Zacks Investment Research cut shares of The Hackett Group, Inc. (NASDAQ:HCKT) from a hold rating to a sell rating in a research note released on Friday 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. “

Other research analysts have also recently issued research reports about the stock. BidaskClub raised shares of The Hackett Group from a hold rating to a buy rating in a report on Monday, July 24th. Roth Capital raised The Hackett Group from a neutral rating to a buy rating and increased their target price for the company from $16.00 to $20.00 in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The Hackett Group has an average rating of Hold and a consensus price target of $18.33.

The Hackett Group (NASDAQ:HCKT) opened at $15.29 on Friday. The firm has a market cap of $438.15, a price-to-earnings ratio of 20.39, a PEG ratio of 1.27 and a beta of 0.81. The Hackett Group has a 1-year low of $13.24 and a 1-year high of $20.69. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.68 and a quick ratio of 1.68.

The Hackett Group (NASDAQ:HCKT) last released its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.01. The firm had revenue of $71.50 million for the quarter, compared to analysts’ expectations of $70.66 million. The Hackett Group had a net margin of 8.42% and a return on equity of 26.10%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. research analysts expect that The Hackett Group will post 0.8 EPS for the current year.

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The company also recently announced a semiannual dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be paid a $0.15 dividend. The ex-dividend date is Thursday, December 21st. This represents a yield of 2.02%. The Hackett Group’s dividend payout ratio is presently 40.00%.

The Hackett Group declared that its board has approved a share buyback plan on Tuesday, August 8th that permits the company to repurchase $5.00 million in outstanding shares. This repurchase authorization permits the business services provider to reacquire up to 17% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trigran Investments Inc. grew its stake in shares of The Hackett Group by 484.9% during the second quarter. Trigran Investments Inc. now owns 641,337 shares of the business services provider’s stock valued at $9,940,000 after buying an additional 531,681 shares during the last quarter. Wasatch Advisors Inc. bought a new position in shares of The Hackett Group during the third quarter valued at about $6,986,000. Boston Partners grew its stake in shares of The Hackett Group by 192.8% during the third quarter. Boston Partners now owns 545,482 shares of the business services provider’s stock valued at $8,286,000 after buying an additional 359,182 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of The Hackett Group during the second quarter valued at about $3,781,000. Finally, Vanguard Group Inc. grew its stake in shares of The Hackett Group by 10.6% during 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. 76.42% of the stock is currently owned by institutional investors and hedge funds.

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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