Craig Hallum Forecasts Strong Price Appreciation for The Hackett Group (NASDAQ:HCKT) Stock

The Hackett Group (NASDAQ:HCKT) had its target price raised by Craig Hallum from $30.00 to $32.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other analysts also recently commented on the stock. Barrington Research reaffirmed an “outperform” rating and set a $28.00 price objective on shares of The Hackett Group in a research report on Wednesday, October 30th. Roth Capital downgraded shares of The Hackett Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.00.

The Hackett Group Price Performance

The Hackett Group stock opened at $30.27 on Tuesday. The firm has a market cap of $836.97 million, a P/E ratio of 24.81, a P/E/G ratio of 1.36 and a beta of 0.91. The stock’s 50 day moving average is $25.84 and its 200 day moving average is $24.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 1.71. The Hackett Group has a one year low of $20.23 and a one year high of $30.78.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. The Hackett Group had a return on equity of 36.76% and a net margin of 11.05%. The firm had revenue of $75.90 million during the quarter, compared to the consensus estimate of $74.16 million. As a group, research analysts expect that The Hackett Group will post 1.28 EPS for the current year.

The Hackett Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Friday, December 20th. The Hackett Group’s dividend payout ratio is presently 36.07%.

Institutional Investors Weigh In On The Hackett Group

Several large investors have recently made changes to their positions in HCKT. Isthmus Partners LLC increased its holdings in The Hackett Group by 1.1% during the second quarter. Isthmus Partners LLC now owns 164,195 shares of the business services provider’s stock worth $36,000 after buying an additional 1,763 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in shares of The Hackett Group in the third quarter valued at $54,000. CWM LLC raised its stake in shares of The Hackett Group by 78.4% during the 2nd quarter. CWM LLC now owns 4,667 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 2,051 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in The Hackett Group by 18.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,419 shares of the business services provider’s stock worth $183,000 after purchasing an additional 1,283 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in The Hackett Group by 9.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,262 shares of the business services provider’s stock worth $223,000 after purchasing an additional 851 shares during the period. 78.12% of the stock is owned by hedge funds and other institutional investors.

About The Hackett Group

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.