StarTek Inc. (SRT) Upgraded by Zacks Investment Research to “Hold”
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. “
Separately, TheStreet upgraded StarTek from a sell rating to a hold rating in a report on Wednesday, September 7th.
Shares of StarTek (NYSE:SRT) opened at 6.18 on Wednesday. The stock’s 50 day moving average price is $5.86 and its 200-day moving average price is $4.74. StarTek has a 52 week low of $3.30 and a 52 week high of $6.40. The stock’s market cap is $97.24 million.
StarTek (NYSE:SRT) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.10. The business had revenue of $73.70 million for the quarter, compared to analysts’ expectations of $76.55 million. StarTek had a negative return on equity of 20.21% and a negative net margin of 2.94%. Equities analysts anticipate that StarTek will post ($0.04) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in StarTek stock. BlackRock Fund Advisors boosted its position in shares of StarTek Inc. (NYSE:SRT) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,820 shares of the company’s stock after buying an additional 593 shares during the period. BlackRock Fund Advisors owned 0.25% of StarTek worth $163,000 at the end of the most recent quarter. 41.48% of the stock is currently owned by institutional investors.
StarTek, Inc (STARTEK) is a customer engagement business process outsourcing (BPO) services company, which is delivering customer care solutions. The Company operates its business in three segments, based on the geographic regions: Domestic, Nearshore, and Offshore. Its Domestic segment includes the operations of approximately 10 facilities in the United States and one facility in Canada.
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