Houghton Mifflin Harcourt Company (NASDAQ:HMHC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.

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. “

HMHC has been the subject of a number of other research reports. BidaskClub cut Houghton Mifflin Harcourt from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. BMO Capital Markets reiterated a “hold” rating and set a $13.00 target price on shares of Houghton Mifflin Harcourt in a research note on Friday, August 4th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $12.50 target price on shares of Houghton Mifflin Harcourt in a research note on Monday, July 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $16.90.

Shares of Houghton Mifflin Harcourt (NASDAQ HMHC) traded down 3.27% during mid-day trading on Thursday, hitting $10.35. 1,233,172 shares of the stock traded hands. The stock’s market cap is $1.28 billion. Houghton Mifflin Harcourt has a 12 month low of $9.15 and a 12 month high of $16.18. The firm has a 50 day moving average of $11.71 and a 200 day moving average of $11.48.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last issued its earnings results on Thursday, August 3rd. The business services provider reported ($0.20) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.03. Houghton Mifflin Harcourt had a negative return on equity of 16.14% and a negative net margin of 18.60%. The business had revenue of $393.05 million during the quarter, compared to analysts’ expectations of $387.68 million. During the same quarter in the previous year, the business earned ($0.23) EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts expect that Houghton Mifflin Harcourt will post ($1.63) EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Houghton Mifflin Harcourt by 351.0% in the first quarter. Royal Bank of Canada now owns 5,876 shares of the business services provider’s stock valued at $117,000 after buying an additional 4,573 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Houghton Mifflin Harcourt by 25.1% in the second quarter. Public Employees Retirement System of Ohio now owns 8,628 shares of the business services provider’s stock valued at $106,000 after buying an additional 1,729 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Houghton Mifflin Harcourt during the second quarter valued at $135,000. D.A. Davidson & CO. boosted its position in shares of Houghton Mifflin Harcourt by 302.6% in the second quarter. D.A. Davidson & CO. now owns 10,065 shares of the business services provider’s stock valued at $123,000 after buying an additional 7,565 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. purchased a new position in shares of Houghton Mifflin Harcourt during the second quarter valued at $125,000.

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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