CRA International (CRAI) Upgraded to Buy at BidaskClub

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BidaskClub upgraded shares of CRA International (NASDAQ:CRAI) from a hold rating to a buy rating in a research note published on Wednesday morning.

Separately, Zacks Investment Research upgraded shares of CRA International from a sell rating to a hold rating in a report on Tuesday, July 10th.

Shares of CRAI stock traded up $0.81 during trading hours on Wednesday, hitting $56.79. 84,928 shares of the company were exchanged, compared to its average volume of 49,236. The firm has a market cap of $448.83 million, a P/E ratio of 29.73 and a beta of 0.80. CRA International has a 1 year low of $34.49 and a 1 year high of $58.74.

CRA International (NASDAQ:CRAI) last announced its quarterly earnings data on Thursday, August 2nd. The business services provider reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.13. CRA International had a net margin of 3.22% and a return on equity of 10.02%. The business had revenue of $105.50 million for the quarter, compared to analyst estimates of $99.12 million. During the same period in the prior year, the firm posted $0.48 EPS. The company’s revenue was up 12.8% on a year-over-year basis. equities analysts expect that CRA International will post 2.32 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Tuesday, August 28th will be issued a $0.17 dividend. The ex-dividend date is Monday, August 27th. This represents a $0.68 annualized dividend and a yield of 1.20%. CRA International’s payout ratio is 35.60%.

In related news, Director William F. Concannon sold 9,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $55.37, for a total value of $526,015.00. Following the transaction, the director now owns 28,491 shares in the company, valued at $1,577,546.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William F. Concannon sold 3,166 shares of the firm’s stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $54.93, for a total transaction of $173,908.38. Following the completion of the transaction, the director now owns 28,491 shares in the company, valued at approximately $1,565,010.63. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CRAI. MetLife Investment Advisors LLC purchased a new position in CRA International in the fourth quarter valued at approximately $219,000. Paloma Partners Management Co purchased a new position in CRA International in the second quarter valued at approximately $279,000. Seizert Capital Partners LLC purchased a new position in CRA International in the first quarter valued at approximately $305,000. Sawgrass Asset Management LLC raised its holdings in CRA International by 203.5% in the second quarter. Sawgrass Asset Management LLC now owns 21,090 shares of the business services provider’s stock valued at $1,073,000 after buying an additional 14,140 shares during the period. Finally, Systematic Financial Management LP purchased a new position in CRA International in the first quarter valued at approximately $1,130,000. Hedge funds and other institutional investors own 87.28% of the company’s stock.

About CRA International

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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