Zacks Investment Research Downgrades StarTek (SRT) to Strong Sell

StarTek (NYSE:SRT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Friday.

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. “

A number of other analysts have also recently weighed in on SRT. ValuEngine raised StarTek from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. TheStreet cut StarTek from a “c-” rating to a “d+” rating in a research report on Monday, May 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $12.67.

Shares of StarTek traded up $0.06, reaching $7.01, during trading on Friday, MarketBeat reports. The company’s stock had a trading volume of 71,259 shares, compared to its average volume of 65,676. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.50 and a quick ratio of 2.41. StarTek has a 1-year low of $6.11 and a 1-year high of $14.27.

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of StarTek by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 856,232 shares of the business services provider’s stock worth $5,386,000 after purchasing an additional 17,482 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of StarTek by 39.1% in the 4th quarter. Bank of New York Mellon Corp now owns 80,164 shares of the business services provider’s stock worth $799,000 after purchasing an additional 22,551 shares in the last quarter. Finally, LMR Partners LLP acquired a new stake in shares of StarTek in the 2nd quarter worth $160,000. 37.40% of the stock is owned by hedge funds and other institutional investors.

StarTek Company Profile

StarTek, Inc provides business process outsourcing services in the United States, Canada, Honduras, Jamaica, and the Philippines. It operates in three segments: Domestic, Nearshore, and Offshore. The company's service offerings include customer care, sales support, inbound sales, complex order processing, accounts receivable management, technical and product support, up-sell and cross-sell opportunities, customer intelligence analytics, and other industry-specific processes.

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