StarTek’s (SRT) “Hold” Rating Reaffirmed at Robert W. Baird
StarTek, Inc. (NYSE:SRT)‘s stock had its “hold” rating restated by stock analysts at Robert W. Baird in a research note issued to investors on Wednesday. They currently have a $12.00 price target on the business services provider’s stock. Robert W. Baird’s target price indicates a potential upside of 0.08% from the stock’s current price.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut StarTek from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Lake Street Capital raised their price objective on shares of StarTek from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, August 10th.
StarTek (SRT) opened at 11.99 on Wednesday. The firm’s 50 day moving average price is $11.64 and its 200-day moving average price is $11.00. The firm has a market cap of $191.23 million, a PE ratio of 45.76 and a beta of -0.06. StarTek has a 52 week low of $5.70 and a 52 week high of $14.78.
StarTek (NYSE:SRT) last posted its quarterly earnings results on Wednesday, August 9th. The business services provider reported $0.03 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $73.98 million during the quarter, compared to the consensus estimate of $76.84 million. During the same period last year, the business earned ($0.11) EPS. On average, analysts forecast that StarTek will post $0.30 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. Engine Capital Management LLC boosted its holdings in StarTek by 8,617.8% in the first quarter. Engine Capital Management LLC now owns 784,425 shares of the business services provider’s stock worth $6,817,000 after purchasing an additional 775,427 shares in the last quarter. Algert Global LLC acquired a new position in StarTek during the second quarter worth $1,390,000. State Street Corp acquired a new position in StarTek during the second quarter worth $1,383,000. Northern Trust Corp increased its position in StarTek by 292.7% during the second quarter. Northern Trust Corp now owns 127,000 shares of the business services provider’s stock worth $1,555,000 after buying an additional 94,656 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in StarTek by 31.3% during the second quarter. Vanguard Group Inc. now owns 376,404 shares of the business services provider’s stock worth $4,607,000 after buying an additional 89,679 shares during the last quarter. 48.99% of the stock is owned by institutional investors and hedge funds.
StarTek Company Profile
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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