Houghton Mifflin Harcourt (NASDAQ:HMHC) Upgraded at BidaskClub

BidaskClub upgraded shares of Houghton Mifflin Harcourt (NASDAQ:HMHC) from a hold rating to a buy rating in a research report sent to investors on Thursday, BidAskClub reports.

Several other equities analysts have also recently commented on the company. Zacks Investment Research cut Houghton Mifflin Harcourt from a hold rating to a sell rating in a research report on Friday, September 6th. Morgan Stanley reduced their target price on Houghton Mifflin Harcourt from $7.00 to $6.50 and set an equal weight rating for the company in a research report on Thursday, September 5th. ValuEngine cut Houghton Mifflin Harcourt from a hold rating to a sell rating in a report on Wednesday. Finally, Citigroup cut their price objective on Houghton Mifflin Harcourt from $10.00 to $8.00 and set a buy rating for the company in a report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Houghton Mifflin Harcourt has an average rating of Hold and an average price target of $8.50.

Houghton Mifflin Harcourt stock opened at $6.40 on Thursday. Houghton Mifflin Harcourt has a 52 week low of $4.72 and a 52 week high of $10.64. The business has a 50-day simple moving average of $5.71 and a 200 day simple moving average of $6.43. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.80 and a current ratio of 1.26.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last posted its earnings results on Thursday, August 8th. The business services provider reported $0.01 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. Houghton Mifflin Harcourt had a negative return on equity of 16.39% and a negative net margin of 9.46%. The business had revenue of $388.90 million during the quarter, compared to analysts’ expectations of $399.91 million. During the same period in the previous year, the business earned ($0.19) earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. Analysts forecast that Houghton Mifflin Harcourt will post -1.3 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. United Services Automobile Association boosted its holdings in shares of Houghton Mifflin Harcourt by 7.5% in the 2nd quarter. United Services Automobile Association now owns 27,019 shares of the business services provider’s stock worth $156,000 after purchasing an additional 1,889 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Houghton Mifflin Harcourt by 2.2% in the 2nd quarter. Swiss National Bank now owns 195,600 shares of the business services provider’s stock worth $1,127,000 after purchasing an additional 4,200 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Houghton Mifflin Harcourt by 40.5% in the 2nd quarter. Acadian Asset Management LLC now owns 18,033 shares of the business services provider’s stock worth $104,000 after purchasing an additional 5,201 shares in the last quarter. Aperio Group LLC purchased a new position in shares of Houghton Mifflin Harcourt in the 2nd quarter worth about $41,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Houghton Mifflin Harcourt in the 2nd quarter valued at about $63,000. Hedge funds and other institutional investors own 97.88% of the company’s stock.

About Houghton Mifflin Harcourt

Houghton Mifflin Harcourt Company, a learning company, provides curriculum, supplemental, and intervention solutions; and professional learning services worldwide. The company operates in two segments, Education and Trade Publishing. The Education segment provides educational products, technology platforms, and services, including print and digital content in the form of textbooks, digital courseware, instructional aids, educational assessment, and intervention solutions for students.

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