William Blair Begins Coverage on The Hackett Group (HCKT)

William Blair started coverage on shares of The Hackett Group (NASDAQ:HCKT) in a report released on Friday morning, MarketBeat reports. The firm issued an outperform rating on the business services provider’s stock.

Several other brokerages have also recently commented on HCKT. BidaskClub upgraded shares of The Hackett Group from a buy rating to a strong-buy rating in a research report on Thursday, October 18th. Barrington Research set a $22.00 target price on shares of The Hackett Group and gave the company a buy rating in a research report on Tuesday, October 30th. ValuEngine cut shares of The Hackett Group from a buy rating to a hold rating in a research report on Wednesday, December 5th. Finally, Zacks Investment Research cut shares of The Hackett Group from a hold rating to a sell rating in a research report on Friday, January 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $21.33.

Shares of NASDAQ:HCKT opened at $17.65 on Friday. The company has a market capitalization of $497.38 million, a PE ratio of 23.22, a PEG ratio of 1.18 and a beta of 0.98. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.09. The Hackett Group has a 12 month low of $15.03 and a 12 month high of $22.84.

The Hackett Group (NASDAQ:HCKT) last issued its earnings results on Tuesday, November 6th. The business services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). The firm had revenue of $73.84 million during the quarter, compared to analyst estimates of $73.70 million. The Hackett Group had a net margin of 11.48% and a return on equity of 22.48%. The Hackett Group’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 earnings per share. As a group, research analysts expect that The Hackett Group will post 0.87 EPS for the current year.

The business also recently declared a semiannual dividend, which was paid on Friday, January 4th. Investors of record on Friday, December 21st were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, December 20th. This is a positive change from The Hackett Group’s previous semiannual dividend of $0.15. This represents a dividend yield of 1.7%. The Hackett Group’s payout ratio is 44.74%.

A number of institutional investors and hedge funds have recently bought and sold shares of HCKT. FMR LLC grew its holdings in The Hackett Group by 175.8% during the 3rd quarter. FMR LLC now owns 1,616,999 shares of the business services provider’s stock worth $32,583,000 after acquiring an additional 1,030,786 shares during the last quarter. Renaissance Technologies LLC grew its holdings in The Hackett Group by 25.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,051,044 shares of the business services provider’s stock worth $16,890,000 after acquiring an additional 214,900 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in The Hackett Group during the 3rd quarter worth approximately $3,487,000. Russell Investments Group Ltd. grew its holdings in The Hackett Group by 42.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 417,859 shares of the business services provider’s stock worth $8,420,000 after acquiring an additional 124,559 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in The Hackett Group by 89.9% during the 2nd quarter. Millennium Management LLC now owns 257,738 shares of the business services provider’s stock worth $4,142,000 after acquiring an additional 121,988 shares during the last quarter. 79.76% of the stock is currently owned by hedge funds and other institutional investors.

About The Hackett Group

The Hackett Group, Inc operates as a strategic advisory and technology consulting firm primarily in North America and European countries. Its executive advisory programs include best practice intelligence center, an online searchable repository of best practices, performance metrics, conference presentations, and associated research; best practice accelerators that provide Web based access to best practices, customized software configuration tools, and best practice process flows; advisor inquiry, an inquiry service used by clients for access to fact-based advice on proven approaches and methods; best practice research, a research that provides insights into the proven approaches; and peer interaction comprising member-led Webcasts, annual best practice conferences, annual member forums, membership performance surveys, and client-submitted content.

Featured Article: Treasury Bonds

Receive News & Ratings for The Hackett Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hackett Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply