Piper Sandler Issues Pessimistic Forecast for HMH (NASDAQ:HMH) Stock Price

HMH (NASDAQ:HMH) had its price target cut by equities researchers at Piper Sandler from $32.00 to $26.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler‘s target price would suggest a potential upside of 125.01% from the company’s previous close.

Several other equities analysts have also recently issued reports on HMH. JPMorgan Chase & Co. cut HMH from an “overweight” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Friday. Stifel Nicolaus raised their price target on HMH from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Evercore set a $24.00 price target on shares of HMH in a report on Friday, August 7th. Finally, Zacks Research raised shares of HMH from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $24.60.

HMH Trading Up 5.6%

Shares of HMH stock traded up $0.61 during trading on Monday, reaching $11.55. 96,422 shares of the stock were exchanged, compared to its average volume of 267,603. HMH has a 1 year low of $10.70 and a 1 year high of $24.50. The firm has a market cap of $507.66 million and a price-to-earnings ratio of 27.70. The company has a quick ratio of 1.72, a current ratio of 2.84 and a debt-to-equity ratio of 0.23. The stock’s fifty day moving average is $18.36 and its 200 day moving average is $19.58.

HMH (NASDAQ:HMH) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.14). The business had revenue of $171.08 million during the quarter. As a group, equities research analysts expect that HMH will post 1.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HMH. Russell Investments Group Ltd. bought a new stake in HMH during the third quarter worth about $31,000. Kornitzer Capital Management Inc. KS purchased a new stake in HMH in the third quarter worth about $490,000. Squarepoint Ops LLC bought a new position in shares of HMH during the second quarter valued at approximately $1,076,000. Readystate Asset Management LP bought a new position in shares of HMH during the second quarter valued at approximately $1,499,000. Finally, State Street Corp purchased a new position in shares of HMH during the second quarter valued at approximately $2,825,000.

HMH Company Profile

We are a leading provider of highly engineered, mission-critical equipment solutions, providing customers with a comprehensive portfolio of drilling equipment, services and systems utilized in oil and gas drilling operations, both offshore and onshore. Our global reach, technical expertise and innovative product offerings, coupled with our integrated operations from manufacturing to aftermarket services, allow us to provide customers with first class technology, engineering and project management services through the entire asset lifecycle of the equipment we provide.