Houghton Mifflin Harcourt Company (NASDAQ:HMHC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm currently has a $13.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 8.33% from the stock’s current price.
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. “
A number of other research analysts have also recently issued reports on HMHC. BidaskClub cut Houghton Mifflin Harcourt from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Stifel Nicolaus reiterated a “hold” rating and issued a $12.50 target price on shares of Houghton Mifflin Harcourt in a research report on Monday, July 10th. Finally, BMO Capital Markets lifted their target price on Houghton Mifflin Harcourt from $10.00 to $13.00 and gave the company a “market perform” rating in a research report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $17.42.
Houghton Mifflin Harcourt (HMHC) opened at 12.00 on Thursday. The firm’s market cap is $1.48 billion. The company’s 50-day moving average is $12.68 and its 200 day moving average is $11.41. Houghton Mifflin Harcourt has a 12 month low of $9.15 and a 12 month 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.07) by $0.11. Houghton Mifflin Harcourt had a negative return on equity of 12.53% and a negative net margin of 17.29%. The firm had revenue of $221.92 million for the quarter, compared to analysts’ expectations of $196.90 million. During the same quarter in the previous year, the business posted ($1.34) earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts expect that Houghton Mifflin Harcourt will post ($1.39) EPS for the current fiscal year.
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In other news, Director Lawrence K. Fish purchased 42,364 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were purchased at an average cost of $13.02 per share, with a total value of $551,579.28. Following the completion of the purchase, the director now owns 78,159 shares of the company’s stock, valued at approximately $1,017,630.18. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lawrence K. Fish purchased 67,364 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were purchased at an average cost of $12.99 per share, for a total transaction 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 approximately $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 made changes to their positions in the stock. Vista Equity Partners Management LLC purchased a new stake in shares of Houghton Mifflin Harcourt during the first quarter worth approximately $9,268,000. Norges Bank purchased a new stake in shares of Houghton Mifflin Harcourt during the fourth quarter worth approximately $13,930,000. Renaissance Technologies LLC purchased a new stake in shares of Houghton Mifflin Harcourt during the fourth quarter worth approximately $6,531,000. Nordea Investment Management AB raised its stake in shares of Houghton Mifflin Harcourt by 15.9% in the first quarter. Nordea Investment Management AB now owns 485,800 shares of the business services provider’s stock worth $4,931,000 after buying an additional 66,600 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. purchased a new stake in shares of Houghton Mifflin Harcourt during the second quarter worth approximately $125,000.
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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