The Hackett Group (NASDAQ:HCKT) Receives Outperform Rating from Barrington Research

Key Points

• Barrington Research has restated its "outperform" rating for The Hackett Group (NASDAQ:HCKT) with a price target of $27.00, suggesting a potential upside of 32.55% from its current price.
• Despite the positive outlook from Barrington, Wall Street Zen has downgraded The Hackett Group from a "buy" to a "hold" rating, highlighting some conflicting sentiments in analyst recommendations.
• The Hackett Group possesses a market cap of $560.38 million, with current stock trading at around $20.37, well below its one-year high of $34.02.

The Hackett Group (NASDAQ:HCKT - Get Free Report)'s stock had its "outperform" rating reissued by Barrington Research in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $27.00 target price on the business services provider's stock. Barrington Research's price objective indicates a potential upside of 29.28% from the company's current price.

Separately, Wall Street Zen cut The Hackett Group from a "buy" rating to a "hold" rating in a research report on Monday, July 21st. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $29.67.

The Hackett Group Stock Performance

Shares of NASDAQ HCKT traded down $0.11 during trading hours on Thursday, reaching $20.89. The stock had a trading volume of 53,961 shares, compared to its average volume of 183,902. The firm has a market cap of $574.57 million, a price-to-earnings ratio of 34.81, a PEG ratio of 1.44 and a beta of 1.03. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.19. The Hackett Group has a fifty-two week low of $19.39 and a fifty-two week high of $34.02. The firm has a 50-day moving average of $22.46 and a 200-day moving average of $25.08.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming boosted its holdings in The Hackett Group by 15.9% in the second quarter. State of Wyoming now owns 12,816 shares of the business services provider's stock valued at $326,000 after acquiring an additional 1,755 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of The Hackett Group by 566.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,703 shares of the business services provider's stock worth $145,000 after purchasing an additional 4,847 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of The Hackett Group by 87.1% during the second quarter. BNP Paribas Financial Markets now owns 72,945 shares of the business services provider's stock worth $1,854,000 after purchasing an additional 33,967 shares in the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of The Hackett Group during the second quarter worth about $549,000. Finally, Jane Street Group LLC lifted its stake in shares of The Hackett Group by 103.0% during the second quarter. Jane Street Group LLC now owns 95,806 shares of the business services provider's stock worth $2,435,000 after purchasing an additional 48,612 shares in the last quarter. 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.