Houghton Mifflin Harcourt (NASDAQ:HMHC) Raised to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Houghton Mifflin Harcourt (NASDAQ:HMHC) from a market perform rating to an outperform rating in a research note released on Tuesday morning, Analyst Ratings Network reports. The brokerage currently has $20.00 target price on the business services provider’s stock, up from their previous target price of $19.00.

Separately, TheStreet raised Houghton Mifflin Harcourt from a d rating to a c- rating in a research note on Monday, November 15th.

HMHC stock opened at $16.16 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.40 and a quick ratio of 1.24. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 12.15 and a beta of 1.29. Houghton Mifflin Harcourt has a 1-year low of $3.82 and a 1-year high of $17.93. The business has a 50 day simple moving average of $15.94 and a two-hundred day simple moving average of $13.96.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last issued its quarterly earnings data on Thursday, November 4th. The business services provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.54. Houghton Mifflin Harcourt had a negative return on equity of 9.05% and a net margin of 16.63%. The company had revenue of $417.10 million for the quarter, compared to the consensus estimate of $345.29 million. The company’s revenue was up 25.9% on a year-over-year basis.

In other Houghton Mifflin Harcourt news, EVP Michael Edmund Evans sold 2,229 shares of the company’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $17.50, for a total transaction of $39,007.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.31% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Hawaiian Bank acquired a new stake in shares of Houghton Mifflin Harcourt in the 4th quarter valued at about $857,000. UBS Asset Management Americas Inc. boosted its position in shares of Houghton Mifflin Harcourt by 21.0% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 155,047 shares of the business services provider’s stock valued at $2,082,000 after purchasing an additional 26,910 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in shares of Houghton Mifflin Harcourt by 730.1% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 141,081 shares of the business services provider’s stock valued at $1,895,000 after purchasing an additional 124,085 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Houghton Mifflin Harcourt by 4.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 56,941 shares of the business services provider’s stock valued at $765,000 after purchasing an additional 2,588 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in shares of Houghton Mifflin Harcourt in the 3rd quarter valued at about $172,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Houghton Mifflin Harcourt Company Profile

Houghton Mifflin Harcourt Co engages in the provision of pre-K-12 education solutions, delivering content, technology, services, and media. It operates through the following segments: Education and HMH Books & Media. The Education segment provides educational products, technology platforms and services.

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