StarTek, Inc. (SRT) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of StarTek, Inc. (NYSE:SRT) from a hold rating to a sell rating in a report issued on Thursday.

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. “

SRT has been the topic of several other reports. Lake Street Capital lifted their target price on StarTek from $11.00 to $14.00 and gave the stock a buy rating in a report on Thursday, August 10th. Robert W. Baird reaffirmed a hold rating and set a $12.00 target price on shares of StarTek in a report on Wednesday, October 4th.

StarTek (SRT) opened at 12.09 on Thursday. The firm has a market cap of $192.82 million, a price-to-earnings ratio of 46.15 and a beta of -0.06. The firm has a 50-day moving average price of $11.67 and a 200 day moving average price of $11.05. StarTek has a 1-year low of $5.70 and a 1-year high of $14.78.

StarTek (NYSE:SRT) last issued its quarterly earnings data on Wednesday, August 9th. The business services provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $73.98 million for the quarter, compared to analyst estimates of $76.84 million. StarTek had a return on equity of 9.60% and a net margin of 1.43%. During the same quarter in the previous year, the company posted ($0.11) EPS. Equities analysts predict that StarTek will post $0.30 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “StarTek, Inc. (SRT) Rating Lowered to Sell at Zacks Investment Research” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another site, it was illegally copied and republished in violation of US and international trademark and copyright laws. The original version of this report can be accessed at https://ledgergazette.com/2017/10/09/startek-inc-srt-rating-lowered-to-sell-at-zacks-investment-research.html.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in StarTek by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 954,100 shares of the business services provider’s stock worth $8,291,000 after buying an additional 29,596 shares during the period. Engine Capital Management LLC lifted its holdings in StarTek by 8,617.8% during the 1st 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. Renaissance Technologies LLC lifted its holdings in StarTek by 3.9% during the 1st 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. Vanguard Group Inc. lifted its holdings in StarTek by 31.3% during the 2nd quarter. Vanguard Group Inc. now owns 376,404 shares of the business services provider’s stock worth $4,607,000 after buying an additional 89,679 shares during the period. Finally, Northern Trust Corp lifted its holdings in StarTek by 292.7% during the 2nd quarter. Northern Trust Corp now owns 127,000 shares of the business services provider’s stock worth $1,555,000 after buying an additional 94,656 shares during the period. 48.99% of the stock is currently owned by hedge funds and other institutional investors.

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 faci

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. “

SRT has been the topic of several other reports. Lake Street Capital lifted their target price on StarTek from $11.00 to $14.00 and gave the stock a buy rating in a report on Thursday, August 10th. Robert W. Baird reaffirmed a hold rating and set a $12.00 target price on shares of StarTek in a report on Wednesday, October 4th.

StarTek (SRT) opened at 12.09 on Thursday. The firm has a market cap of $192.82 million, a price-to-earnings ratio of 46.15 and a beta of -0.06. The firm has a 50-day moving average price of $11.67 and a 200 day moving average price of $11.05. StarTek has a 1-year low of $5.70 and a 1-year high of $14.78.

StarTek (NYSE:SRT) last issued its quarterly earnings data on Wednesday, August 9th. The business services provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $73.98 million for the quarter, compared to analyst estimates of $76.84 million. StarTek had a return on equity of 9.60% and a net margin of 1.43%. During the same quarter in the previous year, the company posted ($0.11) EPS. Equities analysts predict that StarTek will post $0.30 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “StarTek, Inc. (SRT) Rating Lowered to Sell at Zacks Investment Research” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another site, it was illegally copied and republished in violation of US and international trademark and copyright laws. The original version of this report can be accessed at https://ledgergazette.com/2017/10/09/startek-inc-srt-rating-lowered-to-sell-at-zacks-investment-research.html.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in StarTek by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 954,100 shares of the business services provider’s stock worth $8,291,000 after buying an additional 29,596 shares during the period. Engine Capital Management LLC lifted its holdings in StarTek by 8,617.8% during the 1st 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. Renaissance Technologies LLC lifted its holdings in StarTek by 3.9% during the 1st 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. Vanguard Group Inc. lifted its holdings in StarTek by 31.3% during the 2nd quarter. Vanguard Group Inc. now owns 376,404 shares of the business services provider’s stock worth $4,607,000 after buying an additional 89,679 shares during the period. Finally, Northern Trust Corp lifted its holdings in StarTek by 292.7% during the 2nd quarter. Northern Trust Corp now owns 127,000 shares of the business services provider’s stock worth $1,555,000 after buying an additional 94,656 shares during the period. 48.99% of the stock is currently owned by hedge funds and other institutional investors.

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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