The Hackett Group (NASDAQ:HCKT) Hits New 1-Year Low - Here's Why

Key Points

• The Hackett Group's stock hit a new **52-week low** of $19.25 during trading, with the last traded price at $19.76 after a decline from a previous close of $22.78.
• While Barrington Research maintains an **"outperform"** rating and a target price of $32, other analysts have downgraded the stock from **"buy"** to **"hold,"** resulting in a current consensus rating of **"Moderate Buy."**
• Institutional investors control **78.12%** of The Hackett Group’s stock, with notable acquisitions in recent quarters from firms like Nuveen LLC and Invesco Ltd. increasing their stakes significantly.

The Hackett Group, Inc. (NASDAQ:HCKT - Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $19.25 and last traded at $19.76, with a volume of 6632 shares. The stock had previously closed at $22.78.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HCKT shares. Wall Street Zen downgraded The Hackett Group from a "buy" rating to a "hold" rating in a research note on Monday, July 21st. Barrington Research dropped their target price on shares of The Hackett Group from $32.00 to $27.00 and set an "outperform" rating on the stock in a report on Wednesday.

The Hackett Group Stock Down 0.8%

The company has a debt-to-equity ratio of 0.16, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a market capitalization of $572.84 million, a P/E ratio of 34.73, a price-to-earnings-growth ratio of 1.21 and a beta of 0.96. The firm has a 50 day moving average of $24.18 and a 200-day moving average of $26.77.

The Hackett Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, September 19th. The Hackett Group's payout ratio is 80.00%.

Institutional Trading of The Hackett Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake 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 worth $19,455,000 after purchasing an additional 18,196 shares during the period. Boston Partners lifted its position in shares of The Hackett Group by 1.8% during the 2nd 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 period. Campbell & CO Investment Adviser LLC boosted its stake in The Hackett Group by 10.2% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 40,911 shares of the business services provider's stock valued at $1,040,000 after buying an additional 3,787 shares in the last quarter. Haven Private LLC boosted its stake in The Hackett Group by 2.3% in the 2nd quarter. Haven Private LLC now owns 31,157 shares of the business services provider's stock valued at $792,000 after buying an additional 695 shares in the last quarter. Finally, Quaker Wealth Management LLC grew its position in The Hackett Group by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 1,143 shares of the business services provider's stock valued at $29,000 after acquiring an additional 2,286 shares during the period. Institutional investors own 78.12% of the company's stock.

The Hackett Group Company Profile

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.