The Hackett Group (NASDAQ:HCKT) Shares Gap Up Following Analyst Upgrade

Shares of The Hackett Group, Inc. (NASDAQ:HCKT - Get Free Report) gapped up prior to trading on Tuesday after Roth Mkm raised their price target on the stock from $29.00 to $30.00. The stock had previously closed at $24.35, but opened at $27.60. Roth Mkm currently has a buy rating on the stock. The Hackett Group shares last traded at $27.28, with a volume of 25,015 shares changing hands.

A number of other equities analysts also recently commented on HCKT. Roth Capital downgraded shares of The Hackett Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 7th. Craig Hallum upped their price objective on The Hackett Group from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Barrington Research reiterated an "outperform" rating and issued a $28.00 price objective on shares of The Hackett Group in a report on Tuesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $30.00.

Institutional Trading of The Hackett Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new stake in The Hackett Group during the 3rd quarter worth $54,000. CWM LLC boosted its stake 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 buying an additional 2,051 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew 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 buying an additional 1,283 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of 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 worth $223,000 after buying an additional 851 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in The Hackett Group in the 3rd quarter valued at about $321,000. Institutional investors and hedge funds own 78.12% of the company's stock.

The Hackett Group Trading Up 17.5 %

The company has a 50 day simple moving average of $25.68 and a 200 day simple moving average of $24.00. The stock has a market capitalization of $791.26 million, a PE ratio of 22.90, a P/E/G ratio of 1.35 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 (NASDAQ:HCKT - Get Free Report) last released 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 return on equity of 38.20% and a net margin of 11.46%. The business had revenue of $75.90 million during the quarter, compared to analysts' expectations of $74.16 million. Analysts predict that The Hackett Group, Inc. will post 1.28 earnings per share for the current fiscal year.

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.