Houghton Mifflin Harcourt Company (NASDAQ:HMHC) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Houghton Mifflin Harcourt Company (NASDAQ:HMHC) from a hold rating to a buy rating in a research report released on Thursday morning. The brokerage currently has $13.00 price objective on the business services provider’s stock.
According to Zacks, “Houghton Mifflin Harcourt Company is a global provider of education solutions, delivering content, technology, services and media to students in over 150 countries worldwide. The Company delivers its offerings to both educational institutions and consumers. It provides kindergarten through twelfth grade, or K-12, educational content in the United States. The Company, through its subsidiary, provides print and electronic textbook curriculum, learning content, and assessment tools and services. Houghton Mifflin Harcourt Company is headquartered in Boston, Massachusetts. “
HMHC has been the topic of several other reports. BidaskClub downgraded shares of Houghton Mifflin Harcourt from a buy rating to a hold rating in a research report on Friday, June 16th. BMO Capital Markets lifted their target price on shares of Houghton Mifflin Harcourt from $10.00 to $13.00 and gave the stock a market perform rating in a research report on Monday, May 15th. Finally, Stifel Nicolaus reissued a hold rating and issued a $12.50 target price on shares of Houghton Mifflin Harcourt in a research report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Houghton Mifflin Harcourt currently has a consensus rating of Hold and an average target price of $17.42.
Shares of Houghton Mifflin Harcourt (NASDAQ HMHC) traded up 0.42% during trading on Thursday, hitting $12.00. 908,915 shares of the company traded hands. The firm has a 50 day moving average price of $12.68 and a 200-day moving average price of $11.41. The stock’s market cap is $1.48 billion. Houghton Mifflin Harcourt has a one year low of $9.15 and a one year high of $17.69.
Houghton Mifflin Harcourt (NASDAQ:HMHC) last released its earnings results on Thursday, May 4th. The business services provider reported ($0.96) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.11. The business had revenue of $221.92 million for the quarter, compared to the consensus estimate of $196.90 million. Houghton Mifflin Harcourt had a negative net margin of 17.29% and a negative return on equity of 12.53%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted ($1.34) earnings per share. Analysts predict that Houghton Mifflin Harcourt will post ($1.39) EPS for the current year.
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In other Houghton Mifflin Harcourt news, Director Lawrence K. Fish bought 42,364 shares of Houghton Mifflin Harcourt stock in a transaction on Monday, May 8th. The stock was purchased at an average cost of $13.02 per share, for a total transaction of $551,579.28. Following the completion of the purchase, the director now directly owns 78,159 shares of the company’s stock, valued at $1,017,630.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lawrence K. Fish bought 67,364 shares of Houghton Mifflin Harcourt stock in a transaction on Tuesday, May 9th. The stock was acquired at an average price of $12.99 per share, with a total value of $875,058.36. Following the completion of the purchase, the director now directly owns 78,159 shares of the company’s stock, valued at $1,015,285.41. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in Houghton Mifflin Harcourt by 13.7% in the first quarter. FMR LLC now owns 15,500,512 shares of the business services provider’s stock worth $157,330,000 after buying an additional 1,869,780 shares during the period. Norges Bank acquired a new stake in Houghton Mifflin Harcourt during the fourth quarter worth about $13,930,000. Vista Equity Partners Management LLC acquired a new stake in Houghton Mifflin Harcourt during the first quarter worth about $9,268,000. Renaissance Technologies LLC acquired a new stake in Houghton Mifflin Harcourt during the fourth quarter worth about $6,531,000. Finally, Rivulet Capital LLC boosted its stake in Houghton Mifflin Harcourt by 22.3% in the first quarter. Rivulet Capital LLC now owns 3,155,357 shares of the business services provider’s stock worth $32,027,000 after buying an additional 576,223 shares during the period.
About Houghton Mifflin Harcourt
Houghton Mifflin Harcourt Company (HMH) is a global learning company, specializing in education solutions across a range of media. The Company operates through two segments: Education and Trade Publishing. As of December 31, 2016, the Company delivered content, services and technology to both educational institutions and consumers, reaching over 50 million students in approximately 150 countries across the world.
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