Houghton Mifflin Harcourt (HMHC) Upgraded to Buy by BidaskClub

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

Several other brokerages have also weighed in on HMHC. Zacks Investment Research lowered Houghton Mifflin Harcourt from a hold rating to a sell rating in a report on Saturday, February 23rd. BMO Capital Markets lowered their price objective on Houghton Mifflin Harcourt from $12.00 to $11.00 and set an outperform rating for the company in a report on Monday, March 4th. Finally, TheStreet lowered Houghton Mifflin Harcourt from a c- rating to a d rating in a report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $9.63.

Shares of Houghton Mifflin Harcourt stock opened at $6.78 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.20 and a quick ratio of 0.63. The stock has a market capitalization of $841.47 million, a P/E ratio of -6.40 and a beta of 0.79. Houghton Mifflin Harcourt has a fifty-two week low of $5.10 and a fifty-two week high of $10.64.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last announced its quarterly earnings data on Thursday, May 9th. The business services provider reported ($0.95) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.73) by ($0.22). The firm had revenue of $195.00 million during the quarter, compared to the consensus estimate of $201.61 million. Houghton Mifflin Harcourt had a negative net margin of 8.25% and a negative return on equity of 18.93%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.82) earnings per share. Equities research analysts anticipate that Houghton Mifflin Harcourt will post -0.54 earnings per share for the current fiscal year.

In other Houghton Mifflin Harcourt news, major shareholder Anchorage Capital Group, L.L.C sold 622,320 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $7.75, for a total transaction of $4,822,980.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lawrence K. Fish bought 20,000 shares of the stock in a transaction on Monday, May 13th. The shares were acquired at an average cost of $6.47 per share, for a total transaction of $129,400.00. The disclosure for this purchase can be found here. Corporate insiders own 1.69% of the company’s stock.

A number of institutional investors have recently bought and sold shares of HMHC. Private Capital Group LLC increased its position in Houghton Mifflin Harcourt by 91.3% during the first quarter. Private Capital Group LLC now owns 4,400 shares of the business services provider’s stock worth $32,000 after buying an additional 2,100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Houghton Mifflin Harcourt by 70.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,048 shares of the business services provider’s stock worth $71,000 after buying an additional 3,317 shares during the last quarter. Jefferies Group LLC bought a new stake in Houghton Mifflin Harcourt during the first quarter valued at about $76,000. Signition LP bought a new stake in Houghton Mifflin Harcourt during the first quarter valued at about $84,000. Finally, Acadian Asset Management LLC bought a new stake in Houghton Mifflin Harcourt during the first quarter valued at about $93,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

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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