Barrington Research Reiterates “Buy” Rating for The Hackett Group (NASDAQ:HCKT)

The Hackett Group (NASDAQ:HCKT)‘s stock had its “buy” rating reaffirmed by research analysts at Barrington Research in a research note issued to investors on Friday, AnalystRatings.com reports. They currently have a $22.00 price target on the business services provider’s stock. Barrington Research’s target price suggests a potential upside of 27.24% from the stock’s current price.

The analysts wrote, “We expect a growing contribution from the company’s intellectual property (IP) business over time as it grows revenue from existing clients and adds new strategic relationships. In Q2/18, the company expanded its relationship with ADP (ADP: NOT RATED) by adding another platform to its revenue sharing arrangement.””

HCKT has been the topic of a number of other research reports. BidaskClub upgraded shares of The Hackett Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 6th. Roth Capital reaffirmed a “buy” rating on shares of The Hackett Group in a report on Wednesday, February 20th. ValuEngine cut shares of The Hackett Group from a “buy” rating to a “hold” rating in a report on Wednesday, February 20th. Finally, Zacks Investment Research raised shares of The Hackett Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $22.50.

Shares of The Hackett Group stock opened at $17.29 on Friday. The company has a market cap of $514.21 million, a P/E ratio of 16.31, a P/E/G ratio of 1.28 and a beta of 0.83. The Hackett Group has a twelve month low of $15.16 and a twelve month high of $22.84. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.93 and a current ratio of 1.93.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings data on Tuesday, May 7th. The business services provider reported $0.17 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.17. The company had revenue of $62.40 million for the quarter, compared to the consensus estimate of $65.99 million. The Hackett Group had a net margin of 8.35% and a return on equity of 21.76%. The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 earnings per share. On average, research analysts anticipate that The Hackett Group will post 0.9 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new stake in The Hackett Group during the fourth quarter valued at approximately $61,000. Legal & General Group Plc increased its holdings in The Hackett Group by 15.9% during the fourth quarter. Legal & General Group Plc now owns 4,383 shares of the business services provider’s stock valued at $71,000 after buying an additional 600 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in The Hackett Group by 4,079.2% during the first quarter. BNP Paribas Arbitrage SA now owns 5,015 shares of the business services provider’s stock valued at $79,000 after buying an additional 4,895 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in The Hackett Group by 146.6% during the first quarter. Great West Life Assurance Co. Can now owns 5,361 shares of the business services provider’s stock valued at $84,000 after buying an additional 3,187 shares during the last quarter. Finally, Strs Ohio purchased a new stake in The Hackett Group during the first quarter valued at approximately $107,000. 79.29% of the stock is owned by institutional investors and hedge funds.

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.

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