The Hackett Group’s (HCKT) “Outperform” Rating Reaffirmed at Barrington Research

The Hackett Group (NASDAQ:HCKT)‘s stock had its “outperform” rating reaffirmed by investment analysts at Barrington Research in a report issued on Wednesday, Benzinga reports. They presently have a $28.00 target price on the business services provider’s stock. Barrington Research’s price objective would suggest a potential upside of 13.41% from the stock’s previous close.

Separately, Roth Capital lowered The Hackett Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th.

The Hackett Group Stock Performance

Shares of NASDAQ HCKT opened at $24.69 on Wednesday. The company has a 50 day simple moving average of $25.75 and a two-hundred day simple moving average of $23.91. The stock has a market cap of $681.79 million, a price-to-earnings ratio of 19.60, a PEG ratio of 1.42 and a beta of 0.91. 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 Hackett Group has a 12 month low of $20.23 and a 12 month high of $27.68.

The Hackett Group (NASDAQ:HCKT) last posted its earnings results on Tuesday, August 6th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. The company had revenue of $75.90 million during the quarter, compared to the consensus estimate of $74.16 million. The Hackett Group had a net margin of 11.46% and a return on equity of 38.20%. As a group, analysts predict that The Hackett Group will post 1.28 earnings per share for the current year.

Institutional Investors Weigh In On The Hackett Group

Several hedge funds have recently modified their holdings of HCKT. Harbor Capital Advisors Inc. raised its holdings in The Hackett Group by 150.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 251,489 shares of the business services provider’s stock worth $6,607,000 after purchasing an additional 150,962 shares during the period. Farther Finance Advisors LLC increased its position in shares of The Hackett Group by 6,302.3% in the third quarter. Farther Finance Advisors LLC now owns 16,518 shares of the business services provider’s stock valued at $434,000 after buying an additional 16,260 shares in the last quarter. Pinnacle Associates Ltd. increased its position in shares of The Hackett Group by 47.1% in the third quarter. Pinnacle Associates Ltd. now owns 136,674 shares of the business services provider’s stock valued at $3,590,000 after buying an additional 43,775 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in shares of The Hackett Group during the 3rd quarter worth approximately $54,000. Finally, CWC Advisors LLC. purchased a new position in shares of The Hackett Group during the 3rd quarter valued at approximately $328,000. 78.12% of the stock is owned by hedge funds and other institutional investors.

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.