Zacks Investment Research upgraded shares of Houghton Mifflin Harcourt Co. (NASDAQ:HMHC) from a sell rating to a hold rating in a research note released on Wednesday.

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 subject of several other research reports. Credit Suisse Group AG restated a buy rating on shares of Houghton Mifflin Harcourt in a report on Wednesday, May 18th. Morgan Stanley restated a hold rating on shares of Houghton Mifflin Harcourt in a report on Sunday, May 22nd. Oppenheimer Holdings Inc. restated an outperform rating and issued a $33.00 target price on shares of Houghton Mifflin Harcourt in a report on Thursday, June 9th. Goldman Sachs Group Inc. upgraded shares of Houghton Mifflin Harcourt from a neutral rating to a buy rating and set a $20.00 target price for the company in a report on Monday, August 1st. Finally, BMO Capital Markets cut shares of Houghton Mifflin Harcourt from an outperform rating to a market perform rating and lowered their target price for the company from $22.00 to $17.00 in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Houghton Mifflin Harcourt presently has a consensus rating of Hold and a consensus price target of $23.50.

Shares of Houghton Mifflin Harcourt (NASDAQ:HMHC) opened at 14.67 on Wednesday. The company’s 50-day moving average is $15.76 and its 200 day moving average is $17.61. Houghton Mifflin Harcourt has a 52-week low of $14.40 and a 52-week high of $22.75. The firm’s market cap is $1.79 billion.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.02) by $0.21. Houghton Mifflin Harcourt had a negative return on equity of 9.44% and a negative net margin of 10.86%. The firm had revenue of $392 million for the quarter, compared to analyst estimates of $431.29 million. During the same quarter last year, the firm earned ($0.06) EPS. The company’s revenue was up 3.2% on a year-over-year basis. On average, analysts expect that Houghton Mifflin Harcourt will post ($1.21) earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in HMHC. FMR LLC increased its stake in Houghton Mifflin Harcourt by 20.1% in the second quarter. FMR LLC now owns 12,144,842 shares of the company’s stock valued at $189,824,000 after buying an additional 2,036,325 shares during the period. Vanguard Group Inc. increased its stake in Houghton Mifflin Harcourt by 3.0% in the second quarter. Vanguard Group Inc. now owns 8,558,672 shares of the company’s stock valued at $133,772,000 after buying an additional 250,203 shares during the period. Bank of New York Mellon Corp increased its stake in Houghton Mifflin Harcourt by 92.0% in the second quarter. Bank of New York Mellon Corp now owns 7,664,311 shares of the company’s stock valued at $119,792,000 after buying an additional 3,672,068 shares during the period. WS Management Lllp increased its stake in Houghton Mifflin Harcourt by 84.2% in the second quarter. WS Management Lllp now owns 4,655,000 shares of the company’s stock valued at $72,758,000 after buying an additional 2,128,100 shares during the period. Finally, Manning & Napier Advisors LLC increased its stake in Houghton Mifflin Harcourt by 36.4% in the first quarter. Manning & Napier Advisors LLC now owns 4,213,123 shares of the company’s stock valued at $84,008,000 after buying an additional 1,125,160 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. The Education segment provides educational content, services and technology solutions to meet the diverse needs of classrooms.

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