StockNews.com upgraded shares of The Hackett Group (NASDAQ:HCKT - Free Report) from a buy rating to a strong-buy rating in a report released on Wednesday.
Separately, Barrington Research raised their price target on The Hackett Group from $28.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $32.67.
Check Out Our Latest Report on HCKT
The Hackett Group Price Performance
HCKT stock traded down $1.29 during midday trading on Wednesday, hitting $25.86. 75,578 shares of the stock were exchanged, compared to its average volume of 108,645. The stock's 50-day moving average price is $30.00 and its 200-day moving average price is $29.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a market cap of $718.65 million, a price-to-earnings ratio of 24.39, a PEG ratio of 1.53 and a beta of 0.98. The Hackett Group has a fifty-two week low of $20.23 and a fifty-two week high of $34.02.
The Hackett Group (NASDAQ:HCKT - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.06). The firm had revenue of $77.46 million for the quarter, compared to analyst estimates of $75.64 million. The Hackett Group had a return on equity of 36.40% and a net margin of 9.44%. Research analysts predict that The Hackett Group will post 1.43 earnings per share for the current year.
The Hackett Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were paid a $0.12 dividend. This is a boost from The Hackett Group's previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.86%. The ex-dividend date was Friday, March 21st. The Hackett Group's payout ratio is presently 45.28%.
Institutional Investors Weigh In On The Hackett Group
Several hedge funds have recently made changes to their positions in HCKT. Vanguard Group Inc. increased its stake in The Hackett Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 2,186,611 shares of the business services provider's stock valued at $67,173,000 after purchasing an additional 16,682 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of The Hackett Group by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 716,072 shares of the business services provider's stock worth $22,002,000 after acquiring an additional 15,819 shares during the period. State Street Corp boosted its position in shares of The Hackett Group by 4.1% in the third quarter. State Street Corp now owns 641,783 shares of the business services provider's stock worth $16,927,000 after acquiring an additional 25,249 shares during the last quarter. Boston Partners grew its holdings in The Hackett Group by 2.9% in the fourth quarter. Boston Partners now owns 525,435 shares of the business services provider's stock valued at $16,086,000 after purchasing an additional 14,676 shares during the period. Finally, Wellington Management Group LLP increased its position in The Hackett Group by 5.2% during the fourth quarter. Wellington Management Group LLP now owns 393,291 shares of the business services provider's stock worth $12,082,000 after purchasing an additional 19,300 shares during the last quarter. Institutional investors and hedge funds own 78.12% of the company's stock.
About The Hackett Group
(
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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.
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