StarTek, Inc. (NYSE:SRT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

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. “

Several other research analysts have also issued reports on SRT. Lake Street Capital increased their target price on StarTek from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Robert W. Baird reissued a “hold” rating and issued a $12.00 target price on shares of StarTek in a research report on Wednesday.

Shares of StarTek (SRT) opened at 12.09 on Thursday. The firm has a 50-day moving average price of $11.67 and a 200-day moving average price of $11.05. StarTek has a 52 week low of $5.70 and a 52 week high of $14.78. The firm has a market cap of $192.82 million, a PE ratio of 46.15 and a beta of -0.06.

StarTek (NYSE:SRT) last announced its earnings results on Wednesday, August 9th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. StarTek had a return on equity of 9.60% and a net margin of 1.43%. The firm had revenue of $73.98 million during the quarter, compared to analyst estimates of $76.84 million. During the same quarter in the prior year, the company earned ($0.11) EPS. On average, equities research analysts predict that StarTek will post $0.30 earnings per share for the current year.

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Institutional investors have recently bought and sold shares of the stock. Citigroup Inc. purchased a new stake in shares of StarTek in the 2nd quarter worth approximately $101,000. Nationwide Fund Advisors grew its stake in shares of StarTek by 207.7% in the 2nd quarter. Nationwide Fund Advisors now owns 8,504 shares of the business services provider’s stock worth $104,000 after buying an additional 5,740 shares during the last quarter. KCG Holdings Inc. purchased a new stake in shares of StarTek in the 1st quarter worth approximately $123,000. New York State Common Retirement Fund purchased a new stake in shares of StarTek in the 2nd quarter worth approximately $133,000. Finally, Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of StarTek in the 2nd quarter worth approximately $146,000. Institutional investors own 48.99% of the company’s stock.

About StarTek

StarTek, Inc is a customer engagement business process outsourcing (BPO) services provider, delivering customer care solutions. The Company operates through three segments: Domestic, Nearshore and Offshore. As of December 31, 2016, its Domestic segment included the operations of 13 facilities in the United States and one facility in Canada; its Offshore segment included the operations of four facilities in the Philippines, and its Nearshore segment included the operations of two facilities in Honduras and one facility in Jamaica.

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