The Hackett Group, Inc. (NASDAQ:HCKT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

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. “

A number of other brokerages also recently issued reports on HCKT. BidaskClub raised shares of The Hackett Group from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Roth Capital upgraded shares of The Hackett Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $16.00 to $20.00 in a research report 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 stock has a consensus rating of “Hold” and an average price target of $18.33.

Shares of The Hackett Group (NASDAQ HCKT) traded up $0.11 during midday trading on Friday, reaching $15.29. 107,700 shares of the company were exchanged, compared to its average volume of 100,844. The Hackett Group has a 12-month low of $13.24 and a 12-month high of $20.69. The stock has a market capitalization of $438.15, a P/E ratio of 20.39, a PEG ratio of 1.28 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.68 and a quick ratio of 1.50.

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

The Hackett Group announced that its Board of Directors has approved a share buyback plan on Tuesday, August 8th that allows the company to repurchase $5.00 million in shares. This repurchase authorization allows the business services provider to repurchase up to 17% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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Several hedge funds and other institutional investors have recently modified their holdings of HCKT. SG Americas Securities LLC acquired a new stake in shares of The Hackett Group in the second quarter valued at about $116,000. Victory Capital Management Inc. raised its position in shares of The Hackett Group by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,522 shares of the business services provider’s stock valued at $117,000 after buying an additional 1,127 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in shares of The Hackett Group in the second quarter valued at about $124,000. Frontier Wealth Management LLC acquired a new stake in shares of The Hackett Group in the second quarter valued at about $171,000. Finally, Voya Investment Management LLC acquired a new stake in shares of The Hackett Group in the second quarter valued at about $175,000. Institutional investors and hedge funds own 75.35% 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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