Barrington Research Reiterates “Outperform” Rating for The Hackett Group (NASDAQ:HCKT)

The Hackett Group (NASDAQ:HCKT)‘s stock had its “outperform” rating reiterated by equities researchers at Barrington Research in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $28.00 price objective on the business services provider’s stock. Barrington Research’s target price would suggest a potential upside of 5.34% from the stock’s previous close.

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

The Hackett Group Price Performance

Shares of HCKT opened at $26.58 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a market cap of $733.98 million, a PE ratio of 21.10, a PEG ratio of 1.40 and a beta of 0.91. The firm’s 50 day moving average price is $25.46 and its 200 day moving average price is $23.59. The Hackett Group has a twelve month low of $20.23 and a twelve month high of $27.68.

The Hackett Group (NASDAQ:HCKT) last announced 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 company had revenue of $75.90 million for the quarter, compared to analyst estimates of $74.16 million. As a group, research analysts expect that The Hackett Group will post 1.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HCKT. Vanguard Group Inc. boosted its holdings in The Hackett Group by 3.2% during the first quarter. Vanguard Group Inc. now owns 1,995,053 shares of the business services provider’s stock valued at $48,480,000 after acquiring an additional 61,635 shares during the period. Renaissance Technologies LLC boosted its stake in The Hackett Group by 0.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,053,446 shares of the business services provider’s stock valued at $22,881,000 after purchasing an additional 6,600 shares during the period. Earnest Partners LLC boosted its stake in The Hackett Group by 13.1% during the 1st quarter. Earnest Partners LLC now owns 488,606 shares of the business services provider’s stock valued at $11,873,000 after purchasing an additional 56,635 shares during the period. Wells Fargo & Company MN grew its holdings in The Hackett Group by 1.5% in the 4th quarter. Wells Fargo & Company MN now owns 337,382 shares of the business services provider’s stock valued at $7,682,000 after buying an additional 4,839 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in The Hackett Group by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 256,795 shares of the business services provider’s stock worth $5,847,000 after buying an additional 2,299 shares during the period. 78.12% of the stock is currently owned by institutional investors and hedge funds.

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.