CRA International (CRAI) Downgraded by Zacks Investment Research

CRA International (NASDAQ:CRAI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “CRA International 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. However, cautious spending by clients, stiff competition and currency fluctuations continue to be headwinds. CRA International followed the declining trends of the financial services industry during the peak of the financial crisis and its after-effects are still reflected in weak customer growth, as potential customers are less willing to add consulting services when budgets are tight. CRA International has underperformed the industry year to date.”

Several other equities research analysts have also recently issued reports on CRAI. ValuEngine cut shares of CRA International from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BidaskClub cut shares of CRA International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 5th.

CRA International (CRAI) traded down $0.77 during trading on Tuesday, hitting $44.26. 16,700 shares of the stock traded hands, compared to its average volume of 43,950. The company has a market capitalization of $358.91, a PE ratio of 31.84 and a beta of 0.79. CRA International has a 52-week low of $31.77 and a 52-week high of $47.30.

CRA International (NASDAQ:CRAI) last released its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.03. The firm had revenue of $91.30 million for the quarter, compared to analysts’ expectations of $90.36 million. CRA International had a net margin of 3.39% and a return on equity of 5.98%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 earnings per share. sell-side analysts expect that CRA International will post 1.56 earnings per share for the current year.

In other CRA International news, Director Rowland Moriarty sold 10,000 shares of CRA International stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $46.10, for a total transaction of $461,000.00. Following the completion of the transaction, the director now directly owns 38,471 shares of the company’s stock, valued at $1,773,513.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Chad M. Holmes sold 1,700 shares of CRA International stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $43.17, for a total transaction of $73,389.00. Following the transaction, the chief financial officer now directly owns 11,055 shares of the company’s stock, valued at $477,244.35. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock worth $1,108,417 in the last 90 days. 4.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its stake in CRA International by 13.0% during the second quarter. State Street Corp now owns 175,918 shares of the business services provider’s stock worth $6,392,000 after buying an additional 20,293 shares during the period. Foundry Partners LLC boosted its stake in CRA International by 8.5% during the third quarter. Foundry Partners LLC now owns 141,085 shares of the business services provider’s stock worth $5,792,000 after buying an additional 11,070 shares during the period. Bank of New York Mellon Corp boosted its stake in CRA International by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 96,667 shares of the business services provider’s stock worth $3,511,000 after buying an additional 2,258 shares during the period. Nationwide Fund Advisors boosted its stake in CRA International by 37.3% during the second quarter. Nationwide Fund Advisors now owns 60,003 shares of the business services provider’s stock worth $2,179,000 after buying an additional 16,300 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in CRA International by 21.9% during the second quarter. TIAA CREF Investment Management LLC now owns 49,213 shares of the business services provider’s stock worth $1,787,000 after buying an additional 8,835 shares during the period. 85.17% of the stock is owned by institutional investors.

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CRA International Company Profile

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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