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

Several other equities research analysts have also recently weighed in on HMHC. Citigroup reduced their price objective on Houghton Mifflin Harcourt from $10.00 to $8.00 and set a buy rating for the company in a research report on Tuesday, July 16th. Morgan Stanley reduced their price objective on Houghton Mifflin Harcourt from $7.00 to $6.50 and set an equal weight rating for the company in a research report on Thursday, September 5th. ValuEngine cut Houghton Mifflin Harcourt from a hold rating to a sell rating in a research report on Wednesday. Finally, Zacks Investment Research cut Houghton Mifflin Harcourt from a hold rating to a sell rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $8.50.

Shares of HMHC traded up $0.03 during mid-day trading on Thursday, hitting $6.40. The company’s stock had a trading volume of 358,039 shares, compared to its average volume of 689,657. Houghton Mifflin Harcourt has a one year low of $4.72 and a one year high of $10.64. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.80 and a current ratio of 1.26. The firm has a market capitalization of $734.71 million, a PE ratio of -6.04 and a beta of 0.87. The stock’s 50-day moving average is $5.69 and its two-hundred day moving average is $6.44.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last posted its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Houghton Mifflin Harcourt had a negative return on equity of 16.39% and a negative net margin of 9.46%. The company had revenue of $388.90 million during the quarter, compared to analysts’ expectations of $399.91 million. During the same period in the prior year, the business earned ($0.19) earnings per share. Houghton Mifflin Harcourt’s revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts expect that Houghton Mifflin Harcourt will post -1.3 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Alambic Investment Management L.P. bought a new position in Houghton Mifflin Harcourt in the first quarter worth $841,000. Thompson Siegel & Walmsley LLC lifted its position in Houghton Mifflin Harcourt by 14.5% in the first quarter. Thompson Siegel & Walmsley LLC now owns 1,774,036 shares of the business services provider’s stock worth $12,897,000 after purchasing an additional 225,114 shares during the period. Alpha Windward LLC bought a new position in Houghton Mifflin Harcourt in the second quarter worth $383,000. IndexIQ Advisors LLC bought a new position in Houghton Mifflin Harcourt in the first quarter worth $1,619,000. Finally, Wells Fargo & Company MN lifted its position in Houghton Mifflin Harcourt by 13.6% in the second quarter. Wells Fargo & Company MN now owns 3,111,879 shares of the business services provider’s stock worth $17,925,000 after purchasing an additional 373,189 shares during the period. 97.88% of the stock is 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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