The Hackett Group (NASDAQ:HCKT) Stock Price Expected to Rise, Craig Hallum Analyst Says

The Hackett Group (NASDAQ:HCKT - Get Free Report) had its price target boosted by equities researchers at Craig Hallum from $30.00 to $32.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the business services provider's stock. Craig Hallum's price target indicates a potential upside of 11.81% from the company's previous close.

A number of other brokerages have also issued reports on HCKT. Roth Capital lowered The Hackett Group from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 7th. Barrington Research restated an "outperform" rating and set a $28.00 price objective on shares of The Hackett Group in a report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, The Hackett Group presently has an average rating of "Moderate Buy" and a consensus price target of $30.00.

The Hackett Group Price Performance

Shares of HCKT traded up $4.27 during mid-day trading on Tuesday, hitting $28.62. The company's stock had a trading volume of 338,472 shares, compared to its average volume of 101,922. The Hackett Group has a fifty-two week low of $20.23 and a fifty-two week high of $28.68. The stock has a market capitalization of $791.26 million, a price-to-earnings ratio of 22.90, a PEG ratio of 1.35 and a beta of 0.91. The firm has a 50-day moving average price of $25.68 and a 200 day moving average price of $24.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 1.71.

The Hackett Group (NASDAQ:HCKT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.31 earnings per share (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 analyst estimates of $74.16 million. On average, research analysts predict that The Hackett Group will post 1.28 EPS for the current fiscal year.

Hedge Funds Weigh In On The Hackett Group

A number of large investors have recently made changes to their positions in the business. Isthmus Partners LLC grew its position in The Hackett Group by 1.1% during the second quarter. Isthmus Partners LLC now owns 164,195 shares of the business services provider's stock valued at $36,000 after purchasing an additional 1,763 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in shares of The Hackett Group in the third quarter worth $54,000. CWM LLC raised its holdings in shares of The Hackett Group by 78.4% during the second quarter. CWM LLC now owns 4,667 shares of the business services provider's stock worth $101,000 after acquiring an additional 2,051 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of The Hackett Group by 18.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,419 shares of the business services provider's stock worth $183,000 after acquiring an additional 1,283 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in The Hackett Group by 9.0% during the second quarter. The Manufacturers Life Insurance Company now owns 10,262 shares of the business services provider's stock valued at $223,000 after purchasing an additional 851 shares during the last quarter. Institutional investors and hedge funds own 78.12% of the company's stock.

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.