StarTek Inc. (SRT) Upgraded to “Hold” by Zacks Investment Research
According to Zacks, “StarTek, Inc. is a global provider of process management services and owns and operates branded vertical market Internet web sites. Their process management service platforms include E-commerce support and fulfillment, provisioning management for telecommunications systems, high-end inbound technical support, and an offering of supply chain management services. As an outsourcer of process management services as its core business, StarTek allows its clients to focus on their primary business, reduce overhead, replace fixed costs with variable costs, and reduce working capital needs. “
Separately, TheStreet upgraded shares of StarTek from a sell rating to a hold rating in a research note on Wednesday, September 7th.
StarTek (NYSE:SRT) remained flat at $5.98 during trading on Wednesday. The stock’s 50 day moving average price is $5.80 and its 200 day moving average price is $4.70. The company’s market cap is $94.09 million. StarTek has a 12 month low of $3.30 and a 12 month high of $6.40.
StarTek (NYSE:SRT) last posted its earnings results on Tuesday, August 9th. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.10. StarTek had a negative net margin of 2.94% and a negative return on equity of 20.21%. The company earned $73.70 million during the quarter, compared to analyst estimates of $76.55 million. Analysts anticipate that StarTek will post ($0.04) EPS for the current fiscal year.
A hedge fund recently raised its stake in StarTek stock. BlackRock Fund Advisors boosted its position in StarTek Inc. (NYSE:SRT) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,820 shares of the company’s stock after buying an additional 593 shares during the period. BlackRock Fund Advisors owned about 0.25% of StarTek worth $163,000 at the end of the most recent reporting period. 41.48% of the stock is currently owned by hedge funds and other institutional investors.
StarTek, Inc (STARTEK) is a customer engagement business process outsourcing (BPO) services company, which is delivering customer care solutions. The Company operates its business in three segments, based on the geographic regions: Domestic, Nearshore, and Offshore. Its Domestic segment includes the operations of approximately 10 facilities in the United States and one facility in Canada.
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