The Hackett Group (NASDAQ:HCKT) Shares Gap Up Following Analyst Upgrade

The Hackett Group, Inc. (NASDAQ:HCKT) gapped up before the market opened on Tuesday after Roth Mkm raised their price target on the stock from $29.00 to $30.00. The stock had previously closed at $24.35, but opened at $27.60. Roth Mkm currently has a buy rating on the stock. The Hackett Group shares last traded at $27.28, with a volume of 25,015 shares changing hands.

Several other equities research analysts have also weighed in on HCKT. Craig Hallum lifted their price objective on The Hackett Group from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday. Roth Capital downgraded shares of The Hackett Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Barrington Research reissued an “outperform” rating and issued a $28.00 price target on shares of The Hackett Group in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its holdings in shares of The Hackett Group by 18.1% in the 3rd quarter. Victory Capital Management Inc. now owns 16,414 shares of the business services provider’s stock worth $431,000 after buying an additional 2,512 shares during the last quarter. Aptus Capital Advisors LLC grew its position in The Hackett Group by 15.6% in the third quarter. Aptus Capital Advisors LLC now owns 178,299 shares of the business services provider’s stock worth $4,684,000 after acquiring an additional 24,106 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in The Hackett Group by 150.2% in the third quarter. Harbor Capital Advisors Inc. now owns 251,489 shares of the business services provider’s stock valued at $6,607,000 after acquiring an additional 150,962 shares during the last quarter. Farther Finance Advisors LLC raised its position in The Hackett Group by 6,302.3% during the third quarter. Farther Finance Advisors LLC now owns 16,518 shares of the business services provider’s stock valued at $434,000 after purchasing an additional 16,260 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its stake in The Hackett Group by 47.1% during the third quarter. Pinnacle Associates Ltd. now owns 136,674 shares of the business services provider’s stock worth $3,590,000 after purchasing an additional 43,775 shares during the last quarter. 78.12% of the stock is currently owned by institutional investors.

The Hackett Group Price Performance

The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $791.26 million, a PE ratio of 22.90, a PEG ratio of 1.35 and a beta of 0.91. The business has a fifty day moving average price of $25.68 and a 200-day moving average price of $24.00.

The Hackett Group (NASDAQ:HCKT) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The Hackett Group had a net margin of 11.46% and a return on equity of 38.20%. The firm had revenue of $75.90 million for the quarter, compared to the consensus estimate of $74.16 million. Research analysts expect that The Hackett Group, Inc. will post 1.28 EPS for the current fiscal year.

The Hackett Group Company Profile

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.