Barrington analyst Kevin Steinke reiterated a Buy rating on Cra International (CRAI – Research Report) today and set a price target of $224.00.
Kevin Steinke has given his Buy rating due to a combination of factors, primarily driven by CRA International’s strong financial performance in the fourth quarter of 2024. The company reported a significant 9.2% year-over-year increase in revenue, surpassing both the firm’s and market expectations. This growth was fueled by impressive performances across several consulting practices, notably in Energy, Finance, and Intellectual Property, with the Antitrust & Competition Economics practice continuing its growth trajectory.
Furthermore, the company’s non-GAAP EBITDA saw a remarkable 28.4% year-over-year increase, with margins expanding beyond expectations. This was supported by an improved consultant utilization rate, which rose due to strong demand and strategic workforce adjustments. Additionally, CRA International’s adjusted EPS also exceeded estimates, reflecting the company’s robust operational efficiency. These positive financial indicators, coupled with a favorable market outlook, underpin Steinke’s optimistic Buy rating and the increased price target for CRAI stock.