The Hackett Group (NASDAQ:HCKT) Sets New 1-Year High on Analyst Upgrade

The Hackett Group, Inc. (NASDAQ:HCKT)’s share price hit a new 52-week high during mid-day trading on Wednesday after Roth Mkm raised their price target on the stock from $29.00 to $30.00. Roth Mkm currently has a buy rating on the stock. The Hackett Group traded as high as $29.70 and last traded at $29.70, with a volume of 589 shares traded. The stock had previously closed at $28.62.

Several other research firms have also issued reports on HCKT. Craig Hallum raised their price target on The Hackett Group from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday. Roth Capital lowered The Hackett Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Barrington Research reissued an “outperform” rating and issued a $28.00 target price on shares of The Hackett Group in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, The Hackett Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Institutional Trading of The Hackett Group

A number of institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. increased its stake in shares of The Hackett Group by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 100,527 shares of the business services provider’s stock valued at $2,183,000 after purchasing an additional 73,605 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of The Hackett Group during the second quarter worth approximately $1,799,000. BOKF NA acquired a new stake in The Hackett Group in the first quarter valued at $305,000. Pacific Ridge Capital Partners LLC purchased a new stake in shares of The Hackett Group during the 2nd quarter worth approximately $656,000. Finally, Vanguard Group Inc. boosted its position in shares of The Hackett Group by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 1,995,053 shares of the business services provider’s stock valued at $48,480,000 after purchasing an additional 61,635 shares during the period. Institutional investors and hedge funds own 78.12% of the company’s stock.

The Hackett Group Price Performance

The company’s 50-day simple moving average is $25.76 and its 200-day simple moving average is $24.05. The company has a market capitalization of $849.87 million, a PE ratio of 24.59, a P/E/G ratio of 1.35 and a beta of 0.91. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 1.71.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The Hackett Group had a return on equity of 38.20% and a net margin of 11.46%. The business had revenue of $75.90 million for the quarter, compared to the consensus estimate of $74.16 million. As a group, sell-side analysts anticipate that The Hackett Group, Inc. will post 1.28 earnings per share 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. Investors of record on Friday, December 20th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, December 20th. This represents a $0.44 annualized dividend and a dividend yield of 1.43%. The Hackett Group’s payout ratio is 35.20%.

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.