Shares of The Hackett Group, Inc. (NASDAQ:HCKT) have been given a consensus recommendation of “Buy” by the seven brokerages that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $19.25.
HCKT has been the topic of several analyst reports. Roth Capital downgraded shares of The Hackett Group from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a report on Wednesday, May 10th. SunTrust Banks, Inc. initiated coverage on shares of The Hackett Group in a report on Thursday, June 15th. They set a “buy” rating and a $19.00 price target on the stock. BidaskClub upgraded shares of The Hackett Group from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research downgraded shares of The Hackett Group from a “hold” rating to a “strong sell” rating in a report on Monday, May 15th. Finally, Craig Hallum downgraded shares of The Hackett Group from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a report on Wednesday, May 10th.
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in The Hackett Group by 8.8% in the first quarter. Vanguard Group Inc. now owns 1,618,720 shares of the business services provider’s stock valued at $31,549,000 after buying an additional 131,226 shares during the period. Copper Rock Capital Partners LLC purchased a new stake in The Hackett Group during the second quarter valued at $24,638,000. Hosking Partners LLP increased its stake in The Hackett Group by 8.4% in the first quarter. Hosking Partners LLP now owns 1,109,383 shares of the business services provider’s stock valued at $21,622,000 after buying an additional 86,338 shares during the period. Renaissance Technologies LLC increased its stake in The Hackett Group by 68.7% in the first quarter. Renaissance Technologies LLC now owns 882,444 shares of the business services provider’s stock valued at $17,199,000 after buying an additional 359,300 shares during the period. Finally, Acadian Asset Management LLC increased its stake in The Hackett Group by 23.7% in the first quarter. Acadian Asset Management LLC now owns 874,967 shares of the business services provider’s stock valued at $17,053,000 after buying an additional 167,388 shares during the period. Institutional investors own 81.75% of the company’s stock.
The Hackett Group (HCKT) traded up 0.63% during mid-day trading on Friday, hitting $15.93. 136,495 shares of the stock were exchanged. The company’s 50-day moving average price is $15.86 and its 200 day moving average price is $17.23. The Hackett Group has a 52 week low of $13.80 and a 52 week high of $20.69. The firm has a market capitalization of $465.46 million, a price-to-earnings ratio of 20.69 and a beta of 0.78.
The Hackett Group (NASDAQ:HCKT) last posted its earnings results on Tuesday, May 9th. The business services provider reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. The Hackett Group had a net margin of 8.60% and a return on equity of 28.73%. The firm had revenue of $71.50 million for the quarter, compared to the consensus estimate of $72.98 million. During the same period in the previous year, the firm posted $0.20 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts expect that The Hackett Group will post $0.99 EPS for the current year.
The company also recently declared a semiannual dividend, which was paid on Tuesday, July 11th. Investors of record on Friday, June 30th were issued a dividend of $0.15 per share. This represents a yield of 1.94%. This is an increase from The Hackett Group’s previous semiannual dividend of $0.13. The ex-dividend date was Wednesday, June 28th. The Hackett Group’s dividend payout ratio is presently 38.96%.
The Hackett Group declared that its Board of Directors has approved a stock repurchase plan on Monday, May 15th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase up to 1.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
COPYRIGHT VIOLATION NOTICE: “Brokerages Set The Hackett Group, Inc. (HCKT) Price Target at $19.25” was first posted by BNB Daily and is the sole property of of BNB Daily. If you are accessing this story on another publication, it was stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.baseball-news-blog.com/2017/08/19/brokerages-set-the-hackett-group-inc-hckt-price-target-at-19-25-updated.html.
About The Hackett Group
The Hackett Group, Inc is an advisory and technology consulting company. The Company’s services include business transformation, enterprise performance management, working capital management and global business services. The Company is engaged in providing business and technology consulting services.
Receive News & Ratings for The Hackett Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hackett Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.