CRA International Inc. (CRAI) Downgraded to “Hold” at Zacks Investment Research
According to Zacks, “CRA International has managed to beat earnings estimates twice over the last four quarters, mainly driven by diligent restructuring efforts. The company focuses on three key areas namely, generating balanced growth, strengthening client relationships and simplifying internal processes, to boost growth. CRA International further aims to achieve profitable growth through new engagements and several cross-selling opportunities. The company also reaffirmed its guidance for 2016 despite challenging macroeconomic conditions. However, high integration costs for acquired firms, macroeconomic uncertainties and proper integration of new hires remain concerns. Over the years, customer growth has slowed down significantly as the potential customers are less willing to add consulting services when budgets are tight. This scenario is crucial as it has the potential to cause the worst long-term negative impact on the company’s consulting business.”
Shares of CRA International (NASDAQ:CRAI) traded down 1.32% on Wednesday, reaching $27.01. The company’s stock had a trading volume of 6,286 shares. CRA International has a 1-year low of $16.25 and a 1-year high of $31.31. The company’s 50 day moving average is $26.89 and its 200-day moving average is $24.16. The firm has a market cap of $221.05 million, a price-to-earnings ratio of 26.38 and a beta of 0.80.
CRA International (NASDAQ:CRAI) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.05. The business earned $82.60 million during the quarter, compared to the consensus estimate of $78.69 million. CRA International had a return on equity of 4.41% and a net margin of 2.94%. CRA International’s revenue was up 7.9% on a year-over-year basis. Equities research analysts expect that CRA International will post $1.30 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. acquired a new stake in CRA International during the second quarter worth about $2,958,000. Thomson Horstmann & Bryant Inc. boosted its stake in CRA International by 44.3% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 372,984 shares of the company’s stock worth $9,406,000 after buying an additional 114,480 shares during the last quarter. Kestrel Investment Management Corp acquired a new stake in CRA International during the second quarter worth about $1,665,000. Piermont Capital Management Inc. acquired a new stake in CRA International during the second quarter worth about $1,573,000. Finally, Osmium Partners LLC boosted its stake in CRA International by 14.1% in the first quarter. Osmium Partners LLC now owns 474,229 shares of the company’s stock worth $9,314,000 after buying an additional 58,566 shares during the last quarter. 85.28% of the stock is owned by institutional investors.
About CRA International
CRA International, Inc is a global consulting firm. The Company provides economic, financial and management consulting services. It operates in two segments: consulting services and NeuCo It offers consulting services in areas, including litigation, regulatory and financial consulting, and management consulting.
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