The Hackett Group (NASDAQ:HCKT) Given New $27.00 Price Target at Barrington Research

Key Points

• Barrington Research has cut its price target for The Hackett Group from $32.00 to $27.00, indicating a potential upside of 28.52% from the last closing price.
• Wall Street Zen downgraded The Hackett Group from a "buy" to a "hold" rating, contributing to a mixed analyst sentiment with a consensus rating of "Moderate Buy."
• The Hackett Group's stock recently traded down to $21.01, with a 52-week low of $19.39 and a high of $34.02, showcasing significant volatility in its stock price.

The Hackett Group (NASDAQ:HCKT - Get Free Report) had its target price dropped by equities research analysts at Barrington Research from $32.00 to $27.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the business services provider's stock. Barrington Research's price objective points to a potential upside of 30.75% from the stock's previous close.

Separately, Wall Street Zen cut The Hackett Group from a "buy" rating to a "hold" rating in a research report on Monday, July 21st.

The Hackett Group Stock Down 1.1%

Shares of NASDAQ:HCKT traded down $0.23 during trading on Wednesday, reaching $20.65. 95,242 shares of the company traded hands, compared to its average volume of 169,459. The firm has a fifty day simple moving average of $24.18 and a 200 day simple moving average of $26.77. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.16. The Hackett Group has a 1-year low of $19.39 and a 1-year high of $34.02. The firm has a market cap of $571.18 million, a P/E ratio of 34.47, a price-to-earnings-growth ratio of 1.21 and a beta of 0.96.

Institutional Investors Weigh In On The Hackett Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of The Hackett Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 2,186,611 shares of the business services provider's stock worth $67,173,000 after acquiring an additional 16,682 shares in the last quarter. Geode Capital Management LLC grew its holdings in The Hackett Group by 2.4% during the second quarter. Geode Capital Management LLC now owns 765,243 shares of the business services provider's stock valued at $19,455,000 after purchasing an additional 18,196 shares during the last quarter. Ariel Investments LLC raised its position in shares of The Hackett Group by 4.1% in the first quarter. Ariel Investments LLC now owns 628,672 shares of the business services provider's stock valued at $18,370,000 after purchasing an additional 24,608 shares during the period. Boston Partners lifted its stake in shares of The Hackett Group by 1.8% in the second quarter. Boston Partners now owns 533,948 shares of the business services provider's stock worth $13,305,000 after buying an additional 9,477 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its holdings in shares of The Hackett Group by 1.6% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 410,741 shares of the business services provider's stock worth $12,002,000 after buying an additional 6,635 shares during the period. Institutional investors and hedge funds own 78.12% of the company's stock.

About The Hackett Group

The Hackett Group, Inc operates as an intellectual property-based executive advisory, strategic consulting, and digital transformation company in the United States, Europe, and internationally. The company operates through three segments: Global Strategy & Business Transformation, Oracle Solutions, and SAP Solutions.