by 7.2% during the 1st quarter. Earnest Partners LLC now owns 480,161 shares of the business services provider’s stock worth $11,073,000 after purchasing an additional 32,213 shares during the last quarter. UBS Group AG grew its stake in The Hackett Group by 17.1% during the 1st quarter. UBS Group AG now owns 18,178 shares of the business services provider’s stock valued at $419,000 after acquiring an additional 2,655 shares in the last quarter. Crawford Investment Counsel Inc. grew its stake in The Hackett Group by 5.7% during the 1st quarter. Crawford Investment Counsel Inc. now owns 450,123 shares of the business services provider’s stock valued at $10,380,000 after acquiring an additional 24,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in The Hackett Group by 149.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 162,902 shares of the business services provider’s stock valued at $3,757,000 after acquiring an additional 97,633 shares in the last quarter. Hedge funds and other institutional investors own 74.11% of the company’s stock.
The Hackett Group Company Profile (Get Rating)
The Hackett Group, Inc operates as a strategic advisory and technology consulting firm primarily in North America and internationally. It offers best practice intelligence center, an online searchable repository; best practice accelerators that provide web-based access to best practices, customized software configuration tools, and best practice process flows; advisor inquiry for access to fact-based advice on proven approaches and methods; best practice 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, as well as intellectual property as-a-service and Hackett Institute programs.
- Get a free copy of the StockNews.com research report on The Hackett Group (HCKT)
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