StarTek Inc. (SRT) Raised to “Hold” at Zacks Investment Research

StarTek Inc. (NYSE:SRT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “StarTek, Inc. is a global provider of process management services and owns and operates branded vertical market Internet web sites. Their process management service platforms include E-commerce support and fulfillment, provisioning management for telecommunications systems, high-end inbound technical support, and an offering of supply chain management services. As an outsourcer of process management services as its core business, StarTek allows its clients to focus on their primary business, reduce overhead, replace fixed costs with variable costs, and reduce working capital needs. “

Separately, TheStreet upgraded StarTek from a “sell” rating to a “hold” rating in a report on Wednesday, September 7th.

Shares of StarTek (NYSE:SRT) opened at 6.00 on Wednesday. StarTek has a 52-week low of $3.30 and a 52-week high of $6.40. The stock’s 50 day moving average price is $5.77 and its 200-day moving average price is $4.69. The company’s market capitalization is $94.40 million.

StarTek (NYSE:SRT) last posted its earnings results on Tuesday, August 9th. The company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.10. StarTek had a negative net margin of 2.94% and a negative return on equity of 20.21%. The company earned $73.70 million during the quarter, compared to the consensus estimate of $76.55 million. On average, equities analysts expect that StarTek will post ($0.04) earnings per share for the current year.

A hedge fund recently raised its stake in StarTek stock. Renaissance Technologies LLC boosted its position in StarTek Inc. (NYSE:SRT) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 476,000 shares of the company’s stock after buying an additional 9,800 shares during the period. Renaissance Technologies LLC owned 3.05% of StarTek worth $1,999,000 as of its most recent SEC filing. 41.48% of the stock is currently owned by hedge funds and other institutional investors.

About StarTek

StarTek, Inc (STARTEK) is a customer engagement business process outsourcing (BPO) services company, which is delivering customer care solutions. The Company operates its business in three segments, based on the geographic regions: Domestic, Nearshore, and Offshore. Its Domestic segment includes the operations of approximately 10 facilities in the United States and one facility in Canada.

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