StarTek, Inc. (NYSE:SRT) had its target price lifted by equities researchers at Lake Street Capital from $11.00 to $14.00 in a research note issued on Thursday, Marketbeat reports. The firm presently has a “buy” rating on the business services provider’s stock. Lake Street Capital’s target price indicates a potential upside of 14.47% from the stock’s current price.
Separately, Zacks Investment Research downgraded shares of StarTek from a “buy” rating to a “hold” rating in a report on Thursday, July 20th.
Shares of StarTek (NYSE:SRT) traded up 5.07% on Thursday, hitting $12.23. 191,204 shares of the stock were exchanged. The stock has a market cap of $195.06 million, a price-to-earnings ratio of 46.68 and a beta of -0.07. StarTek has a 1-year low of $4.37 and a 1-year high of $14.78. The stock’s 50-day moving average is $12.60 and its 200-day moving average is $10.20.
StarTek (NYSE:SRT) last announced its earnings results on Wednesday, August 9th. The business services provider reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The company had revenue of $73.98 million during the quarter, compared to the consensus estimate of $76.84 million. StarTek had a net margin of 1.43% and a return on equity of 9.60%. During the same quarter in the prior year, the company posted ($0.11) earnings per share. Analysts forecast that StarTek will post $0.30 earnings per share for the current year.
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In related news, Director Arnaud Ajdler sold 119,919 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $11.35, for a total transaction of $1,361,080.65. Following the completion of the sale, the director now owns 37,507 shares in the company, valued at $425,704.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 17.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC increased its stake in StarTek by 70.6% in the first quarter. Acadian Asset Management LLC now owns 150,761 shares of the business services provider’s stock worth $1,307,000 after buying an additional 62,407 shares during the period. Engine Capital Management LLC increased its stake in StarTek by 8,617.8% in the first quarter. Engine Capital Management LLC now owns 784,425 shares of the business services provider’s stock worth $6,817,000 after buying an additional 775,427 shares during the period. O Shaughnessy Asset Management LLC increased its stake in StarTek by 393.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 17,104 shares of the business services provider’s stock worth $149,000 after buying an additional 13,639 shares during the period. Russell Investments Group Ltd. increased its stake in StarTek by 202.4% in the first quarter. Russell Investments Group Ltd. now owns 30,204 shares of the business services provider’s stock worth $262,000 after buying an additional 20,216 shares during the period. Finally, Renaissance Technologies LLC increased its stake in StarTek by 3.9% in the first quarter. Renaissance Technologies LLC now owns 634,300 shares of the business services provider’s stock worth $5,512,000 after buying an additional 23,900 shares during the period. Institutional investors and hedge funds own 46.05% of the company’s stock.
About StarTek
StarTek, Inc is a customer engagement business process outsourcing (BPO) services provider, delivering customer care solutions. The Company operates through three segments: Domestic, Nearshore and Offshore. As of December 31, 2016, its Domestic segment included the operations of 13 facilities in the United States and one facility in Canada; its Offshore segment included the operations of four facilities in the Philippines, and its Nearshore segment included the operations of two facilities in Honduras and one facility in Jamaica.
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