CRA International Inc. (CRAI) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of CRA International Inc. (NASDAQ:CRAI) from a buy rating to a hold rating in a research note published on Wednesday morning.

According to Zacks, “CRA International has managed to beat earnings estimates twice over the last four quarters, mainly driven by diligent restructuring efforts. The company focuses on three key areas namely, generating balanced growth, strengthening client relationships and simplifying internal processes, to boost growth. CRA International further aims to achieve profitable growth through new engagements and several cross-selling opportunities. The company also reaffirmed its guidance for 2016 despite challenging macroeconomic conditions. However, high integration costs for acquired firms, macroeconomic uncertainties and proper integration of new hires remain concerns. Over the years, customer growth has slowed down significantly as the potential customers are less willing to add consulting services when budgets are tight. This scenario is crucial as it has the potential to cause the worst long-term negative impact on the company’s consulting business.”

CRA International (NASDAQ:CRAI) opened at 26.59 on Wednesday. The firm has a 50-day moving average price of $26.89 and a 200-day moving average price of $24.23. CRA International has a 1-year low of $16.25 and a 1-year high of $31.31. The firm has a market cap of $217.61 million, a price-to-earnings ratio of 25.97 and a beta of 0.68.

CRA International (NASDAQ:CRAI) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.05. CRA International had a return on equity of 4.41% and a net margin of 2.94%. The company earned $82.60 million during the quarter, compared to analysts’ expectations of $78.69 million. CRA International’s revenue was up 7.9% on a year-over-year basis. On average, analysts expect that CRA International will post $1.30 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY acquired a new stake in CRA International during the first quarter worth about $142,000. Falcon Point Capital LLC acquired a new stake in CRA International during the second quarter worth about $905,000. California Public Employees Retirement System boosted its stake in CRA International by 4.1% in the second quarter. California Public Employees Retirement System now owns 60,800 shares of the company’s stock worth $1,533,000 after buying an additional 2,400 shares during the last quarter. Piermont Capital Management Inc. acquired a new stake in CRA International during the second quarter worth about $1,573,000. Finally, Kestrel Investment Management Corp acquired a new stake in CRA International during the second quarter worth about $1,665,000. 85.28% of the stock is owned by institutional investors.

CRA International Company Profile

CRA International, Inc is a global consulting firm. The Company provides economic, financial and management consulting services. It operates in two segments: consulting services and NeuCo It offers consulting services in areas, including litigation, regulatory and financial consulting, and management consulting.

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