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

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 equities research analysts have also commented on the company. Citigroup dropped their price target on Houghton Mifflin Harcourt from $10.00 to $8.00 and set a buy rating on the stock in a research report on Tuesday, July 16th. ValuEngine raised Houghton Mifflin Harcourt from a sell rating to a hold rating in a research report on Thursday, August 1st. Finally, BidaskClub raised Houghton Mifflin Harcourt from a sell rating to a hold rating in a research report on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Houghton Mifflin Harcourt has an average rating of Hold and a consensus price target of $9.50.

NASDAQ HMHC opened at $5.49 on Friday. The firm has a market capitalization of $681.37 million, a price-to-earnings ratio of -5.18 and a beta of 0.92. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.63 and a current ratio of 1.20. The stock’s 50-day simple moving average is $5.56. Houghton Mifflin Harcourt has a one year low of $4.72 and a one year high of $10.64.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last released its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.01 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.01. The company had revenue of $388.90 million for the quarter, compared to analyst estimates of $399.91 million. Houghton Mifflin Harcourt had a negative return on equity of 15.65% and a negative net margin of 9.46%. Houghton Mifflin Harcourt’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.19) earnings per share. As a group, analysts anticipate that Houghton Mifflin Harcourt will post -0.84 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in HMHC. Norges Bank acquired a new stake in Houghton Mifflin Harcourt in the 4th quarter valued at approximately $16,439,000. OppenheimerFunds Inc. raised its position in Houghton Mifflin Harcourt by 34.3% in the 1st quarter. OppenheimerFunds Inc. now owns 2,894,872 shares of the business services provider’s stock valued at $21,046,000 after buying an additional 739,343 shares during the last quarter. Millennium Management LLC raised its position in Houghton Mifflin Harcourt by 139.2% in the 4th quarter. Millennium Management LLC now owns 695,399 shares of the business services provider’s stock valued at $6,161,000 after buying an additional 404,669 shares during the last quarter. Wells Fargo & Company MN raised its position in Houghton Mifflin Harcourt by 13.6% in the 2nd quarter. Wells Fargo & Company MN now owns 3,111,879 shares of the business services provider’s stock valued at $17,925,000 after buying an additional 373,189 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in Houghton Mifflin Harcourt in the 1st quarter valued at approximately $2,690,000. 94.88% of the stock is currently owned by institutional investors and hedge funds.

Houghton Mifflin Harcourt Company Profile

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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