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Barrington Sticks to Their Hold Rating for Sykes Enterprises Inc (SYKE)


Barrington analyst Vincent Colicchio maintained a Hold rating on Sykes Enterprises Inc (NASDAQ: SYKE) today. The company’s shares closed yesterday at $30.23.

Colicchio commented:

“We need to get more comfortable with the company’s revenue growth prospects and its ability to address U.S. labor cost pressures before getting more optimistic on the shares. The U.S. labor market remains challenging as the strong economy makes it difficult to reduce high turnover levels.”

According to TipRanks.com, Colicchio is a 3-star analyst with an average return of 5.6% and a 65.0% success rate. Colicchio covers the Technology sector, focusing on stocks such as Exlservice Holdings, Convergys Corp, and Computer Task.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sykes Enterprises Inc with a $36 average price target.

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Based on Sykes Enterprises Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $7.18 million. In comparison, last year the company had a net profit of $21.7 million.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock.

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Sykes Enterprises, Inc. engages in the provision of multichannel demand generation and customer engagement services. The firm operates through the Americas and EMEA segments. The Americas segment is comprised of the United States, Canada, Latin America, Australia, and the Asia Pacific Rim. The EMEA segment includes Europe, the Middle East, and Africa.