CRA International, Inc. (CRAI) has reached an all-time high, with its stock price soaring to $187.26. This milestone underscores a period of significant growth for the consulting firm, reflecting investor confidence and a strong market position. Over the past year, CRA International has witnessed an impressive 85.27% increase in its stock value, a testament to the company's robust performance and strategic initiatives that have resonated well with both clients and shareholders. The all-time high represents not just a peak in the stock's trading range but also highlights the company's potential for future growth in the competitive consulting industry.
In other recent news, CRA International recorded a solid performance in the second quarter of fiscal 2024, with a 5.9% increase in revenue year-over-year, which amounted to $171.4 million. The company's growth was observed across multiple practices, including Antitrust & Competition Economics, Financial Economics, Intellectual Property, Labor & Employment, and Life Sciences. The company's CEO, Paul Maleh, expressed confidence in the company's diversified portfolio and its continued growth prospects.
CRA International's full-year fiscal 2024 revenue is projected to be between $670 million and $685 million, with a non-GAAP EBITDA margin of 12.2% to 13.0%. The company ended the quarter with $24.6 million in cash and $87 million in borrowings, resulting in a net debt position of $62.4 million. In addition, the company returned $27.0 million to shareholders through dividends and share repurchases.
Despite these positive developments, CRA International saw a slight decrease in consultant headcount by 0.3% YoY, and Non-GAAP selling, general, and administrative expenses rose to 16.4% of revenue. However, the company maintains a positive outlook, expecting continued growth across practices and geographies, and is making ongoing efforts to attract top talent. These are recent developments in the company's performance and outlook.
InvestingPro Insights
CRA International's recent achievement of an all-time high stock price is further supported by data from InvestingPro. The company's strong market performance is reflected in its impressive YTD Price Total Return of 88.05% and 1 Year Price Total Return of 83.9%. These figures align closely with the 85.27% annual increase mentioned in the article, confirming the stock's robust growth trajectory.
InvestingPro Tips highlight that CRA International has raised its dividend for 8 consecutive years, indicating a commitment to shareholder value. Additionally, the company is trading near its 52-week high, which corroborates the all-time high mentioned in the article.
The company's financial health appears solid, with a Revenue of $652.4M USD for the last twelve months as of Q2 2024, and a Revenue Growth of 7.26% over the same period. This growth in revenue supports the narrative of CRA International's strong market position and potential for future expansion.
For investors seeking a more comprehensive analysis, InvestingPro offers 14 additional tips for CRA International, providing deeper insights into the company's financial outlook and market position.
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