Zacks Investment Research downgraded shares of The Hackett Group Inc. (NASDAQ:HCKT) from a buy rating to a hold rating in a report issued on Tuesday.

According to Zacks, “The Hackett Group, a global strategic advisory firm and an Answerthink company, is a leader in best practice research and advisory programs, benchmarking and transformation consulting services, including shared services, offshoring and outsourcing advice. Utilizing best practices and implementation insight from more than 4,000 benchmarking studies, executives use Hackett’s empirically based approach to quickly define and prioritize initiatives, and to leverage proven strategies that enable world-class performance. “

The Hackett Group (NASDAQ:HCKT) opened at 16.10 on Tuesday. The stock has a market cap of $459.77 million, a P/E ratio of 31.57 and a beta of 0.96. The company has a 50-day moving average of $16.30 and a 200 day moving average of $15.00. The Hackett Group has a 1-year low of $12.44 and a 1-year high of $20.02.

The Hackett Group (NASDAQ:HCKT) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. The company had revenue of $75.61 million for the quarter, compared to analyst estimates of $72.08 million. The Hackett Group had a net margin of 6.09% and a return on equity of 20.00%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share. Analysts predict that The Hackett Group will post $0.90 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. Acrospire Investment Management LLC increased its position in shares of The Hackett Group by 71.0% in the second quarter. Acrospire Investment Management LLC now owns 8,672 shares of the company’s stock worth $120,000 after buying an additional 3,600 shares in the last quarter. Walleye Trading LLC increased its position in shares of The Hackett Group by 142.9% in the second quarter. Walleye Trading LLC now owns 10,200 shares of the company’s stock worth $141,000 after buying an additional 6,000 shares during the period. BlackRock Group LTD increased its position in shares of The Hackett Group by 44.1% in the second quarter. BlackRock Group LTD now owns 10,304 shares of the company’s stock worth $143,000 after buying an additional 3,151 shares during the period. BlackRock Inc. increased its position in shares of The Hackett Group by 623.7% in the second quarter. BlackRock Inc. now owns 11,826 shares of the company’s stock worth $164,000 after buying an additional 10,192 shares during the period. Finally, Navellier & Associates Inc increased its position in shares of The Hackett Group by 10.0% in the second quarter. Navellier & Associates Inc now owns 12,130 shares of the company’s stock worth $168,000 after buying an additional 1,099 shares during the period. 75.69% of the stock is owned by institutional investors and hedge funds.

The Hackett Group Company Profile

The Hackett Group, Inc is an advisory and technology consulting company. The Company’s services include business transformation, enterprise performance management, working capital management and global business services. The Company is engaged in providing business and technology consulting services.

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