The Hackett Group (NASDAQ:HCKT) to Repurchase $5.00 million in Stock

The Hackett Group (NASDAQ:HCKT) announced that its board has approved a share repurchase program, which authorizes the company to repurchase $5.00 million in shares on Tuesday, August 8th, EventVestor reports. This repurchase authorization authorizes the business services provider to repurchase up to 17% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

A number of research firms recently commented on HCKT. Craig Hallum cut shares of The Hackett Group from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research note on Wednesday, May 10th. Roth Capital cut shares of The Hackett Group from a “buy” rating to a “neutral” rating and set a $20.00 target price for the company. in a research note on Wednesday, May 10th. Zacks Investment Research cut shares of The Hackett Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 25th. BidaskClub upgraded shares of The Hackett Group from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, SunTrust Banks, Inc. started coverage on shares of The Hackett Group in a research note on Thursday, June 15th. They set a “buy” rating and a $19.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The Hackett Group has an average rating of “Hold” and a consensus price target of $20.00.

Shares of The Hackett Group (NASDAQ:HCKT) traded up 0.07% during mid-day trading on Friday, reaching $13.52. 102,557 shares of the company’s stock traded hands. The Hackett Group has a one year low of $13.24 and a one year high of $20.69. The firm has a market cap of $390.31 million, a price-to-earnings ratio of 18.00 and a beta of 0.78. The firm’s 50-day moving average is $15.51 and its 200 day moving average is $17.03.

The Hackett Group (NASDAQ:HCKT) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.02. The Hackett Group had a return on equity of 27.74% and a net margin of 8.42%. The business had revenue of $73.60 million for the quarter, compared to analyst estimates of $74.36 million. During the same quarter last year, the firm posted $0.24 EPS. The company’s revenue was down 2.6% compared to the same quarter last year. Analysts predict that The Hackett Group will post $0.97 earnings per share for the current year.

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The Hackett Group Company Profile

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.

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