Zacks Investment Research upgraded shares of CRA International (NASDAQ:CRAI) from a hold rating to a buy rating in a research note issued to investors on Thursday. The brokerage currently has $46.00 price target on the business services provider’s stock.
According to Zacks, “Charles River Associates has a diversified business with service offerings across areas of functional expertise, client base and geographical regions. The company’s strong global network provides the opportunity to work with the world's leading professionals on multiple issues. An excellent professional team has helped the company to maintain solid reputation for high-quality consulting services focused on economic, financial and management consulting areas. The company is consistent in rewarding its shareholders. Despite such positives, seasonality continues to weigh on Charles River Associates’ results as it causes considerable fluctuations in revenues and makes profit forecasting difficult. Operation in a highly competitive and fragmented economic and management consulting services industry remains a concern. The company’s shares have underperformed its industry in the past year.”
Several other equities research analysts have also issued reports on CRAI. BidaskClub raised CRA International from a strong sell rating to a sell rating in a research report on Thursday, November 22nd. ValuEngine lowered CRA International from a hold rating to a sell rating in a research report on Friday, November 16th.
In related news, CEO Paul A. Maleh sold 6,400 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $45.06, for a total transaction of $288,384.00. Following the sale, the chief executive officer now directly owns 128,510 shares of the company’s stock, valued at approximately $5,790,660.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Chad M. Holmes sold 800 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $44.97, for a total value of $35,976.00. Following the sale, the chief financial officer now directly owns 15,554 shares in the company, valued at $699,463.38. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its stake in CRA International by 1.9% during the third quarter. Russell Investments Group Ltd. now owns 224,482 shares of the business services provider’s stock valued at $11,273,000 after buying an additional 4,127 shares in the last quarter. Thomson Horstmann & Bryant Inc. increased its holdings in shares of CRA International by 1.0% during the 3rd quarter. Thomson Horstmann & Bryant Inc. now owns 140,144 shares of the business services provider’s stock valued at $7,038,000 after acquiring an additional 1,407 shares during the last quarter. Pembroke Management LTD acquired a new position in shares of CRA International during the 4th quarter valued at about $5,907,000. Matarin Capital Management LLC acquired a new position in shares of CRA International during the 3rd quarter valued at about $6,140,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of CRA International by 1.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 85,088 shares of the business services provider’s stock valued at $4,274,000 after acquiring an additional 1,455 shares during the last quarter. 86.53% of the stock is currently owned by hedge funds and other institutional investors.
CRA International Company Profile
CRA International, Inc, a consulting company, provides economic, financial, and management consulting services in the United States, the United Kingdom, and internationally. The company advises clients on economic and financial matters pertaining to litigation and regulatory proceedings; and guides corporations through critical business strategy and performance-related issues.
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