Houghton Mifflin Harcourt (HMHC) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Houghton Mifflin Harcourt (NASDAQ:HMHC) from a hold rating to a buy rating in a research note published on Wednesday. They currently have $8.25 price target on the business services provider’s stock.

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 research firms have also weighed in on HMHC. BidaskClub lowered Houghton Mifflin Harcourt from a hold rating to a sell rating in a research note on Wednesday, December 20th. Piper Jaffray Companies reissued a hold rating and set a $13.00 price objective on shares of Houghton Mifflin Harcourt in a research note on Thursday, October 19th. ValuEngine lowered Houghton Mifflin Harcourt from a sell rating to a strong sell rating in a research note on Friday, February 2nd. Morgan Stanley lowered their price objective on Houghton Mifflin Harcourt from $12.00 to $11.00 and set an equal weight rating on the stock in a research note on Monday, October 23rd. Finally, Citigroup lowered their price objective on Houghton Mifflin Harcourt from $16.00 to $15.00 and set a buy rating on the stock in a research note on Friday, November 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $12.29.

Houghton Mifflin Harcourt (NASDAQ:HMHC) traded up $0.15 during midday trading on Wednesday, reaching $7.45. The company’s stock had a trading volume of 448,300 shares, compared to its average volume of 694,558. The firm has a market capitalization of $900.33, a price-to-earnings ratio of -3.53 and a beta of 0.45. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.38 and a quick ratio of 1.10. Houghton Mifflin Harcourt has a one year low of $7.05 and a one year high of $13.95.

Several institutional investors have recently made changes to their positions in HMHC. Alliancebernstein L.P. lifted its stake in shares of Houghton Mifflin Harcourt by 81.2% in the 4th quarter. Alliancebernstein L.P. now owns 6,040,000 shares of the business services provider’s stock valued at $56,172,000 after purchasing an additional 2,705,775 shares during the last quarter. Burgundy Asset Management Ltd. lifted its stake in shares of Houghton Mifflin Harcourt by 140.8% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 4,106,547 shares of the business services provider’s stock valued at $49,484,000 after purchasing an additional 2,401,362 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Houghton Mifflin Harcourt by 477.2% in the 4th quarter. Millennium Management LLC now owns 1,393,732 shares of the business services provider’s stock valued at $12,962,000 after purchasing an additional 1,152,265 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Houghton Mifflin Harcourt by 15.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,827,262 shares of the business services provider’s stock valued at $58,167,000 after purchasing an additional 652,936 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Houghton Mifflin Harcourt by 34.2% in the 3rd quarter. Jennison Associates LLC now owns 2,544,997 shares of the business services provider’s stock valued at $30,667,000 after purchasing an additional 648,585 shares during the last quarter.

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Houghton Mifflin Harcourt Company Profile

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. As of December 31, 2016, the Company delivered content, services and technology to both educational institutions and consumers, reaching over 50 million students in approximately 150 countries across the world.

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