The Hackett Group (NASDAQ:HCKT) Downgraded to Buy Rating by StockNews.com

StockNews.com downgraded shares of The Hackett Group (NASDAQ:HCKT - Free Report) from a strong-buy rating to a buy rating in a research note released on Thursday morning.

Separately, Barrington Research increased their target price on The Hackett Group from $28.00 to $36.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. One investment 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 stock currently has a consensus rating of "Moderate Buy" and an average price target of $32.67.

The Hackett Group Trading Up 0.6 %

NASDAQ HCKT traded up $0.17 during trading hours on Thursday, reaching $26.53. The company had a trading volume of 3,412 shares, compared to its average volume of 110,510. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $737.30 million, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.98. The stock has a 50-day moving average of $29.24 and a 200 day moving average of $29.29. The Hackett Group has a 1-year low of $20.23 and a 1-year high of $34.02.

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The Hackett Group (NASDAQ:HCKT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The business services provider reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.06). The company had revenue of $77.46 million for the quarter, compared to analysts' expectations of $75.64 million. The Hackett Group had a return on equity of 36.40% and a net margin of 9.44%. As a group, research analysts anticipate that The Hackett Group will post 1.43 earnings per share for the current fiscal year.

The Hackett Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 21st were issued a dividend of $0.12 per share. This is an increase from The Hackett Group's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.48 annualized dividend and a yield of 1.81%. The Hackett Group's dividend payout ratio is 45.28%.

Hedge Funds Weigh In On The Hackett Group

A number of institutional investors and hedge funds have recently made changes to their positions in HCKT. Charles Schwab Investment Management Inc. raised its position in shares of The Hackett Group by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 266,317 shares of the business services provider's stock worth $6,996,000 after acquiring an additional 1,350 shares in the last quarter. Quantinno Capital Management LP acquired a new position in The Hackett Group in the 3rd quarter valued at about $276,000. Stifel Financial Corp raised its stake in shares of The Hackett Group by 18.0% during the third quarter. Stifel Financial Corp now owns 22,989 shares of the business services provider's stock worth $604,000 after purchasing an additional 3,501 shares during the last quarter. State Street Corp lifted its stake in shares of The Hackett Group by 4.1% in the 3rd 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 period. Finally, Barclays PLC increased its position in The Hackett Group by 202.1% during the 3rd quarter. Barclays PLC now owns 56,350 shares of the business services provider's stock worth $1,481,000 after purchasing an additional 37,695 shares during the period. 78.12% of the stock is owned by institutional investors and hedge funds.

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.