Zacks Investment Research downgraded shares of The Hackett Group, Inc. (NASDAQ:HCKT) from a hold rating to a sell rating in a research report report published on Tuesday morning.

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. “

Several other research analysts also recently commented on HCKT. Craig Hallum downgraded shares of The Hackett Group from a buy rating to a hold rating and set a $18.00 target price on the stock. in a report on Wednesday, May 10th. Roth Capital downgraded shares of The Hackett Group from a buy rating to a neutral rating and set a $20.00 target price on the stock. in a report on Wednesday, May 10th. SunTrust Banks, Inc. initiated coverage on shares of The Hackett Group in a report on Thursday, June 15th. They issued a buy rating and a $19.00 target price on the stock. Finally, BidaskClub upgraded shares of The Hackett Group from a hold rating to a buy rating in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $20.00.

Shares of The Hackett Group (HCKT) opened at 13.77 on Tuesday. The firm has a market capitalization of $399.89 million, a P/E ratio of 18.34 and a beta of 0.78. The Hackett Group has a 52 week low of $13.24 and a 52 week high of $20.69. The stock’s 50 day moving average price is $15.66 and its 200 day moving average price is $17.10.

The Hackett Group (NASDAQ:HCKT) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by $0.02. The firm had revenue of $73.60 million during the quarter, compared to the consensus estimate of $74.36 million. The Hackett Group had a return on equity of 27.74% and a net margin of 8.42%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 EPS. On average, analysts predict that The Hackett Group will post $0.98 EPS for the current fiscal year.

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The Hackett Group declared that its board has initiated a stock repurchase program on Monday, May 15th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 1.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Several hedge funds and other institutional investors have recently bought and sold shares of HCKT. Vanguard Group Inc. increased its position in The Hackett Group by 10.6% in the second quarter. Vanguard Group Inc. now owns 1,789,845 shares of the business services provider’s stock valued at $27,743,000 after buying an additional 171,125 shares during the last quarter. Dimensional Fund Advisors LP increased its position in The Hackett Group by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,707,362 shares of the business services provider’s stock valued at $26,464,000 after buying an additional 18,198 shares during the last quarter. Copper Rock Capital Partners LLC bought a new position in The Hackett Group during the second quarter valued at about $24,638,000. Hosking Partners LLP increased its position in The Hackett Group by 1.7% in the second quarter. Hosking Partners LLP now owns 1,128,030 shares of the business services provider’s stock valued at $17,484,000 after buying an additional 18,647 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in The Hackett Group by 68.7% in the first quarter. Renaissance Technologies LLC now owns 882,444 shares of the business services provider’s stock valued at $17,199,000 after buying an additional 359,300 shares during the last quarter. Institutional investors own 82.04% of the company’s stock.

About The Hackett Group

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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