Zacks Investment Research upgraded shares of CRA International,Inc. (NASDAQ:CRAI) from a hold rating to a strong-buy rating in a research note published on Monday. The brokerage currently has $49.00 target price on the business services provider’s stock.
According to Zacks, “CRA International reported healthy third quarter results with earnings beating the Zacks Consensus Estimate on significant top-line growth. The company has taken some prudent restructuring initiatives, which should translate into an improved bottom line in the coming quarters. The company aims to achieve profitable growth through new engagements and several cross-selling opportunities. The company is on track to curtail its expenses by rationalizing office space and lowering administrative costs. The improved cost structure and broad-based profitable growth are expected to translate into attractive margins. CRA International’s healthy financial position gives it the flexibility to pursue new hires and acquisitions that support the core offerings in its portfolio. However, cautious spending by clients, stiff competition and currency fluctuations continue to be headwinds. CRA International has also underperformed the industry year to date.”
Separately, BidaskClub raised shares of CRA International,Inc. from a hold rating to a buy rating in a research note on Wednesday, August 2nd.
Shares of CRA International,Inc. (NASDAQ:CRAI) traded up 0.62% during midday trading on Monday, hitting $42.26. 66,415 shares of the company were exchanged. The company has a 50-day moving average price of $41.04 and a 200-day moving average price of $37.22. The stock has a market capitalization of $347.55 million, a price-to-earnings ratio of 30.27 and a beta of 0.78. CRA International,Inc. has a 52-week low of $28.38 and a 52-week high of $43.43.
CRA International,Inc. (NASDAQ:CRAI) last announced its earnings results on Thursday, October 26th. The business services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. CRA International,Inc. had a net margin of 3.39% and a return on equity of 5.96%. The firm had revenue of $91.30 million during the quarter, compared to the consensus estimate of $90.36 million. During the same quarter in the previous year, the company posted $0.39 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, analysts forecast that CRA International,Inc. will post $1.59 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 28th will be paid a $0.17 dividend. This is an increase from CRA International,Inc.’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.68 annualized dividend and a yield of 1.61%. CRA International,Inc.’s payout ratio is presently 40.29%.
Several hedge funds and other institutional investors have recently bought and sold shares of CRAI. Russell Investments Group Ltd. increased its stake in shares of CRA International,Inc. by 29.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 242,672 shares of the business services provider’s stock valued at $8,814,000 after acquiring an additional 54,614 shares during the last quarter. State Street Corp increased its stake in shares of CRA International,Inc. by 13.0% during the 2nd quarter. State Street Corp now owns 175,918 shares of the business services provider’s stock valued at $6,392,000 after acquiring an additional 20,293 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of CRA International,Inc. by 37.3% during the 2nd quarter. Nationwide Fund Advisors now owns 60,003 shares of the business services provider’s stock valued at $2,179,000 after acquiring an additional 16,300 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of CRA International,Inc. during the 2nd quarter valued at about $444,000. Finally, Foundry Partners LLC increased its stake in shares of CRA International,Inc. by 8.5% during the 3rd quarter. Foundry Partners LLC now owns 141,085 shares of the business services provider’s stock valued at $5,792,000 after acquiring an additional 11,070 shares during the last quarter. 85.96% of the stock is owned by institutional investors.
About CRA International,Inc.
CRA International, Inc is a global consulting firm. The Company provides economic, financial and management consulting services. The Company consulting services in two areas: litigation, regulatory, and financial consulting and management consulting. The Company provides services, such as economic capability, analyses and testimony in areas, such as Antitrust & Competition; Damages & Valuation; Financial Accounting & Valuation; Financial Economics; Forensic & Cyber Investigations; Insurance Economics; Intellectual Property; International Arbitration; Labor & Employment; Mergers & Acquisitions; Regulatory Economics & Compliance; Securities & Financial Markets, and Transfer Pricing.
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