CRA International Inc. (CRAI): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report


CRA International reported modest third quarter 2014 results as adjusted earnings were in-line with the Zacks Consensus Estimate. The company benefited from broad-based demand and positive contributions from Litigation/Regulatory and Management Consulting segments. Additionally, the company's growth initiatives and solid cash balance augur well for the long term. Going forward, the company aims to achieve profitable growth both organically and through strategic hires. However, we remain concerned about the ongoing cautious spending by clients, stiff competition and currency fluctuations. We are changing our long-term recommendation on the stock from Outperform to Neutral as we expect it to perform in line with the broader market.


Founded in 1965 and headquartered in Boston, Massachusetts, CRA International Inc., formerly known as Charles River Associates, provides legal, regulatory, business consulting and other expert services through its specialized consultants across the globe. The company's economists, business professionals, engineers and other industry leaders provide original authoritative advice to support various customer activities. These include high-priority matters such as multibillion-dollar mergers and acquisitions (M&A), new product introductions, major capital investment decisions and complex litigation, the results of which often have significant consequences for the parties involved.

CRA International's consultants blend economic and financial analysis, with expertise in litigation and regulatory support, business strategy and planning, market and demand forecasting, policy analysis, and engineering and technology strategy. The company functions through a global network of coordinated offices across North America, Europe, the Middle East, and Asia.

In April 2005, CRA International acquired Lee & Allen, a provider of forensic accounting and dispute resolution services in the U.K., in order to expand in Europe, as well as in South Africa. This was followed by the acquisition of Lexecon Ltd. in June 2005. Lexecon is a provider of competition economics consulting in Europe, with offices in U.K., Germany, and Belgium. In May 2006, the company completed its domestic transfer pricing practice via the acquisition of certain assets of Ballentine Barbera Group. In June 2009, the company acquired Marakon Associates Inc., a leading strategy consulting firm renowned for its revolutionary value-based management. In an attempt to further expand its presence in the Middle East, the company opened its second office in Riyadh, Saudi Arabia in April 2010 after opening the first one in Bahrain in 2005.

CRA International competes with a broad range of public and private consulting firms. The closest publicly traded peers to CRA International include FTI Consulting, Huron Consulting Group, LECG Corporation and Navigant Consulting.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Stocks

Referenced Stocks: CRAI

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