StarTek (NYSE:SRT) Rating Increased to Buy at ValuEngine

StarTek (NYSE:SRT) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Tuesday, ValuEngine reports.

A number of other analysts also recently issued reports on the stock. Lake Street Capital set a $12.00 price target on shares of StarTek and gave the stock a “buy” rating in a report on Friday, May 17th. Zacks Investment Research downgraded shares of StarTek from a “hold” rating to a “sell” rating in a report on Saturday, September 7th.

Shares of SRT stock traded up $0.05 during trading hours on Tuesday, hitting $6.99. The company’s stock had a trading volume of 946 shares, compared to its average volume of 83,591. The company has a 50 day moving average of $6.59 and a 200 day moving average of $7.39. StarTek has a 12-month low of $5.26 and a 12-month high of $8.93. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.72.

StarTek (NYSE:SRT) last announced its quarterly earnings results on Wednesday, August 7th. The business services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.09). StarTek had a negative return on equity of 6.70% and a negative net margin of 4.36%. The firm had revenue of $160.55 million for the quarter, compared to analysts’ expectations of $157.92 million. As a group, equities research analysts forecast that StarTek will post -0.15 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio purchased a new stake in StarTek during the second quarter worth $35,000. Royal Bank of Canada acquired a new position in StarTek during the second quarter worth $34,000. Vanguard Group Inc. raised its position in StarTek by 16.6% during the second quarter. Vanguard Group Inc. now owns 633,700 shares of the business services provider’s stock worth $5,177,000 after acquiring an additional 90,212 shares during the period. BlackRock Inc. raised its position in StarTek by 200.0% during the second quarter. BlackRock Inc. now owns 1,173,611 shares of the business services provider’s stock worth $9,589,000 after acquiring an additional 782,472 shares during the period. Finally, Northern Trust Corp raised its position in StarTek by 35.8% during the second quarter. Northern Trust Corp now owns 51,270 shares of the business services provider’s stock worth $418,000 after acquiring an additional 13,519 shares during the period. 13.39% of the stock is currently owned by hedge funds and other institutional investors.

About StarTek

StarTek, Inc operates as a business process outsourcing company that provides omnichannel customer interactions and technology back-office support solutions. It primarily offers customer engagement consulting, omnichannel engagement, social media, customer intelligence analytics, scientific research, back office, and receivables management services under the Startek and Aegis brands.

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